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

  • Last Updated:
  • Aug 9th, 2020 2:53 pm
Deal Fanatic
Jul 22, 2007
5843 posts
4798 upvotes
Calgary
hkhorace wrote: Is there a limit when i can participate again on these promo? Was in for a previous one and only closed my account a few months ago. Wouldn’t mind opening back up one for the money
It sounds like you have to be a new customer, never had HSBC before. I did this promo last year and still maintain a savings account there so I am most likely not eligible.
Member
Dec 10, 2012
227 posts
120 upvotes
GTA
SammyDavis wrote: It sounds like you have to be a new customer, never had HSBC before. I did this promo last year and still maintain a savings account there so I am most likely not eligible.
Shame
Deal Addict
Oct 29, 2004
1288 posts
152 upvotes
milolai wrote: really the worst normal bank that exist - even before you get into their deplorable actions in China.

i say this as a Jade client now after I refinanced my mortgage with them last year

I would not recommend them to anyone despite a low rate on paper. If i was actually buying a house we would have closed 9 days late. I would have been sued and probably last the home.

I would not trust them to make me and sandwich let alone manage my money.

On rfd somehow everyone wants to jizz towards HSBC - but there is no reason to bank with them.
I've been a long time Preimere account holder, soon to be Jade. They so have a cool metal card for Jade.
Ita all stupid marketing. I don't see much of an advantage from advantage to jade. They lost my $10,000 transfer for 2 months. I called them weekly for 7 weeks to trace it. Their managers were embarrassed that they had no answer. I told them, "you want me to trust HSBC with hundreds of thousand dolllars after this?"
I'd be moving my investments after further research.

I'd be happy to take their $500 if I wasnt a current account holder but how long do you have to leave it in? You probably can get $500 on $25k in a high interest promo from another bank.
[OP]
Sr. Member
Feb 28, 2014
521 posts
602 upvotes
Leverage wrote: What do you value your time at? Did this same promo last year and ended up spending 3-4 hours in the branch (not super close to my home mind you) between the initial sign up consultation, credit card, and getting all the rewards I was entitled to (some required manual posting).
Did everything online, took me ~15 minutes? No branch visit required.
Newbie
Oct 29, 2018
38 posts
18 upvotes
deltatux wrote: Did everything online, took me ~15 minutes? No branch visit required.
I signed up online and it asked me to go to branch to provide ID verification and address. Ended up needing to book an appointment.

Will be going during lunch time so I'll just tell them do what they need to to verify my ID / address.
[OP]
Sr. Member
Feb 28, 2014
521 posts
602 upvotes
dzgzpy wrote: Repost of my post
hsbc-receive-up-500-when-you-start-bank ... #p32841713

But my post was locked tho, lol
Looks like they extended the New to Canada offer to just about anyone in Canada lol.
NayonTutu wrote: I signed up online and it asked me to go to branch to provide ID verification and address. Ended up needing to book an appointment.

Will be going during lunch time so I'll just tell them do what they need to to verify my ID / address.
Odd, they just prompted me the Equifax verification and just went through that to get my account set up. Was up and running pretty fast. I originally expected them needing me to go into branch and was pleasantly surprised when it didn't require me to do that. It just says, congrats, your account is now open, your debit card will arrive between 2-3 business days, register for online banking now.

So far my experience with HSBC has been pretty smooth.
Jr. Member
Mar 28, 2011
150 posts
77 upvotes
Oakville
very strange bank... not positive experience.
Member
Nov 14, 2007
287 posts
63 upvotes
i didnt have a good experience with them either. i had a business account with them, it had about 25k parked and its pretty much idle since I do my regular business banking with another bank, they contacted me and asked me to close the account, basically they dont want my business anymore.
Newbie
Aug 1, 2010
50 posts
23 upvotes
deltatux wrote: HSBC is doing a new switch over promo where you can get up to $1000 for moving your banking with them.

HSBC Premier
  • $500 for signing up for the account & for online banking - requires $25k deposit in either chequing or savings for 3 months.
  • Must have either $100k assets with HSBC, a $500k+ mortgage with HSBC or $6500/month income deposit + $100k verification of deposits & assets under management in Canada to qualify for HSBC Premier

HSBC Advance
  • $300 for signing up for the account & for online banking - requires $5k deposit in either chequing or savings for 3 months.
  • In order to waive fees, you need $5k in deposit at HSBC or $150k+ mortgage with HSBC.

HSBC Student Chequing & HSBC Young Savings Account
  • $100 for signing up & for online banking - requires $1k deposit for 3 months.

On top, you can get additional cash back & rewards:
  • $100 for payroll switch within 6 months
  • $50 for making 2 bill payments within 3 months
  • $50 for making 2 pre-authorized payments within 3 months
  • $50 for creating an HSBC non-registered investment account and set up a recurring investment plan
  • $50 for sending 2 International foreign exchange wires within 6 months
  • $51 for opening a safety deposit box within 6 months
  • Get first year annual fee rebate (value up to $149) on your HSBC credit card if opened within 3 months of account opening.

You must keep your account active for 12 months after you receive the payout to prevent the rewards from being clawed back.

For more on the T&Cs:
https://www.hsbc.ca/content/dam/hsbc/ca ... ria-en.pdf
Where did you see the at least 12 months opening?
Also, this seems to be excluded for QC
Sr. Member
Jan 8, 2012
638 posts
417 upvotes
Williams Lake
It's on page six of the T&C.

Search for "clawback".

And my reading has it as "one year after you receive the welcome bonus" so it might be even longer than one year.
Member
Dec 3, 2018
283 posts
220 upvotes
price31 wrote: Where did you see the at least 12 months opening?
Also, this seems to be excluded for QC
where does it say that Qc is exluded?
Newbie
Dec 7, 2008
63 posts
2 upvotes
Alright, I just signed up in person at a local branch. You need to keep the $5000 in the account for a year straight in order to keep the $300. But it can be in a savings account, or even an investment like a GIC, mutual fund etc.. Adding your payroll deposit, 2 pre-authorized payments and an online bill payment will add additional funds. My bank rep also told me I still have 1-2 weeks to quality for a referral, meaning if I find someone who's already a HSBC client, we can both qualify for an extra $100. Too bad I don't know anyone lol.

I also applied and was approved on the spot for their world elite mastercard, the bank rep was helpful and answered all my questions. Never been a client before, but so far my first impression of HSBC has been pretty positive. We shall see in this coming year I guess lol.

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