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HSBC

Up to $700 when you start banking with HSBC

  • Last Updated:
  • Mar 2nd, 2019 5:10 pm
[OP]
Newbie
User avatar
Sep 14, 2015
49 posts
41 upvotes
Northern BC

[HSBC] Up to $700 when you start banking with HSBC

Deal Link:
Expiry:
September 30, 2018
Retailer:
HSBC
More offers from HSBC
This seems like a pretty good deal... (Edit: apparently it's not, move along)

Up to $500 when you make a minimum opening deposit ($1k for Performance accounts gets $100, $5k for Advance gets $300, $25k for Premier gets $500) and setup online banking
+$100 in rewards if you open their Mastercard
+$100 if you setup payroll deposits

Terms & Conditions

1Eligibility requirements apply. This offer applies to successful applications received during the campaign period.

2The minimum deposit and the HSBC Online banking registration must be completed within 1 month of account opening. The minimum deposit required will vary according to the opened HSBC Chequing Account: (i) HSBC Premier Chequing Account, minimum deposit required is $25,000 CAD; (ii) HSBC Advance Chequing Account, minimum deposit required is $5,000 CAD and; (iii) HSBC Performance Unlimited Chequing Account, the minimum deposit required is $1,000 CAD. (iv) HSBC Performance Limited Account, the minimum deposit required is $1,000 CAD.

To be eligible for the welcome bonus, you and any individual holding the opened HSBC Chequing Account with you must not have held, prior to the start of the offer period, an account or other product with HSBC. The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.

3HSBC Premier eligibility requires you to have an active HSBC Premier Chequing account, and maintain a $100,000 balance in combined personal deposits and investments with HSBC Bank Canada and its subsidiaries or reach a personal HSBC Bank Canada residential mortgage balances of $500,000 or greater. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above six months after account opening. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges/Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.

HSBC Advance requires you to have an active HSBC Advance Chequing account, and maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $25,000 or hold personal HSBC Bank Canada residential mortgage balances of $150,000 or greater. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above six months after account opening. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges/Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.

For full details regarding fees which may apply to Performance Chequing Unlimited or Performance Chequing Limited account, please refer to the Personal Service Charges / Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca/servicecharge.

4 For HSBC Mastercard accounts other than HSBC Advance Mastercard, HSBC Premier Mastercard and HSBC Premier World Elite Mastercard, each of the HSBC Personal Rewards Program and the HSBC Personal Cash Back Rewards Program is an optional service available for an annual fee of $35 per card issued on the account.

5 The Welcome Bonus is earned when you make the first transaction with your new HSBC Mastercard following enrolment. If you are a resident of Quebec, you can earn the Welcome Bonus by calling HSBC Mastercard Customer Care at the number listed on the back of your Card. The Welcome Bonus will be posted, redeemed or credited in accordance with the Terms and Conditions of the applicable HSBC Rewards Program or HSBC Cash Back Rewards Program. In particular, the cashback rebate will credited to your HSBC Mastercard account in January of the year following the year in which it is earned as long as your account is in good standing.

The Welcome Bonus will vary according to the opened HSBC Mastercard: (i) Premier World Elite® Mastercard is: 20,000 points; (ii) Premier Mastercard and (iii) Advance Mastercard is: 5,000 points or $50 cash back; (iv) HSBC Mastercard is: 5,000 points or $35 cash back.
Last edited by Shinkansen on Jun 21st, 2018 5:07 pm, edited 3 times in total.
40 replies
Deal Addict
User avatar
Jan 18, 2008
1537 posts
333 upvotes
Toronto
do you have expertise how much you need to pay per month for each account opened at the end of the road? someone please help..thank you.
[OP]
Newbie
User avatar
Sep 14, 2015
49 posts
41 upvotes
Northern BC
jurassic98 wrote: do you have expertise how much you need to pay per month for each account opened at the end of the road? someone please help..thank you.
Here are the terms for Performance Limited accounts, which is the lowest fee option:
Includes 14 free monthly transactions
No monthly fee for youth, students, seniors or Registered Disability Savings Plan (RDSP) beneficiaries
Low $4.00 monthly admin fee

If you maintain a $25,000 balance in an Advance account the $25/mo fee is waived. Personally, I think the Performance Limited is the best deal if you don't do a lot of debit transactions.
Deal Addict
Mar 13, 2012
1834 posts
1240 upvotes
Near You
Anyone know if you can probably stack the regular HSBC referral program on top of this offer?
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Newbie
May 3, 2018
36 posts
19 upvotes
if you are targeting 300 bonus, the minimum balance is 5000 and fee waived. BUT YOU NEED 25000 IN INVESTMENT. STUPID DEAL
Last edited by fwaangru on Jun 21st, 2018 1:25 pm, edited 1 time in total.
Jr. Member
Aug 4, 2014
150 posts
124 upvotes
Ottawa, ON
To be eligible for the welcome bonus, you and any individual holding the opened HSBC Chequing Account with you must not have held, prior to the start of the offer period, an account or other product with HSBC. The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.

So it looks like your welcome bonus is only going to be $100 if you opt for the performance accounts... Notice how it says up to $500. That $25k requirement to waive the high $25/mo fee on the next step up seems a bit too much for a $300 welcome bonus.
Jr. Member
Jul 5, 2010
132 posts
98 upvotes
Cold Deal. Minimum 25k deposit for $500. 5k deposit for 300 and 1k deposit for 100.

The minimum deposit and the HSBC Online banking registration must be completed within 1 month of account opening. The minimum deposit required will vary according to the opened HSBC Chequing Account: (i) HSBC Premier Chequing Account, minimum deposit required is $25,000 CAD; (ii) HSBC Advance Chequing Account, minimum deposit required is $5,000 CAD and; (iii) HSBC Performance Unlimited Chequing Account, the minimum deposit required is $1,000 CAD. (iv) HSBC Performance Limited Account, the minimum deposit required is $1,000 CAD.

To be eligible for the welcome bonus, you and any individual holding the opened HSBC Chequing Account with you must not have held, prior to the start of the offer period, an account or other product with HSBC. The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.
Sr. Member
User avatar
Dec 24, 2011
631 posts
1405 upvotes
East, Canada
Misleading title. For the Limited account you will only receive a $100 welcome bonus. Here is the breakdown:
“The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.“
The middle option is the most similar to the $300 value offer currently available from many other banks including TD and RBC (iPad).
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[OP]
Newbie
User avatar
Sep 14, 2015
49 posts
41 upvotes
Northern BC
What seemed attractive to me about this deal is there isn't a pre-authorized debit or payroll deposit requirement to get the account bonus, which means this could work out for some people where the other bank offers won't. If you can do payroll deposits, there's an additional $100 in it.
Newbie
May 3, 2018
36 posts
19 upvotes
RaiderX wrote: Misleading title. For the Limited account you will only receive a $100 welcome bonus. Here is the breakdown:
The middle option is the most similar to the $300 value offer currently available from many other banks including TD and RBC (iPad).
No, its not similar. There are further eligibility criteria for having advance and premier account and those criteria are absurd.
Jr. Member
Dec 5, 2016
143 posts
185 upvotes
Just move 25k TFSA investment into HSBC for the bonus? Isn't this way better than having to maintain a 5k balance in your chequing account to waive the fees?
[OP]
Newbie
User avatar
Sep 14, 2015
49 posts
41 upvotes
Northern BC
You get 6 months fee-free ("A monthly fee will be charged if you do not meet at least one of the eligibility criteria above six months after account opening"), and I'm not seeing anything that would prevent you from closing/changing the account at that point and keeping the bonus.
Member
Jun 18, 2011
355 posts
261 upvotes
TORONTO
Same deal as last year. A mortgage over $500k qualified and you didn’t need to maintain a minimum account balance. Easy $500!
Member
Mar 12, 2015
277 posts
256 upvotes
North York, ON
Glancealot wrote: how is this deal cold?

$500 return on 25k is 2%, which is an amazing 3-month (or 6-month) guaranteed return (assuming you leave after 3 or 6 months). on top of that, you get everything on this page

http://www.hsbc.ca/1/2/personal/banking ... r/benefits
Based on the disclosure statement, you'll need to have either a HSBC Mortgage of $500K+ or deposits of $100K+ to waive the $34.95 monthly fee. Hence to get the $500 return without any dings, you'll need to deposit $100K and not $25K.
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Feb 16, 2005
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Deal Addict
Jun 6, 2013
3482 posts
4145 upvotes
traxton wrote: Based on the disclosure statement, you'll need to have either a HSBC Mortgage of $500K+ or deposits of $100K+ to waive the $34.95 monthly fee. Hence to get the $500 return without any dings, you'll need to deposit $100K and not $25K.
i see. thanks for clarifying!
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Deal Fanatic
Aug 5, 2006
8847 posts
5843 upvotes
Global Village
So you need to keep $25K in the Advance to avoid monthly fees and get the $300 and you need to keep the account open for a year. No thanks, you can just lock the $25K in a 1 year EQ GIC and get back $690.
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Member
Aug 14, 2012
411 posts
392 upvotes
North Vancouver
scoper wrote: So you need to keep $25K in the Advance to avoid monthly fees and get the $300 and you need to keep the account open for a year. No thanks, you can just lock the $25K in a 1 year EQ GIC and get back $690.
Where do you see this?

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