Hot Deals

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

  • Last Updated:
  • Aug 9th, 2020 2:12 pm
Member
Aug 12, 2010
203 posts
21 upvotes
Toronto
ONE OF THE WORST RETAIL BANKING EXPERIENCE EVER
Sr. Member
Feb 23, 2005
767 posts
169 upvotes
hsbc if is not the worst bank, very close to it. from my personal experience:
-overall, the way to access the bank is different from most Canadian banks, uncomfortable.
-Staff is unprofessional or incompetent, not an isolated case.
-hard to get resolved if anything goes wrong
-by far we (family and friends) total opened 5 accounts, none of them received the full amount of cash incentive, still fighting for it.
-after 8 months still can't access one of the business account.
-totally regretting, not worth the hassle and time wasted at all.
Deal Addict
Feb 28, 2006
3393 posts
83 upvotes
Toronto
worst bank. they dont care about you
...
Deal Fanatic
Dec 16, 2005
5031 posts
2916 upvotes
I tried to do a mortgage with these guys last year. It was a disaster. No one gets back to you.

Ended up just renewing with BMO because time ran out.
Jr. Member
Jul 8, 2010
147 posts
44 upvotes
Toronto
I’ve been a Premier customer for a couple of years now — no major issues to speak of.

Compared to major banks, below RBC, TD,CIBC in terms of the number of branches, better than Bank of NS , National Bank
Deal Fanatic
User avatar
Mar 8, 2005
5663 posts
681 upvotes
Been with hsbc since June left year, when moving for my mortgage over.

Their online banking interface is very mediocre. Lacks a lot of functionality and information compare to a domestic bank. I decide to treat this account as my payroll only account and do my daily banking with tangerine.
Deal Fanatic
Jul 8, 2010
7184 posts
413 upvotes
York
I did this in the past and closed my account about 6 months ago. Would I be eligible to do it again?
Deal Addict
Jul 26, 2006
2206 posts
559 upvotes
Sprite_TM wrote: worst bank. they dont care about you
After opening and closing and A/C, my experience is that the staff have to absolutely follow HSBC rule book. No discretion whatsoever for the tellers which make a disagreeable experience. I missed so many things that my local bank gives me. Like no-hold cheques/bank draft, large cc limit, more branches, etc. In the end, it was not a value move for the little money that was saved.
Member
Jun 11, 2015
377 posts
387 upvotes
Vancouver, BC
I agree with the general chorus of complaints about HSBC.

HSBC has the worst IT and procedures of any bank I've used, and I've used 50+ different banks.

If you do not need international transfers outside of Canada / US, I would avoid.
Newbie
May 21, 2015
49 posts
20 upvotes
Montreal, QC
price31 wrote: Terms & Conditions
https://www.hsbc.ca/content/dam/hsbc/ca ... fer-en.pdf
"This offer is only available to residents of Canada other than the province of Quebec"

or even directly in the link provided, search for the word QUEBEC
My understanding it refers to their credit card offer only, that’s why QC residents have a separate offer.

Hope it helps.
Deal Addict
Apr 15, 2009
4987 posts
2850 upvotes
M-Arkham
TWELVES wrote:
If you do not need international transfers outside of Canada / US, I would avoid.
Historically, that is what they are good at(only thing they're really good at in Canada), since they did get started by laundering opium and other type of money outta Asia for the Brits.


And yeah, their phone app and website interface is a horrible piece of crap
2x Zoomer $36 for 5GB , 800min Can wide talk n unlimited txt
1x Fido $40 for 5GB w/ unlimited Can Wide txt/talk small plan(+3GB bonus )
Sr. Member
May 26, 2011
715 posts
484 upvotes
TWELVES wrote:
HSBC has the worst IT and procedures of any bank I've used, and I've used 50+ different banks.

If you do not need international
Worse than NBC?

Any reports of successfully getting WB and referral bonus by returning customers? The terms sound like it's once in a lifetime deal, though.

I used have a savings account till 5 years ago, until I got fed up with their security device, which generated different PIN each time. Who takes that along when traveling?

Until around 10 years ago, it was free (I don't remember if they added FTF like Scotia Global Alliance) ATM access at any HSBC in the world, but that security device was the nail in the coffin.

I've never been referred, by the way.
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
User avatar
Apr 30, 2005
2747 posts
656 upvotes
Mars
HSBC is cutting 35,000 jobs. the profit and stock price are at the historical lowest point. i'm not jumping on a sinking ship.
Sr. Member
Jul 12, 2005
564 posts
286 upvotes
I signed up around October 2019.

I can vouch for HSBC. I didn't even need to harass them, the bonus just showed up in my account this summer.

I never set foot in a physical bank to setup my account either, which was nice.

Security is tighter than TD, which I actually prefer. OTP via phone app / fingerprint.

No charges so far. For transfers, balance, etc.

Negatives were moving money around. They wanted to charge for wire transfers between banks but you can do daily ETF transfers of $3k to get around this... slowly. The $3k limit was imposed by them.

TD is my primary bank.
PC Financial was my backup.
HSBC may be my new backup as it has uses internationally.
Sr. Member
Jul 12, 2005
564 posts
286 upvotes
Brewmeanie wrote:
Historically, that is what they are good at(only thing they're really good at in Canada), since they did get started by laundering opium and other type of money outta Asia for the Brits.
Sorry to hear. Hopefully your family was able to get the addiction councilling they needed.

Top

Thread Information

There are currently 14 users viewing this thread. (6 members and 8 guests)

thecentury303, cardboardperson, vesatoskala89, boys4, LonesomeDove, sputnik99112