Hot Deals

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

  • Last Updated:
  • Sep 16th, 2019 7:48 pm
Deal Addict
User avatar
Feb 25, 2004
1259 posts
71 upvotes
416
shabbydog wrote:
Sep 9th, 2019 3:14 pm
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.
And this is why Simplii doesn't work for me anymore.
The opinions expressed herein are neither opinions, nor expressed.
Sr. Member
Dec 12, 2010
642 posts
127 upvotes
shabbydog wrote:
Sep 9th, 2019 3:14 pm
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.
I used my Canadian HSBC debit card in singapore airport and was also not changed any ATM fees.
Sr. Member
Dec 25, 2017
970 posts
698 upvotes
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 got a problem with TD and how there’s lines up to 30 minutes at branches. They’re great due to their hours but I really got a issue with the lines at their branches.

How long are lines at HSBC?
Newbie
Dec 4, 2017
26 posts
4 upvotes
If I open with new to Canada program, how much I have to have in account to save from clawback?
Newbie
Jul 17, 2017
63 posts
23 upvotes
BC
dealhntr wrote:
Sep 9th, 2019 6:04 pm
If I open with new to Canada program, how much I have to have in account to save from clawback?
The terms is $10,000 into chequing account, and then you can move that to GIC or HISA.

EDIT: To clarify, you need to deposit $10,000 with HSBC, however, you only need to keep $5,000 in the account for Advance. So you can move in $10,000, then move out $5,000, and move $5,000 to GIC or HISA. To be safe, you can keep $10,000 with them for 3 months until your bonus post. Once it does, only $5,000 is needed for the next 12 months.

(ii) For Advance: You must have at least one of the following:a. Total Relationship Balance of $5,000 CAD or more

To be eligible for the Joining Bonus Reward Offer, you and any individual holding the Eligible Account jointly with you must first:(i) Deposit a minimum $10,000 CAD total balance in the Eligible Account within one (1) month of opening the Eligible Account;

Clawback (i) The Joining Bonus Reward Offer is subject to the condition that the Eligible Account must remain open and in good standing for at least one (1) calendar year after the end of the month during which the Joining Bonus Reward Offer is received. If you fail to meet this condition, you will be obligated to repay the full amount of the Joining Bonus Reward Offer to HSBC.
Last edited by StickmansamV on Sep 9th, 2019 6:24 pm, edited 1 time in total.
Newbie
Jul 17, 2017
63 posts
23 upvotes
BC
IEpicDestroyer wrote:
Sep 9th, 2019 6:02 pm
I got a problem with TD and how there’s lines up to 30 minutes at branches. They’re great due to their hours but I really got a issue with the lines at their branches.

How long are lines at HSBC?
Depends on the time of the day and your local branch. I have 2 branches I frequent, one has 3 counters so it can take a while, the other has like 6 and is much faster. They do tend to have enough staff IMO to populate all their counter space.
I've been able to get in quickly under 5mins, also had waits up to 20-30min. But usually about 10min or less.

If you are Premier, you can get your RM to do the legwork as well
Sr. Member
Dec 25, 2017
970 posts
698 upvotes
StickmansamV wrote:
Sep 9th, 2019 6:17 pm
Depends on the time of the day and your local branch. I have 2 branches I frequent, one has 3 counters so it can take a while, the other has like 6 and is much faster. They do tend to have enough staff IMO to populate all their counter space.
I've been able to get in quickly under 5mins, also had waits up to 20-30min. But usually about 10min or less.

If you are Premier, you can get your RM to do the legwork as well
Unfortunately, I don’t want to drop $25k in deposits with them, at least not for now, so I’m only doing HSBC Advance if I decide to sign up. Since I wouldn’t be Premier, I won’t have access to a RM.
The wait times sound familiar, I’ve gotten out of TD faster than the ATM line at three minutes, including the transaction itself, but then I’ve gotten up to 30 minute lines lately which I’m quite fed up with. If it’s the same, I guess it’s not really a major problem to hate at this rate, considering what TD is doing to me.

They should really add Visa Debit or Debit Mastercard to their cards....
Newbie
Jul 17, 2017
63 posts
23 upvotes
BC
IEpicDestroyer wrote:
Sep 9th, 2019 6:34 pm
Unfortunately, I don’t want to drop $25k in deposits with them, at least not for now, so I’m only doing HSBC Advance if I decide to sign up. Since I wouldn’t be Premier, I won’t have access to a RM.
The wait times sound familiar, I’ve gotten out of TD faster than the ATM line at three minutes, including the transaction itself, but then I’ve gotten up to 30 minute lines lately which I’m quite fed up with. If it’s the same, I guess it’s not really a major problem to hate at this rate, considering what TD is doing to me.

They should really add Visa Debit or Debit Mastercard to their cards....
I suggest perhaps swinging by your local branch to check out their situation before taking the leap. It may be that your branch may be one of the larger ones and quite fast, or could sadly be a smaller slower one. Other than my main 2 branches, there is another one 15 minutes further away with about 10 counters which is always fast.

Do you tend to use a branch and counter services a lot?
Member
User avatar
Jun 27, 2017
366 posts
478 upvotes
GTA
dealhntr wrote:
Sep 9th, 2019 6:04 pm
If I open with new to Canada program, how much I have to have in account to save from clawback?
StickmansamV wrote:
Sep 9th, 2019 6:12 pm

The terms is $10,000 into chequing account, and then you can move that to GIC or HISA.

EDIT: To clarify, you need to deposit $10,000 with HSBC, however, you only need to keep $5,000 in the account for Advance. So you can move in $10,000, then move out $5,000, and move $5,000 to GIC or HISA. To be safe, you can keep $10,000 with them for 3 months until your bonus post. Once it does, only $5,000 is needed for the next 12 months.

(ii) For Advance: You must have at least one of the following:a. Total Relationship Balance of $5,000 CAD or more

To be eligible for the Joining Bonus Reward Offer, you and any individual holding the Eligible Account jointly with you must first:(i) Deposit a minimum $10,000 CAD total balance in the Eligible Account within one (1) month of opening the Eligible Account;

Clawback (i) The Joining Bonus Reward Offer is subject to the condition that the Eligible Account must remain open and in good standing for at least one (1) calendar year after the end of the month during which the Joining Bonus Reward Offer is received. If you fail to meet this condition, you will be obligated to repay the full amount of the Joining Bonus Reward Offer to HSBC.
The newcomer program only needs the initial deposit of 10K. You can keep it in your account until you receive the cash bonus if you want to be sure (within 3 months). You can then move that 10K to wherever you like, GIC or take it out, whatever. You don't need to keep 5K (to waive monthly fees) in there the whole time because you also get the 12-month account fee waiver. Just keep the account open 12 months after you get the cash bonus. So technically, you'll only need to keep 5K in there to avoid fees at the tail end (maybe 3 months) of the account life.
Newbie
Jul 17, 2017
63 posts
23 upvotes
BC
Bratcoin wrote:
Sep 9th, 2019 6:48 pm
The newcomer program only needs the initial deposit of 10K. You can keep it in your account until you receive the cash bonus if you want to be sure (within 3 months). You can then move that 10K to wherever you like, GIC or take it out, whatever. You don't need to keep 5K (to waive monthly fees) in there the whole time because you also get the 12-month account fee waiver. Just keep the account open 12 months after you get the cash bonus. So technically, you'll only need to keep 5K in there to avoid fees at the tail end (maybe 3 months) of the account life.
Yes I see it. I suppose that you do not lose the waiver, even if your account balance exceeds $5000, then drops back below. Given the +1% GIC offer, its not terrible for putting some funds there.
Fulfilment (i) If your Eligible Account is an HSBC Premier or HSBC Advance chequing account, you will automatically be given twelve (12) months to meet the Minimum Qualifying Balance for either HSBC Premier or HSBC Advance. (ii) If you do not meet the Minimum Qualifying Balance after twelve (12) months, you will be charged: a. For HSBC Premier, a Below Minimum Qualifying Balance Fee for your respective HSBC account as set out in HSBC’s Personal Service Charges/Statement of Disclosure available at any HSBC branch or online at www.hsbc.cab. For HSBC Advance, a Below Minimum Qualifying Balance Fee for your respective HSBC account as set out in HSBC’s Personal Service Charges/Statement of Disclosure available at any HSBC branch or online at www.hsbc.c
Deal Addict
User avatar
Feb 25, 2004
1259 posts
71 upvotes
416
my appointment with them has been getting postponed every day for the last 3 days because apparently their systems are down for unboarding anyone else having similar issue?
The opinions expressed herein are neither opinions, nor expressed.
Newbie
Aug 29, 2017
82 posts
13 upvotes
Do you need to go to a branch to open an account even if you apply online?
Newbie
Mar 23, 2019
70 posts
46 upvotes
redflagcat wrote:
Sep 10th, 2019 1:36 pm
Do you need to go to a branch to open an account even if you apply online?
I think visiting a branch is needed.
Newbie
Jul 17, 2017
63 posts
23 upvotes
BC
redflagcat wrote:
Sep 10th, 2019 1:36 pm
Do you need to go to a branch to open an account even if you apply online?
I am currently working on trying to get one done online. It seems that it can be done, but might take some followup.
Deal Addict
Sep 14, 2015
1216 posts
744 upvotes
Mont-Royal, QC
$34.95 Monthly fee

Monthly fee waived if you have:
$100,000 minimum balance

so $500 bonus only pay off fees for 14 months unless you have 100k in your checking

Top