HRSA new deposit promo tier1 @4.40%, tier2 @4.90% (was 4.25% and 4.75%) | Page 7 | HSBC | Discussion forum

They tried a similar stunt with me.

I was previously a high-balance Premier member. After closing the account in 2021, I re-opened a new HISA for this promo. They tried to get me back with the same Premier-level account, but I flatly refused. When I withdraw funds after the promotion and drop below the $100K required min. balance, I will immediately be charged account fees. So, I demanded the basic savings account and repeatedly refused any 'upgrade'. I, also, said that they could close my account if they could not provide me with a basic savings account.

When I, once again, close my HSBC accounts after the promo period, this time, I will make absolutely certain that my electronic presence is wiped, too. Last time, they kept my number alive and I could log back onto the system. My continued e-presence meant that I continued exposure to compromise. So, on Feb 1, I will make sure that I watch them delete my e-number profile.

InterestThis said
Thanks, so its just part of their upselling business sales model, perhaps the sales people are on commissions?
When I went in, they were trying to get me to get a chequing account, quite pushy really.
So after this promo, are people going to close this account, or just leave it open in case there is another promo?  

I will keep my account open but doubt any new rates promotion with the announcement yesterday. I cant imagine them initiate any new promotion / initiative after this one ends in Jan.

Yes very pushy for sure. I do understand the branch people has tough quotas to meet to justify their existence. But lying to me wont earn my business for sure.

InterestThis said

Yep first 3 digits are part of the transit number. No one at HSBC seemed to know that, the HSBC agent even said they do not accept EFT, and did not know what an EFT was as they were not in Canada.
I think the micro-deposits work as they go through a more general first-contact from bank to bank. But since using the cheque info it worked normally.  

Just had a similar experience, linking from Tangerine to HSBC. The mini-deposits went through fine, but my first transfer was reversed. I was going to double check the account number that I had entered-- but it seems Tangerine just went ahead and zapped my link, so I can't actually see what was there
However, I'm sure it was the 12 digit number. I am sure because I had previously been successful setting up a link from B2BBANK-- and I had just copied the number used there-- which is the 12 digit number. So, I guess, sometimes it works
and sometimes it doesn't
Were others ultimately successfully, using 9 digit number from Tangerine?

mustang said
Were others ultimately successfully, using 9 digit number from Tangerine?  

I had no problem linking my account, just you the account number from HSBC void cheque.
I already moved money, no problem. It shows as PAD on HSBC side.
I also successfully linked Motive financial and Wealth one with HSBC and pulled some money to test.

"Anyone with over $25K is getting 5.05% until Jan 27th."

Is it 5.05% on the full balance and not just the excess above $25K?

UkrainianDude said

I had no problem linking my account, just you the account number from HSBC void cheque.
I already moved money, no problem. It shows as PAD on HSBC side.
I also successfully linked Motive financial and Wealth one with HSBC and pulled some money to test.  

Many thanks for the confirmation. Actually, I had lost some of my ardor for moving the money into HSBC, when we got the latest Simplii offer. But, I guess now HSBC is back on top?

summerappletree said
Is there a limit on the amount transfer from hisa to chequing via online banking per transaction& per day? Thanks  

Don’t believe so.

I did not receive this offer but thought some of you would have fun wrapping your heads around it:

https://www.hsbc.ca/content/dam/hsbc/ca/docs/pdf/offers/extended_bonus_promotion_jan_30_to_apr_5_2023_tc_en.pdf?cid=EML_CA_EN_44231.EML-1.CA-EML-00920_0&eid=EML_CA_EN_44231.EML-1.CA-EML-00920_0

Lodown said

Really? Why so complicated for about 2 months for maybe an extra 3%...must be taking lessons from Simplii. I say forgetaboutit!!  

Its very simple for anyone using the current offer, which was due to end on Jan 27th. Means “do nothing”. Not intended for bringing in new money.

It means that one gets normal (variable) rate plus 3%. Currently the variable rate is 1.55% if you have over 25K. So the total would be 4.55%. And it's on the money in the HISA account as of January 27th. Won’t apply to new money. And only if you got the email.