[HSBC] HSBC- Receive up to $700 when you start banking with us.

I did this last Sept (still holding the Advance Chequing account) and it's pretty good. But please note the following:

The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.

You can also get extra $350 / $100 (Premier / Advance) by signing up through a referral - the HSBC STEP program.

https://www.hsbc.ca/share-the-experience/

Maximum welcome bonus on Advance chequing is
$300 for opening chequing
$100 via referral from another Advance
$100 for direct deposit
$50 credit card rewards (EDIT: For non-premier credit cards it says $50 cashback rebate or 5,000 points for HSBC Advance MC or HSBC MC)
Total $550

Maximum welcome bonus on Premier chequing is
$500 for opening chequing
$350 via referral from another Premier
$100 for direct deposit
$100 credit card rewards for premier credit cards.
Total $1050

Any HSBC credit cards worth churning?

6 month wait for the cash reward.

I am actually looking for another bank account as I am currently only using a standard TD bank is this a good choice?

Yeah, this offer is on these forums somewhere. It’s near the bottom because this banks sucks hard.

SammyDavis wrote: ↑ Yeah, this offer is on these forums somewhere. It’s near the bottom because this banks sucks hard.

I have done all the banking promos and this one is better than Scotia and CIBC. And the referral program on HSBC gives it much higher bonus earning potential than other banks.

In terms of everyday banking convenience, HSBC is poor.

I did this last September as well.

If you are planning to open advance checking,remember to put all of your 5,000 in the 14 to 15 month GIC and keep the checking account balance 0. this way you earn a decent interest (~2.5%) while you keep your advance account open for 12 months from the day you get your sign up bonus.

I got 300 sign up + 100 referral + 200 payroll. Also, with HSBC Mastercard I got about 850$ in points redemption for travel purchases.

Spouse got 300 sign up + 200 referral , but didnt get payroll because maternity EI doesnt qualify as payroll.

Total money earned between spouse and I = 1950$ so far.

kangarooz wrote: ↑ I am actually looking to for another bank account as I am currently only using a standard TD bank is this a good choice?

I would say yes. I pay very little when using other banks ATM vs Scotiabank surcharge of 2 as punishment for not using theirs. I believe HSBC doesn’t charge me anything and also rebate a buck from what other bank is charging.

Elfwood wrote: ↑ I did this last Sept (still holding the Advance Chequing account) and it's pretty good. But please note the following:

The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500;

Maximum welcome bonus on Premier chequing is
$500 for opening chequing
$350 via referral from another Premier
$100 for direct deposit
$100 credit card rewards.
Total $1050

I have received 2 different opinions from hsbc. One hsbc employee told me that i can get $500 welcome bonus for the premier account, if i deposit $25k into the account, but a 2nd hsbc employee told me over the phone that I also need to payroll deposit and a credit card as well, i.e., they are linked together.

It is not sure if a customer needs to maintain a minimum $25k balance for 1 year, i.e., whether the customer can take out the money next week, or transfer to part or all $25k to the hsbc invest direct to buy stocks.

In addition, it seems that you have to maintain the bank account active for 1 year; otherwise, there will be a welcome bonus charge back. I guess that, by being active, it means there will be recurring deposits or charges in the bank account.

fkungery wrote: ↑ I have received 2 different opinions from hsbc. One hsbc employee told me that i can get $500 welcome bonus for the premier account, if i deposit $25k into the account, but a 2nd hsbc employee told me over the phone that I also need to payroll deposit and a credit card as well, i.e., they are linked together.

It is not sure if a customer needs to maintain a minimum $25k balance for 1 year, i.e., whether the customer can take out the money next week, or transfer to part or all $25k to the hsbc invest direct to buy stocks.

In addition, it seems that you have to maintain the bank account active for 1 year; otherwise, there will be a welcome bonus charge back. I guess that, by being active, it means there will be recurring deposits or charges in the bank account.

You don't need to apply credit card to get the chequing account welcome bonus of $500/$300

Xbowop wrote: ↑ How much do you have to keep the account open for? 12 months as mentioned above?

If I sign up then refer wife... do I get bonus for referring also?

Thanks!

Click on the offer link and see the footnotes

2 The minimum deposit and the HSBC Online banking registration must be completed within 1 month of account opening. The minimum deposit required will vary according to the opened HSBC Chequing Account: (i) HSBC Premier Chequing Account, minimum deposit required is $25,000 CAD; (ii) HSBC Advance Chequing Account, minimum deposit required is $5,000 CAD and; (iii) HSBC Performance Unlimited Chequing Account, the minimum deposit required is $1,000 CAD; (iv) HSBC Performance Limited Account, the minimum deposit required is $1,000 CAD.

The welcome bonus takes about 2-3 months to show up. Once you get the welcome bonus, you need to keep the min deposit for 12 months to avoid clawback. The good thing is you can keep the min deposit in a GIC or even stock market.

Yes I referred my wife and got the referral bonus.

So HSBC jade member gets $1000 for every person they refer? Why is there 5 different boxes staring $1000 for Jade?


https://www.hsbc.ca/share-the-experience/

Interested but this is confusing.

What's the referral thing about?

What is minimum balance needed for each type of account?

Very good promo I was quite impressed with it last go around. World elite MasterCard came with a decent signup bonus as well.

Geoff at Spadina location in Toronto was really helpful.

aren't you guys worried about the credit checks that happen when you do all these cash rewards from banks and credit cards?

headleygrange wrote: ↑ If you are planning to open advance checking,remember to put all of your 5,000 in the 14 to 15 month GIC and keep the checking account balance 0. this way you earn a decent interest (~2.5%) while you keep your advance account open for 12 months from the day you get your sign up bonus.

Thanks for the tip!

My intention is to collect the same $600 by:

1. Creating an Advance Chequing Account with a referral, and routing my payroll deposits into it
2. Connecting Tangerine and depositing/pushing $5,000 from the Tangerine side (since HSBC seems to not do inter-bank transfers/pulling from their side?)
3. Creating a new HSBC TFSA (I have the room) and moving $5,000 into it, leaving the chequing balance at $0
4. Putting this new full $5,000 TFSA balance into a GIC to wait out the 12+ month period

Where I am a little confused is by their GIC rates though. Googling reveals this ideal offer for 3.1% but that is for Premier only? Or is it?

If it is then this seems to be the next best offer but that is for only 270 days, not the 365+ I'd need for my above steps. It is also a comparatively time-sensitive offer ending on August 30, hence this post asking for thoughts. The other rates do not seem nearly as competitive but I suppose I can eat them to get the bonus.

Thanks for any feedback and to others for warning of bonus delay and using them as an everyday bank. The former I can call in about and the latter does not apply to my own circumstances.

Here's to lucky promo #7

If one want to sign up for Jade, does the refer have to be a jade holder as well to get $1000 each, if a new jade account is referred by a premier then only $350 each?

Is this open only to first time hsbc customers?

can anyone please share insight how a self-employee (incorporate/business) can take the same advantage ? The reason I asked ..personal account "$100 for direct deposit " how do you proof direct deposit to your personal account ... when you pay your business to yourself?