Expired Hot Deals

[HSBC] Small Business account ($300 Bonus) ($5 Monthly Fee)

  • Last Updated:
  • Oct 12th, 2019 12:13 pm
[OP]
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Oct 21, 2015
9913 posts
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Ontario

[HSBC] Small Business account ($300 Bonus) ($5 Monthly Fee)

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Retailer:
HSBC
More offers from HSBC
Monthly Fee = $5
No monthly fee until Dec 31 2019
Bonus = $300

HSBC Start Chequing
A low fee option for businesses just starting out.

10 transactions per month
Deposit fees:
‒ Cheques: $0.20 each
‒ Cash: $2.50 per $1,000 deposited / month


T&C
https://www.hsbc.ca/content/dam/hsbc/ca ... unt-en.pdf
Costco is closed today (April 4th 2021) even in Quebec
19 replies
Sr. Member
Apr 8, 2007
750 posts
156 upvotes
Thank you!! Just starting out~~
Running on hackintosh in 2011: I5 ivy Bridge 3.10 HD3000, Zotac 1030 2G video card, HDMI 2.0 cable, 16G RAM( max out at 1600mhz) on a Gigabyte GA-B75M-D3H Mobo with ITB Crucial MX500 SSD, With 4K 60HZ UM7300AUE as a monitor> Retina Display
Deal Fanatic
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Jan 27, 2014
5316 posts
2300 upvotes
Can you cancel after Dec 31 and get $300 bonus?
Sr. Member
Apr 8, 2007
750 posts
156 upvotes
How do you churn this? Lmao..

~~~
I am in BC, I just think the way that HSBC would compensate me for registering a business.( you can either do it online for free or feel free PM me for ownr referral code)
Running on hackintosh in 2011: I5 ivy Bridge 3.10 HD3000, Zotac 1030 2G video card, HDMI 2.0 cable, 16G RAM( max out at 1600mhz) on a Gigabyte GA-B75M-D3H Mobo with ITB Crucial MX500 SSD, With 4K 60HZ UM7300AUE as a monitor> Retina Display
Deal Expert
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May 8, 2009
49516 posts
5860 upvotes
Toronto
julian3216 wrote: Credited the bonus within 3 months of hitting the eligibility. Need to keep the account in good standing for 6 months after bonus.

https://www.hsbc.ca/content/dam/hsbc/ca ... fer-en.pdf
Thx. About $30 in monthly fees across 6 months, since you don't pay a monthly fee until January 2020. If you want worst case scenario it's about $45 across 9 months as it could take up to 3 months to get the cashback once eligible, then 6 months after.

Not like the other $300 cash bonus promos where you have to fulfill PAD's. Looks like a sign up for a small business account and cancel after 6-9 months depending.
Deal Addict
Sep 2, 2014
1785 posts
554 upvotes
Richmond Hill, ON
ovovov wrote: How do you churn this? Lmao..

~~~
I am in BC, I just think the way that HSBC would compensate me for registering a business.( you can either do it online for free or feel free PM me for ownr referral code)
How much is the referral bonus?
can a personal account owner refer a small business account?
Deal Addict
Sep 2, 2014
1785 posts
554 upvotes
Richmond Hill, ON
Except for opening a small business account, what need to do to get the bonus? Do I need to do direct deposit(revenue) to it?
Thatdealguy wrote: Monthly Fee = $5
No monthly fee until Dec 31 2019
Bonus = $300

HSBC Start Chequing
A low fee option for businesses just starting out.

10 transactions per month
Deposit fees:
‒ Cheques: $0.20 each
‒ Cash: $2.50 per $1,000 deposited / month


T&C
https://www.hsbc.ca/content/dam/hsbc/ca ... unt-en.pdf
[OP]
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User avatar
Oct 21, 2015
9913 posts
67163 upvotes
Ontario
MrBigNose wrote: Except for opening a small business account, what need to do to get the bonus? Do I need to do direct deposit(revenue) to it?
just need to open a chequing account.

This seems like the best "cheap monthly fee" for business accounts.

another one is BMO but they charge for everything
Costco is closed today (April 4th 2021) even in Quebec
Deal Addict
Sep 2, 2014
1785 posts
554 upvotes
Richmond Hill, ON
RBC used to have a free small business eAccount which was free if you do everything online. They "upgrade" it to another account with $5/month which adds 10 interac etransfers.
Thatdealguy wrote: just need to open a chequing account.

This seems like the best "cheap monthly fee" for business accounts.

another one is BMO but they charge for everything
[OP]
Deal Fanatic
User avatar
Oct 21, 2015
9913 posts
67163 upvotes
Ontario
MrBigNose wrote: RBC used to have a free small business eAccount which was free if you do everything online. They "upgrade" it to another account with $5/month which adds 10 interac etransfers.

so HSBC copied RBC?
Costco is closed today (April 4th 2021) even in Quebec
Member
Feb 4, 2017
308 posts
364 upvotes
Thatdealguy wrote: just need to open a chequing account.

This seems like the best "cheap monthly fee" for business accounts.

another one is BMO but they charge for everything
You don't get charged for online/non-teller transactions with the BMO free account.
Deal Addict
Sep 2, 2014
1785 posts
554 upvotes
Richmond Hill, ON
Thatdealguy wrote: so HSBC copied RBC?
I meant RBC replaced free eAcount with a $5/month account.
I don't know what's included in HSBC $5 small business account.
Deal Addict
Dec 21, 2006
1436 posts
235 upvotes
Ottawa
Does HSBC offer any saving/investing option for business account funds?
Deal Addict
Jan 25, 2008
1932 posts
1775 upvotes
Montréal
Is this a good option compared to td business account?
Sr. Member
User avatar
Oct 17, 2010
644 posts
301 upvotes
Terrace
Great find! Just starting out might take advantage of this. I did look at bmo as well but I'm already with them for personal use.
Deal Expert
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Feb 11, 2009
18855 posts
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Toronto
BMO is the best for a business account, they have a a free online only account if you don't have cash transactions. Been working great for me, unlimited transactions.
Real Estate Agent, MAcc, CPA, CA
Newbie
Oct 13, 2019
12 posts
149 upvotes
I was looking into signing up online but i’m having a problem. I checked the terms and conditions as to what qualifies as a business and it clearly states a “sole proprietorship” as one of them but when i try to sign up online it gives me a choice between a partnership and a corporation for the structure of my business..

I think I may have to call them or go into a branch to get this done properly

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