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

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  • Dec 29th, 2020 9:34 am
Deal Addict
Oct 7, 2008
2195 posts
1140 upvotes
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You need 1 million TRB for a Jade is anyone is wondering. All of our readership should easily qualify.
Jr. Member
Jul 17, 2017
154 posts
68 upvotes
BC
jurassic98 wrote: 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
380 posts
404 upvotes
Montreal
jurassic98 wrote: 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
380 posts
404 upvotes
Montreal
JosephL468090 wrote: 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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Member
Dec 13, 2016
389 posts
198 upvotes
rfdjugaad wrote: 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
380 posts
404 upvotes
Montreal
JosephL468090 wrote: 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
199 posts
55 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.
Member
Mar 23, 2019
359 posts
197 upvotes
AustinPower wrote: 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
822 posts
549 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?
Member
Dec 13, 2016
389 posts
198 upvotes
shabbydog wrote: 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?
you get to use their special bank section with fancy sofa and coffee, works oversea as well. I just go in and show my card and sit and grab a coffee or ask for direction
there is also a special line at the branch so you can get to the CSR quicker
and yes
you can utilize your RM for day to day stuff and RM helps you with any questions
[removed]
Last edited by Mars2012 on Aug 26th, 2019 11:51 am, edited 1 time in total.
Reason: not allowed
Member
Mar 12, 2009
234 posts
120 upvotes
Toronto
I just wanted to double check with you experts here before doing this.
By opening an advanced account, and referring my wife to open the same account
I will get
$300 for welcome bonus
$100 for being referred by someone
$100 for referring my wife to open the same account

Wife will get
$300 for welcome bonus
$100 for being referred by me

Let me know if this looks correct.
Thanks in advance

P.S. Oh and the minimum for the monthly fee to be waived is $5000 in the account correct? Going to put it in TFSA and then in to GIC for that 2.5%
Deal Fanatic
Dec 11, 2003
8440 posts
974 upvotes
It looks like keeping the money in a TFSA high rate account is the most flexible option? 1.15% unless GIC is significantly higher - I can only find a 1.45% 1 year GIC.
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User avatar
Aug 20, 2005
2726 posts
2070 upvotes
HSBC is more aggressive these days in the market. New leadership?
Member
Mar 23, 2019
359 posts
197 upvotes
BrethrenJx wrote: I just wanted to double check with you experts here before doing this.
By opening an advanced account, and referring my wife to open the same account
I will get
$300 for welcome bonus
$100 for being referred by someone
$100 for referring my wife to open the same account

Wife will get
$300 for welcome bonus
$100 for being referred by me

Let me know if this looks correct.
Thanks in advance

P.S. Oh and the minimum for the monthly fee to be waived is $5000 in the account correct? Going to put it in TFSA and then in to GIC for that 2.5%
There is one clause in the t&c that you need to deposit 10k into the chequing account within 1 month opening account.

What I did back in last Oct, I deposited 10k and moved the 10k into saving after 1 week, moved 5k out to other high interest bank account after 1 month. Got all the bonus with no issue.

[removed]
Last edited by Mars2012 on Aug 26th, 2019 11:55 am, edited 1 time in total.
Reason: not allowed
Member
Mar 23, 2019
359 posts
197 upvotes
raccoon wrote: HSBC is more aggressive these days in the market. New leadership?
This bonus program started before they had new leadership I assume.
Jr. Member
Jul 17, 2017
154 posts
68 upvotes
BC
BrethrenJx wrote: I just wanted to double check with you experts here before doing this.
By opening an advanced account, and referring my wife to open the same account
I will get
$300 for welcome bonus
$100 for being referred by someone
$100 for referring my wife to open the same account

Wife will get
$300 for welcome bonus
$100 for being referred by me

Let me know if this looks correct.
Thanks in advance

P.S. Oh and the minimum for the monthly fee to be waived is $5000 in the account correct? Going to put it in TFSA and then in to GIC for that 2.5%
Yes that all looks good. You could get more with the payroll and MC as well. You can ask about the bonus HISA introductory rate, I don't know if that promotion is still happening.
Sr. Member
Sep 16, 2010
954 posts
360 upvotes
Toronto
Looks like the promotion is ending Sept 30. Will look into this. Thanks OP!
Deal Addict
Dec 8, 2008
1187 posts
237 upvotes
Montreal, QC
Did mine last year in Montreal, easy peasy, parked my 5k and got a bunch of referral bonuses from friends
Member
Jul 3, 2019
258 posts
314 upvotes
dzgzpy wrote: There is one clause in the t&c that you need to deposit 10k into the chequing account within 1 month opening account.
Which clause says that you have to deposit $10k into the chequing account? I only see this:

HSBC Advance requires you to have an active HSBC Advance Chequing account, and maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $5,000 or hold personal HSBC Bank Canada residential mortgage balances of $150,000 or greater. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above six months after account opening. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges/Statement of DisclosurePersonal Service Charges/Statement of Disclosure This link will open in a new window available at any HSBC Bank Canada branch or online at www.hsbc.ca.

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