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

  • Last Updated:
  • Nov 2nd, 2019 12:34 pm
Newbie
May 8, 2019
3 posts
1 upvote
Kelowna
headleygrange wrote:
Aug 25th, 2019 10:11 pm
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 Smiling Face With Open Mouth
Deal Fanatic
Oct 1, 2004
5894 posts
531 upvotes
Toronto
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?
Member
Nov 10, 2007
260 posts
20 upvotes
toronto
What is the minimum deposit for each account? To avoid banking fees
Deal Addict
User avatar
Jan 18, 2008
1289 posts
228 upvotes
Toronto
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?
Jr. Member
Dec 13, 2016
159 posts
43 upvotes
supplementking wrote:
Aug 26th, 2019 10:20 am
What is the minimum deposit for each account? To avoid banking fees
Advance 5000
Premier 1000000
Deal Addict
Oct 7, 2008
1299 posts
445 upvotes
You need 1 million TRB for a Jade is anyone is wondering. All of our readership should easily qualify.
Penalty Box
Jul 17, 2017
99 posts
40 upvotes
BC
jurassic98 wrote:
Aug 26th, 2019 10:22 am
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?
You can still qualify without the payroll. You just don't get the payroll bonus. There is also the seperate small business referral bonus.

For payroll deposits to count, they have to have a certain code or flag in the system iirc.
Member
User avatar
Nov 13, 2016
255 posts
242 upvotes
Montreal
jurassic98 wrote:
Aug 26th, 2019 10:22 am
can anyone please share insight how a self-employee (incorporate/business) can take the same advantage ? The reason I asked ..personal account "$100 for direct deposit " how do you proof direct deposit to your personal account ... when you pay your business to yourself?
You can be referred to a business account. Recently HSBC had 240 / 250$ WB on the business account as well but i think its over now. They have a free business account promo for a limited time promo now i believe.

If you are an incorporated business - you will definitely don't want to use a personal account for business use. Regarding DD, I am not sure of this route but I think if you can talk to a pay day loan provider and negotiate a small payday loan, you will be able to have it deposited to your account as payday loans are usually DD.

But if you are writing yourself a check / interac from your business - that won't qualify. Other way is to enroll to a payroll providers basic plan and let them run the payroll for your business. But for 100$ i think its a lot of hassle.

STEP is eligible for Business Accounts as well but the WB is different. [removed]
Last edited by Mars2012 on Aug 26th, 2019 11:52 am, edited 1 time in total.
Reason: not allowed
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Member
User avatar
Nov 13, 2016
255 posts
242 upvotes
Montreal
JosephL468090 wrote:
Aug 26th, 2019 10:29 am
Advance 5000
Premier 1000000
For premier you need only 25K on account opening; you have 6 months (sometimes more depending on how you convince your RM) to have 100K moved. If you dont have 100K within qualification criteria - you will be charged Monthly fee. But again, i know that the RM can waive the fee for 1-2 months more. But its highly YMMV.
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Jr. Member
Dec 13, 2016
159 posts
43 upvotes
rfdjugaad wrote:
Aug 26th, 2019 10:39 am
For premier you need only 25K on account opening; you have 6 months (sometimes more depending on how you convince your RM) to have 100K moved. If you dont have 100K within qualification criteria - you will be charged Monthly fee. But again, i know that the RM can waive the fee for 1-2 months more. But its highly YMMV.
my experience had been you don't need any money to open your account and you can tell the RM that I will put in X amount in Y amount of time.
easy for them to waive the fee as long as it is not crazy like a year or something
Plus they count everything in your account, so you can say like I will transfer the TFSA etc and it is going to take some time
Member
User avatar
Nov 13, 2016
255 posts
242 upvotes
Montreal
JosephL468090 wrote:
Aug 26th, 2019 10:45 am
my experience had been you don't need any money to open your account and you can tell the RM that I will put in X amount in Y amount of time.
easy for them to waive the fee as long as it is not crazy like a year or something
Plus they count everything in your account, so you can say like I will transfer the TFSA etc and it is going to take some time
For this promo, they mandate moving 25K to the account. When I opened mine i only moved 15K and later moved rest to investment accounts slowly.

Yes, I completely agree that as long as your RM is cooperating - Premier is not a hassle. On the contrary, It is really helpful if you happen to be an immigrant or need international banking (for access to international markets / diversing geographic risk etc).

As a premier in one country, you automatically qualify for premier in another country. And depending on each country's premier package - the benefits can be extended to family (including parents & siblings).

In Canada, from what I know - premier privilege can be extended only to Spouse / Common Law Partner & Kids. But for example, In India, Premier can be extended to parents and siblings. And being premier in Canada, automatically makes me premier in India and say another country.

IMHO, its a great offering - if you can utilize its potential.
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Jr. Member
Dec 27, 2012
175 posts
44 upvotes
BURNABY
Have very good experience with this promotion, last year. I opened an Advance account with them last year Sept; was offered $500 under New Immigrant category: $300 Advance Chequing + $200 New Immigrant; Got extra $100 for Payroll, and another $100 for Referral: Total add up to $700. Still enjoying the 3% Saving Account promotion till next month.
Newbie
Mar 23, 2019
77 posts
49 upvotes
AustinPower wrote:
Aug 26th, 2019 10:55 am
Have very good experience with this promotion, last year. I opened an Advance account with them last year Sept; was offered $500 under New Immigrant category: $300 Advance Chequing + $200 New Immigrant; Got extra $100 for Payroll, and another $100 for Referral: Total add up to $700. Still enjoying the 3% Saving Account promotion till next month.
Same here, I opened advanced account in Oct.
Sr. Member
Jun 26, 2010
570 posts
298 upvotes
Vancouver
What are the basic benefits of being a Premier customer? I understand you have a "relationship manager". Does that mean you can bypass the queue for the CSR's and utilize your personal relationship manager for day to day services?

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