HSBC High Interest Savings Bonus Rate of up to 6.35% till January 12, 2024 | Page 2 | HSBC | Discussion forum

HermanH said
I have not had any problem moving large amounts to or from HSBC.  

How? TIA

To link to Tangerine, be sure to use the numbers from the HSBC void blank cheque.
https://www.highinterestsavings.ca/forum/hsbc/hrsa-new-deposit-promo-tier1-4-25-tier2-4-75/page-6/#p80186

Thank you nice people!

You can Interac e-transfer into HSBC for small amounts.

Goldtooth said
Can you move money to HSBC by writing a check from your other bank?  

Why not, they have an app, ATM's, branches, etc.

ponyFlower said
Today, I registered for a savings account and was all set to transfer funds to HSBC. However, I had some additional inquiries, so I decided to reach out to HSBC's customer service. I was particularly interested in whether it was possible to view the promotional interest rate on the dashboard, but I was informed that this was not an option. I also inquired about the possibility of linking bank accounts, only to discover that such functionality wasn't available.

Additionally, I sought information on the process for transferring a substantial sum, such as 100k, from my HSBC savings account to another Canadian bank account. Unfortunately, the response I received was quite ambiguous, with the focus being on bill payments and transfer fees associated with debit card usage.

Ultimately, I learned that the sole method for transferring more than 10k per week involved wire transfers, incurring a cost of at least 60 CAD per transfer. The only fee-free method for transferring funds out is through the use of Interac, with daily and weekly limits set at 7k and 10k, respectively.

Faced with these limitations, I ultimately decided to close my account once again.

You can find the complete list of transferring out fees in the PDF document on page 13 of 21 at this URL:

https://www.hsbc.ca/content/dam/hsbc/ca/global/hsbc-personal-service-charges-statement-of-disclosure-en.pdf  

I tend to transfer large amounts by writing a cheque to myself. Cheques come free with a Premier chequing account.

Bear in mind RBC's acquisition of HSBC Canada's assets is likely to conclude between November 1, 2023, and January 31, 2024, so it's quite possible they may terminate this offer early, as the T&C of the offer allow them to do.

One of these days the Europeans and others are going to regret their foolishness. Computers are eminently disruptible, and have proven it many times. We probably ain't seen nothin' yet.

I happily keep print copies of all statements and any other documents I may have further need for, and I maintain chequing accounts wherever possible, preferably free ones.

In my view, "backing things up" doesn't just mean another computer (although that's a good idea); it means an extra medium.

That aside, i have noticed a trend recently towards making it increasingly difficult to transfer large amounts from/to accounts, all in the name of "security".
Yesterday spouse made an old-fashioned trip to DUCA branch, using own two feet, to deposit a cheque. It was comforting to see that it still exists in 3 dimensions, with staff and customers. The cheque went directly into the 6.25% account, and they even provided a receipt. No fiddling with an app, no waiting on the phone etc. Quick and easy. The fresh air was free.

mordko said

I tend to transfer large amounts by writing a cheque to myself. Cheques come free with a Premier chequing account.  

Is there a check amount limit? Also, wouldn't you be able to link your Tangerine account initiated through Tangerine, and then pull the money into your Tangerine account?

The Rock said

Is there a check amount limit? Also, wouldn't you be able to link your Tangerine account initiated through Tangerine, and then pull the money into your Tangerine account?  

Yes, you can pull from Tangerine. I do. Mobile cheque deposits do have a limit. $100K. But you can use several.