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

  • Last Updated:
  • Sep 21st, 2019 8:40 pm
Sr. Member
Sep 29, 2008
792 posts
134 upvotes
Mississauga
This deal seems a lot better than $300 TD is offering, anything I am missing?
Newbie
Jul 17, 2017
70 posts
28 upvotes
BC
motime wrote:
Sep 8th, 2019 3:17 pm
This deal seems a lot better than $300 TD is offering, anything I am missing?
Its a better deal since you can get $400 for the Advance account with a refferal. And an additional $100 if you do the payroll change. So $500 vs $300.
You can also keep the $5000 in any account, so you earn at least 1% interest and up to 3% if you get the bonus offers in the HISA. TD you have to keep it in chequing so you lose out on the interest. (Another $50 to $150 depending on rates)

TD is easier to get in and out though since you can cancel once you get the bonus. But HSBC requires you to keep the account for 12 months after the bonus is deposited.

So HSBC is more of a keeper account but TD has less strings attached.
Member
Jul 26, 2018
427 posts
421 upvotes
Canada, eh?
I had closed my accounts long time ago and now signed up again with them because of my international needs. My god they're still a huge pain. Took me 3 visits and multiple follow-ups to get the bank accounts opened.
Newbie
Jul 17, 2017
70 posts
28 upvotes
BC
secretalcoholic wrote:
Sep 8th, 2019 3:28 pm
I had closed my accounts long time ago and now signed up again with them because of my international needs. My god they're still a huge pain. Took me 3 visits and multiple follow-ups to get the bank accounts opened.
It really varies in expereince between the different branches. I find that their staff can be a bit inconsistent as some make a lot of mistakes. I know people who had a huge problem opening accounts and took 3 visits as well. My own experience was a single 30min vist and was super painless. I find that their Advance staff is better at opening accounts and doing things rights than Premier staff ironically.
Newbie
Mar 23, 2019
70 posts
46 upvotes
pzzz23 wrote:
Sep 8th, 2019 1:33 pm
Hey - Did you got your credit pull as well? I got a hard pull even though I'm new to Canada and openend the account under the Newcomers to Canada programme.
Be careful of the newcomers program, there is a requirement to deposit 10k
Member
Jul 26, 2018
427 posts
421 upvotes
Canada, eh?
StickmansamV wrote:
Sep 8th, 2019 3:34 pm
It really varies in expereince between the different branches. I find that their staff can be a bit inconsistent as some make a lot of mistakes. I know people who had a huge problem opening accounts and took 3 visits as well. My own experience was a single 30min vist and was super painless. I find that their Advance staff is better at opening accounts and doing things rights than Premier staff ironically.
Fair enough. Combining my past and current experience I've dealt with 3 branches and all of them are inconsistent. Surprisingly, the one I dealt with this time was Advance. Face With Tears Of Joy

I have to deal with Expat and their intl' banking centre now so we'll see how that goes.
Jr. Member
Dec 13, 2016
145 posts
37 upvotes
Yes...
The branches do vary a lot so I don't go to the branch that much
Better to just email your rm and ask them to do the work for you
Newbie
Mar 25, 2007
34 posts
15 upvotes
Vancouver
pzzz23 wrote:
Sep 8th, 2019 1:33 pm
Hey - Did you got your credit pull as well? I got a hard pull even though I'm new to Canada and openend the account under the Newcomers to Canada programme.
I'm not sure. At no point did my RM say she was doing a hard pull on my credit. At the same time I haven't set up a credit card with them yet. Debating if another credit card and hit is worth the $100 of rewards.
Sr. Member
Jun 26, 2010
544 posts
260 upvotes
Vancouver
motime wrote:
Sep 8th, 2019 3:17 pm
This deal seems a lot better than $300 TD is offering, anything I am missing?
I would say it's on par. If you have $25k lying around, you can make the most. But their HSBC Advance deal is the one that's about on par with TD. I think both require $5k balances and you get the monthly fee waived. No annual fee on their upper-tier credit cards.
Sr. Member
Jun 26, 2010
544 posts
260 upvotes
Vancouver
IEpicDestroyer wrote:
Sep 4th, 2019 12:05 am
How’s HSBC as a bank in general? I keep hearing “bad bad bad” for using it as a daily bank. I also noticed there’s no VISA Debit or Debit MasterCard on their cards either, just plain Interac and that’s it.
Much like other people have said, their in-branch service is not good. Mainly because too few staff servicing too many people who want to do in-person transactions. Mind you, I use the Vancouver Chinatown branch so I see a lot of little old ladies (similar to my mom), who only want to do their business face to face. If you can avoid all that, online and ATM is fine.
Way fewer branches than other big banks but don't forget, you can use credit union ATM's for free.
I signed up for Premier so I have access to a Premier Relationship Manager. I haven't had to use her too often, but she did indicate I'm able to use her for day-to-day things if I need to, like deposits, FX currencies, etc.
Jr. Member
Dec 13, 2016
145 posts
37 upvotes
shabbydog wrote:
Sep 9th, 2019 2:30 pm
I would say it's on par. If you have $25k lying around, you can make the most. But their HSBC Advance deal is the one that's about on par with TD. I think both require $5k balances and you get the monthly fee waived. No annual fee on their upper-tier credit cards.
and remember the 5k balance can be just store as GIC so you can earn interest from that as well
Deal Addict
User avatar
Feb 25, 2004
1274 posts
71 upvotes
416
shabbydog wrote:
Sep 9th, 2019 2:37 pm
Much like other people have said, their in-branch service is not good. Mainly because too few staff servicing too many people who want to do in-person transactions. Mind you, I use the Vancouver Chinatown branch so I see a lot of little old ladies (similar to my mom), who only want to do their business face to face. If you can avoid all that, online and ATM is fine.
Way fewer branches than other big banks but don't forget, you can use credit union ATM's for free.
I signed up for Premier so I have access to a Premier Relationship Manager. I haven't had to use her too often, but she did indicate I'm able to use her for day-to-day things if I need to, like deposits, FX currencies, etc.
I was disappointed to learn that just because you're with HSBC , it doesn't mean you get free withdrawals from HSBC ATM's around the world ... those are all separate entities ... this is a big downer for me ... but I'll still shift some money over there to get a few hundred bucks ...
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Sr. Member
Jun 26, 2010
544 posts
260 upvotes
Vancouver
JosephL468090 wrote:
Sep 9th, 2019 3:01 pm
and remember the 5k balance can be just store as GIC so you can earn interest from that as well
Good to know! TD is strictly chequing account at zero percent.
Jr. Member
Dec 13, 2016
145 posts
37 upvotes
grilw wrote:
Sep 9th, 2019 3:07 pm
I was disappointed to learn that just because you're with HSBC , it doesn't mean you get free withdrawals from HSBC ATM's around the world ... those are all separate entities ... this is a big downer for me ... but I'll still shift some money over there to get a few hundred bucks ...
Do you have the premier account?
if you do, then just open an account at that country, then you can use the access over there as well
no fee as long as you fulfill the requirement of premier status here in Canada
Sr. Member
Jun 26, 2010
544 posts
260 upvotes
Vancouver
grilw wrote:
Sep 9th, 2019 3:07 pm
I was disappointed to learn that just because you're with HSBC , it doesn't mean you get free withdrawals from HSBC ATM's around the world ... those are all separate entities ... this is a big downer for me ... but I'll still shift some money over there to get a few hundred bucks ...
So this is what I was told as well, BUT the reality is that I was in Hong Kong back in April, and used an HSBC ATM at HKG airport. Surprisingly, there were no ATM fees! I thought at most, I would be charged a fee in which I would be reimbursed (on their Premier Chequing plan).
There is something that other ATM's are doing, local in Canada and abroad, that you should be aware of. A lot of banks now charge their own admin fee for ATM use and it comes right out of your withdrawal. I was in Thailand and to my shock, the ATM charged me the equivalent of CAD $12 to use their ATM. And I tested every bank machine in the vicinity. Same as local banks. Although you have 'free' ATM withdrawals, local Canadian banks now charge their own $2-$3 admin fee. It's annoying.

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