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

  • Last Updated:
  • Oct 26th, 2020 3:09 am
Deal Addict
Feb 6, 2005
1531 posts
215 upvotes
Toronto
given the situation they are in Hong Kong and association with China, I would not trust it's viability long term especially with the way US is going for the next few months.
Deal Addict
May 3, 2008
1396 posts
845 upvotes
Markham
Able to sign up for both advance checking acct and WE credit card online. Did not ask to verify ID in person.
Account setup is instantaneous. WE takes like 3 days.

This online chat support is top notch, no waiting time the 2 times I ended them.

It needs phone app to be setup as well to generate a security passcode every time u log on using ur laptop. More security than just a preset password.

The only downside I see is no direct link to other FI. Can only deposit/withdrawal via ETF.
Newbie
Jan 18, 2017
56 posts
21 upvotes
Thanks. Was able to open advance account online. No issues so far.
Newbie
Sep 29, 2009
10 posts
1 upvote
My sister just opened a joint premier account with her husband and her son, she was told each would get $500 cash back reward.
Newbie
Oct 20, 2013
76 posts
13 upvotes
Toronto
I don’t get the negative feedback. Open the account, get the promos and close the accounts
Deal Addict
Jul 30, 2005
1950 posts
87 upvotes
anthonys92 wrote: I don’t get the negative feedback. Open the account, get the promos and close the accounts
I agree - opened the account and also took part in the payroll deposit / pre-authorised debit. Total promo amount of $650 so far. Have also referred an RFDer and hopefully will get another 100 from that referral.
Sr. Member
Jun 26, 2010
695 posts
416 upvotes
Vancouver
vaporize wrote: given the situation they are in Hong Kong and association with China, I would not trust it's viability long term especially with the way US is going for the next few months.
Despite its name, HSBC is UK-based bank.
Sr. Member
Jun 26, 2010
695 posts
416 upvotes
Vancouver
anthonys92 wrote: I don’t get the negative feedback. Open the account, get the promos and close the accounts
I know! Other banks with similar promos don't have much debates or trashing about service or politics. It's about how to take advantage of the promo and GTFO.
Deal Addict
Feb 20, 2014
1225 posts
434 upvotes
Toronto
addicted2it wrote: I agree - opened the account and also took part in the payroll deposit / pre-authorised debit. Total promo amount of $650 so far. Have also referred an RFDer and hopefully will get another 100 from that referral.
Do both people get a credit with referral?
Deal Addict
Jul 30, 2005
1950 posts
87 upvotes
Jenuine wrote: Do both people get a credit with referral?
Yes - both the referrer and the referee get the credit.
Deal Fanatic
Apr 15, 2009
5267 posts
3177 upvotes
M-Arkham
vaporize wrote: given the situation they are in Hong Kong and association with China, I would not trust it's viability long term especially with the way US is going for the next few months.
HSBC in Canada is covered by CDIC so as long as your'e not dumping it into a mutual fund or investment account for stock or ETF, and it's not over $100k, you will get your money one way or another if they do fold

Despite some of the bad crap going on with them, under trained staff in branches (it's usually only 1 senior staff who knows everything while everybody else are headless chicken in each branch, some will make it up along the way n BS you, while the ones with more integrity will actually ask the senior staff), w/ the horrendeous website and mobile app, they're probably still the easiest to transfer money to Asia
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 )
[OP]
Sr. Member
Feb 28, 2014
527 posts
626 upvotes
anthonys92 wrote: I don’t get the negative feedback. Open the account, get the promos and close the accounts
Some of it is politics, some is bad experiences. Sure, I get HSBC isn't the best bank ever in terms of customer service, there's lots of room for improvement but honestly, I'm not surprised about the politics given it being a global bank.

Though one thing that has been rubbing me the wrong way is how slow their mobile app is and it's pretty barebones as it is.
Newbie
Jul 23, 2011
23 posts
41 upvotes
Calgary
Have a question. I see that I have to keep the account open for 12 months to get $300, but how long do I have to continue with the PAD and recurring payroll.
  • $50 for Set up at least two separate recurring pre-authorized transactions within 3 months.
  • $100 for Set up recurring payroll within 6 months.
Newbie
Jul 23, 2011
23 posts
41 upvotes
Calgary
oceanus2020 wrote: Have a question. I see that I have to keep the account open for 12 months to get $300, but how long do I have to continue with the PAD and recurring payroll.
  • $50 for Set up at least two separate recurring pre-authorized transactions within 3 months.
  • $100 for Set up recurring payroll within 6 months.
From https://www.hsbc.ca/content/dam/hsbc/ca ... fer-en.pdf
Receive at least one(1) payroll deposit within six (6) months of opening the Eligible Account ( Page 7, 4.a.ii)
For PAD the conditions are a little vague. ( Page 8, 5.b.i) . My take, you have to continue for 3 months.
Newbie
Oct 20, 2013
76 posts
13 upvotes
Toronto
oceanus2020 wrote: Have a question. I see that I have to keep the account open for 12 months to get $300, but how long do I have to continue with the PAD and recurring payroll.
  • $50 for Set up at least two separate recurring pre-authorized transactions within 3 months.
  • $100 for Set up recurring payroll within 6 months.
Where did you see you have to keep the account open for a year?

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