Tuesday, November 13, 2018

HSBC Welcome Offer (2018)

Deal Link: https://www.hsbc.ca/1/content/canada4/pdfs/personal/1043945-E_2018-08.pdf
Expiry: Nov 30, 2018

HSBC is offering up to $500 bonus to new clients who open a HSBC Chequing account by Nov 30, 2018. Please see the table above for the requirements. Online banking is required.

From my point of view, I think HSBC Advance account is a good option to choose. HSBC will waive the $25 / month HSBC Advance chequing account fee when you maintain personal deposits & investments of $5,000 or more with HSBC (or, you hold a personal mortgage with an original amount of $150,000 or more with HSBC). If you want to choose Premier account, you then need to deposit $25,000 within 1 month and maintain $100,000 or more with HSBC to avoid the monthly fee.

So, for the rest of my post, I will use HSBC Advance account as an example to show you how to get the HSBC welcome bonus. If you open a new HSBC Advance account and other steps before Nov 30, 2018, you can earn up to $600 bonus.

1) Open a new HSBC Advance account and High Rate Savings account at branch

2) Deposit $5000 and register HSBC online banking within 1 month ($300 cash back)

The good thing about HSBC is that you do NOT need to maintain the $5,000 in the chequing account like many other Canadian banks. You can put it in Saving account, GIC or other investment etc. Just FYI, you can get up to a 3.50% total interest rate on New Deposits of up to CAD 1 million to your HSBC High Rate Savings Account before November 15, 2018 (see details). After Nov 15, you may move the money to a HSBC 15-month TFSA GIC (2.5% interest).

3) When you set up a recurring payroll within 3 months of opening your account, you will earn $100 cash back. This step is NOT a must-do.

4) You can earn up to $100 in rewards when you are approved for a HSBC MasterCard. I choose the Advance MasterCard (Cash Back, no annual fee) and got $50 bonus. This step is NOT a must-do.

5) HSBC Share the Experience (Referral) Program. This step is NOT a must-do.
Deal Link: https://www.hsbc.ca/1/2/personal/special/hsbc-step-program

There is a $100 referral bonus for both the existing client as well as the new client being referred (totally $200), when a new Advance account is opened. BTW, if the new client opens a Premier account, than both people can get $350 bonus (this referral bonus is in additional to all the other welcome bonus above), which is quite generous. BTW, there is no expire date for this HSBC Referral Program.

If you want to open a new HSBC account and cannot find a friend or family member to refer you, we can provide you this referral form. Please provide the following information to us by email (canadianrewards@gmail.com), thanks:
  • First Name and Last Name
  • Your phone number
Then we will fill out a referral form and send you the pdf version of the form (normally within one business day).

After that, the new client need to make an appointment with HSBC branch, print the form, bring it with him/her to the branch and give it to the HSBC bank rep. Two pieces of government IDs are required.

So, after all these steps, a new HSBC client (Advance account) can earn up to $600 bonus.

Updated on Oct 23, 2018: HSBC just released an amazing welcome offer for the HSBC World Elite MasterCard (https://www.canadianrewards.net/2018/10/hsbc-world-elite-mastercard-75000.html). So, for the above step 4), you can ask the HSBC bank rep to use this new offer instead. And if you open the HSBC chequing account and the credit card together, HSBC will only do one Hard Pull.

BTW, If anyone wants to provide his/her HSBC referral below, please use the following format ONLY: "I can provide HSBC referral form and my email is: ***@***. Thanks." Other comments will be deleted. Thanks.