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[HSBC] Switch to HSBC to get up to $1000 back

  • Last Updated:
  • Nov 25th, 2020 9:20 pm
Deal Addict
Feb 4, 2003
2298 posts
254 upvotes
spena wrote: but you are able to still withdraw or use the bonus $$? Like others, I plan on parking the 5k and switch my payroll to hsbc (then etransfer payroll to my main bank account)
You need to deposit 5k within 30days of account open, keep 5k deposit for 3 months to qualify for welcome bonus. Then it up to you if you want to keep 5k deposit or not to waive the fee since you do need to keep the account open for 1 year after welcome bonus is deposited to your account.
Sr. Member
May 26, 2011
810 posts
606 upvotes
yookki wrote: If I would like to apply for a new account completely online, will there be a step for me to submit the referral form?
I actually don't know, because I just walked into one of the branches. I don't have a printer, so I didn't have my signed referral card, but my rep told me that I could email it to her later. So I guess it's similar with online apps, you or your referrer (only referrer needs to sign, not referree) can email it later.

For having existing credit cards with them, my rep told me I'd be still eligible for welcome and referral bonuses, although I applied for credit card a few weeks prior to opening Advance account. Strictly speaking, it's against the terms, so we'll see. I'm prepared to exit after a few months if I don't get any bonuses.

My rep told me there would be another hard inquiry by opening Advance, but after a hard inquiry for the MC early last month, I haven't seen additional one on Borrowell, it's been almost 2 weeks since I opened Advance.
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Sr. Member
May 26, 2011
810 posts
606 upvotes
yookki wrote: I signed up with them just for the welcome bonus, and it's been 1 year now. So far so good. I just park the money in GIC, nothing else.
When you signed up last year, the rate was much better, but their 1 year GIC at 0.55% just doesn't cut it for me, so I'll probably sign up for their InvestDirect.

Sixty trades are free first 60 days, then there's a $25 dormancy fee if no tradings in rolling 3 mo, so I guess I'll buy high dividend paying Canadian split funds gradually first 60 days, then add or reduce my position at least once in 3 mo for $6.88.

I watched their demo videos, their trade platform seems decent.
Freedom mobile, airbnb, AMEX, Great Canadian Rebates (GCR), Ebates, Top Cash Back, Groupon, Livingsocial, Doordash, SkipTheDishes, Checkout 51, Drop, Stack, TransferWise, Questrade, EQ, Achieva, PayTM, Simplii and Tangerine customer.
Deal Addict
Jun 19, 2006
2039 posts
279 upvotes
Toronto
yookki wrote: I signed up with them just for the welcome bonus, and it's been 1 year now. So far so good. I just park the money in GIC, nothing else.
maverikbc wrote: When you signed up last year, the rate was much better, but their 1 year GIC at 0.55% just doesn't cut it for me, so I'll probably sign up for their InvestDirect.

Sixty trades are free first 60 days, then there's a $25 dormancy fee if no tradings in rolling 3 mo, so I guess I'll buy high dividend paying Canadian split funds gradually first 60 days, then add or reduce my position at least once in 3 mo for $6.88.

I watched their demo videos, their trade platform seems decent.
Are you guys moving the $ from chequing account to a different GIC or investment account? I thought you need to leave the the money in the chequing account for a year.
Deal Addict
Jun 19, 2006
2039 posts
279 upvotes
Toronto
addicted2it wrote: Took just over 3 months but a family member that I referred received their bonuses today - 300 for the Premier account + 100 for payroll + 50 for Pre-authorized debit.

The payroll one actually came a few days ago.
Premier account is $500, not $300.
Deal Addict
Feb 4, 2003
2298 posts
254 upvotes
albundy99999999 wrote: Are you guys moving the $ from chequing account to a different GIC or investment account? I thought you need to leave the the money in the chequing account for a year.
It is total relationship balance, and therefore you can use the funds in other accounts to meet the balance requirements.
Deal Addict
User avatar
Oct 23, 2006
4686 posts
1676 upvotes
Winnipeg
Just received my first bonus on Premier Account:

CR MEMO $100
STEP BONUS

Curious which one that is for ? Maybe Direct Deposit?
Sr. Member
User avatar
Apr 4, 2017
749 posts
482 upvotes
canuckcolehead wrote: Just received my first bonus on Premier Account:

CR MEMO $100
STEP BONUS

Curious which one that is for ? Maybe Direct Deposit?
I think that's the referral bonus.
Deal Addict
User avatar
Oct 23, 2006
4686 posts
1676 upvotes
Winnipeg
oasis_njdevils wrote: How soon do the bonuses come in once you complete a step?
3 months following the month the step was completed.

Ex if you finish the 2 recurring PADS for 3 months by dec 31, you should see the bonus by end of March/April

If you did a Direct Deposit in September, you should see the bonus by January.
Deal Addict
Feb 4, 2003
2298 posts
254 upvotes
How do you guys like your Relationship manager? I have email her a few times and i barely get any response back and i have to call in to follow-up. Not feeling the personalize service, seems like i still have to do all the work anyways.
Sr. Member
Nov 4, 2011
612 posts
365 upvotes
YYZ
yookki wrote: If I would like to apply for a new account completely online, will there be a step for me to submit the referral form?
No. If you apply online, you need to get in touch with an RM to do the paperwork for you. It's best if you have the person referring you work with their RM and you to ensure the referral gets done properly,
Sr. Member
Jun 26, 2010
708 posts
426 upvotes
Vancouver
zzricezz wrote: How do you guys like your Relationship manager? I have email her a few times and i barely get any response back and i have to call in to follow-up. Not feeling the personalize service, seems like i still have to do all the work anyways.
I've had mine for almost 2 years and have to say it's underwhelming. I'm not entirely sure if I can bug her about the most mundane things like,,, branch deposit because I don't feel like standing in line (the lines at my Vancouver Chinatown branch are insane).
She's been fine for things where I need a to set up an RRSP loan and I need things expedited, she'll have all the documents ready to sign and I'm in and out in less than 5 minutes. I normally expect her to take a whole day to reply to an inquiry, so I've lowered my expectations. Sometimes it has been the next day, and worst case was when she didn't set up an out-of-office message.
Sr. Member
Jun 26, 2010
708 posts
426 upvotes
Vancouver
The downvotes are mainly for their perception of bad service at HSBC but as far as getting the bonus, it couldn't be more straight-forward.
Deal Addict
Jul 15, 2009
1992 posts
1119 upvotes
shabbydog wrote: The downvotes are mainly for their perception of bad service at HSBC but as far as getting the bonus, it couldn't be more straight-forward.
Has anyone received the bonus for the Premier account despite already having the credit card beforehand?

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