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

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
HRSA new deposit promo tier1 @4.40%, tier2 @4.90% (was 4.25% and 4.75%)
November 29, 2022
5:35 pm
savemoresaveoften
Member
Members
Forum Posts: 2943
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline
121sp_Permalink sp_Print

One time they said I have to book an appt and go in person to sign a signature card etc, some lame excuses that I have to sit down with someone.
I bluntly told them I opened my account online and I am not going in with or without Covid fear. If they insist, I will close my account since I can’t ‘meet, their requirement. The person backed off and I have not had any calls from them since this new round of promotion.

November 29, 2022
10:23 pm
HermanH
Member
Members
Forum Posts: 1204
Member Since:
April 14, 2021
sp_UserOfflineSmall Offline

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.

November 30, 2022
4:56 am
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline
123sp_Permalink sp_Print

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?

November 30, 2022
5:24 am
savemoresaveoften
Member
Members
Forum Posts: 2943
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

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.

November 30, 2022
10:58 am
mordko
Member
Members
Forum Posts: 889
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline
125sp_Permalink sp_Print

HSBC HISA promotion has been operating using the same time frame for a few years. Always starts in October and ends in January.

I opened HSBC account over 25 years ago. We have been fairly happy. So won’t be closing it at least until the sale goes through.

December 19, 2022
9:16 am
mustang
Member
Members
Forum Posts: 222
Member Since:
January 7, 2020
sp_UserOfflineSmall Offline

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?

December 19, 2022
6:46 pm
HermanH
Member
Members
Forum Posts: 1204
Member Since:
April 14, 2021
sp_UserOfflineSmall Offline

I just noticed that the interest rate for the HSRA rose from 1.40% to 1.55%
I doubt that the bonus rate remained the same. It likely fell the same amount to 3.35% so that the entire interest promo remained 4.90%

No way to know for certain, until the interest payment arrives mid-Jan

December 19, 2022
7:51 pm
UkrainianDude
Member
Members
Forum Posts: 71
Member Since:
November 19, 2022
sp_UserOfflineSmall Offline
128sp_Permalink sp_Print

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.

December 19, 2022
8:12 pm
mordko
Member
Members
Forum Posts: 889
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline

HermanH said
I just noticed that the interest rate for the HSRA rose from 1.40% to 1.55%
I doubt that the bonus rate remained the same. It likely fell the same amount to 3.35% so that the entire interest promo remained 4.90%

No way to know for certain, until the interest payment arrives mid-Jan  

The bonus rate is fixed at 3.5%. The way to “know for certain” is to read the terms. Its in black and white. Anyone with over $25K is getting 5.05% until Jan 27th.

December 20, 2022
8:41 am
COIN
Member
Members
Forum Posts: 1122
Member Since:
March 15, 2019
sp_UserOfflineSmall Offline
130sp_Permalink sp_Print

"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?

December 20, 2022
9:45 am
JohnnyCash
Member
Members
Forum Posts: 278
Member Since:
April 21, 2022
sp_UserOfflineSmall Offline
131sp_Permalink sp_Print

COIN said
"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?  

Full amount on deposit if the balance is $25K and over.

December 20, 2022
10:32 am
mustang
Member
Members
Forum Posts: 222
Member Since:
January 7, 2020
sp_UserOfflineSmall Offline
132sp_Permalink sp_Print

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?

December 20, 2022
2:13 pm
summerappletree
Newbie
Members
Forum Posts: 1
Member Since:
December 20, 2022
sp_UserOfflineSmall Offline

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

December 20, 2022
2:29 pm
mordko
Member
Members
Forum Posts: 889
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline
134sp_Permalink sp_Print

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.

December 20, 2022
3:01 pm
co
Member
Members
Forum Posts: 71
Member Since:
August 6, 2018
sp_UserOfflineSmall Offline

mordko said

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 think there is a high limit. It's written on the transfer page.

December 20, 2022
4:38 pm
JohnnyCash
Member
Members
Forum Posts: 278
Member Since:
April 21, 2022
sp_UserOfflineSmall Offline
December 20, 2022
6:56 pm
Lodown
Member
Members
Forum Posts: 233
Member Since:
January 10, 2017
sp_UserOfflineSmall Offline
137sp_Permalink sp_Print

JohnnyCash said
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  

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

December 20, 2022
7:14 pm
mordko
Member
Members
Forum Posts: 889
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline
138sp_Permalink sp_Print

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.

December 20, 2022
7:30 pm
COIN
Member
Members
Forum Posts: 1122
Member Since:
March 15, 2019
sp_UserOfflineSmall Offline
139sp_Permalink sp_Print

JohnnyCash said
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  

What does this mean in plain English? Does it mean one gets 3% from January 30th to April 5th?

December 20, 2022
7:42 pm
mordko
Member
Members
Forum Posts: 889
Member Since:
April 27, 2017
sp_UserOfflineSmall Offline

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.

Please write your comments in the forum.