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Get $50 for Opening a Transaction Account with HSBC (No Monthly Fees, New Customers Only)

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Get $50 for Opening a Transaction Account with HSBC (No Monthly Fees, New Customers Only)
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buzzed on 12/06/2014 - 17:44 files.ozbargain.com.au (2578 clicks)
Last edited 13/06/2014 - 00:12 by 2 other users

I was in a HSBC branch today, and noticed this flyer.

Open a day to day transaction account with HSBC from Monday 16th June to Tuesday 30th September 2014, make a Visa Debit card purchase within one month of account opening, and you will receive a $50 cash deposit into your account.

This is for new accounts only, and all existing day to day account holders are excluded from the offer. (ie, opening a second account won't make you eligible). If you have other products with HSBC, you should have no problem qualifying for this offer.

From speaking with the branch assistant at HSBC, if you are eligible for the offer, the $50 will be deposited into your account the following month, in the next interest cycle.

This account has no monthly fees, fee free deposits at Bank@Post, and fee free withdrawals at all Westpac, Bank of Melbourne, St George, BankSA and HSBC ATMs.

As always, check whether this product is right for you and your financial objectives before applying.

Financial Bank Account Transaction Account

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  • AFA on 12/06/2014 - 18:10
    +10

    fiddy bucks

  • verio on 12/06/2014 - 18:15
    +10

    Good deal, but I have to say that my previous experience with opening new account at HSBC was full of pain.

    • T-man on 12/06/2014 - 20:52
      +3

      exactly! I experienced the same

  • ltwo on 12/06/2014 - 18:16

    Applies to online applications as well?

    • Graffin on 12/06/2014 - 20:31

      Good question… I can't seem to find any mention of the $50 offer online. I might give em a call and ask first.

  • alittlelewd on 12/06/2014 - 18:17
    +1

    HSBC: Protecting the money of Mexican Cartels and stopping you from withdrawing your own money without a valid excuse.

    These guys are rotten and you are better off with ANY other financial institution.

    http://www.bloomberg.com/news/2013-07-02/hsbc-judge-approves…
    http://www.mirror.co.uk/news/uk-news/hsbc-under-fire-after-s…

    Seriously you are better off putting your money into a piggy bank and considering yourself lucky that while you didn't get $50 that one time, that you don't belong to a bank intent on screwing its customers, the world financial markets and humanity in general.

    • nailsforlunch on 12/06/2014 - 18:34
      +6
      1. Open account
      2. Deposit $10
      3. Buy a packet of tic tacs at coles
      4. Wait for $50 deposit
      5. Withdraw $58 from your account
      6. Close account

      Then you don't belong to a bank and you're fiddy bucks richer.

      • Pandabargain on 12/06/2014 - 18:40
        +5

        Tic tacs? Go to petrol station empty 0.02$ worth of petrol onto ground. Pay at pump

        • masadav on 12/06/2014 - 18:45
          +7

          I've noticed that most pumps state minimum fuel delivery of 2L.

        • ElWircho on 12/06/2014 - 19:31
          +23

          A true Ozbargainer would never waste 2 cents of good petrol, he refills his Zippo with it.

        • [Deactivated] on 12/06/2014 - 19:33
          +25

          Thanks for the clarification, I was seriously considering going to the petrol station and pouring 2 cents of petrol on the ground. Now I know, I need to pour 2L on the ground. Wait why are we doing this again?

        • Daabido on 12/06/2014 - 19:38
          +8

          In that case, best not to empty 2 l of petrol onto the ground. I don't think they take debit cards for bail payments.

        • [Deactivated] on 12/06/2014 - 22:57
          -3

          To get rid of Tony Abbott of course. (Gotta match?)

      • tooblue on 12/06/2014 - 20:40
        +35
        1. Open account
        2. Deposit $10
        3. Buy a packet of tic tacs at coles
        4. Wait for $50 deposit
        5. Return tic tac to Coles
        6. Withdraw $58 $60 from your account
        7. Close account
        • larscliff on 12/06/2014 - 20:47
          +2

          Much better option!

        • [Deactivated] on 12/06/2014 - 22:59
          -1

          Or you could pretend you're one of the chosen few who can actually still afford to buy meat.

        • nailsforlunch on 12/06/2014 - 23:05
          +4

          I might as well hand in my Ozbargain card right now :( I'm ashamed of myself.

  • alive3 on 12/06/2014 - 18:18
    +8

    Just spoke with them on the phone as there was nothing on their website about this. I was told that the promotion starts NEXT Monday.

  • shortgum on 12/06/2014 - 18:25

    HSBC is very good catching fine prints. NEW CUSTOMER ONLY mean previous held account customers will never again eligible.

    very different to ING DIRECT bonuses

    • MelbournianBoy on 12/06/2014 - 18:35
      +3

      How is that different? Can I close my account and open another one when ING has another bonus?

      • shortgum on 12/06/2014 - 19:18
        +5

        just head up. who ever have an account before very unlikely will get bonus. very hard yard dealing with HSBC for bonus and promotions.

        back in the days $120 feebate for $10 month. got reject on offers coz I got a day to day account a year before and classify as existing customer

        HSBC credit card bonus $50 got rejected coz not using the card as in the promotion. long story to write… so

  • c64 on 12/06/2014 - 18:48
    +2

    i don't know if things have changed from a year or two ago, but i gave up trying to open a hsbc account online because it was such a pita and just went to a branch.

    • [Deactivated] on 12/06/2014 - 19:35
      +8

      it was such a pita and just went to a brunch

  • DEvok on 12/06/2014 - 18:56
    -2

    i opened one of those accounts which don't a card and my account has not been actived properly I think. Can I still get the $50 from the promotion?

    • larscliff on 12/06/2014 - 19:07
      +4

      I think, better call HSBC for asking so particular question

  • gimli on 12/06/2014 - 19:13
    -2

    Quack. Moo. Oink
    That's what the donkey said.

    Yay free 50

  • oldmate78 on 12/06/2014 - 19:13

    Just made an account, seemed easy enough. No ID verification - said my card will arrive in 5-7 working days?

    • [Deactivated] on 12/06/2014 - 19:37
      +10

      Dude, you missed the comment above. Promotion starts NEXT Monday

      • oldmate78 on 12/06/2014 - 20:07
        +2

        I called aswell and they told me it's definitely valid if I apply now. Forgot to mention that my bad lol

  • [Deactivated] on 12/06/2014 - 20:15
    +30

    As always, check whether this product is right for you and your financial objectives before applying.

    My financial objective is to get $50

  • Slippery Otter on 12/06/2014 - 20:21

    I know it states that you can still get the bonus if you have other HSBC products. I have a credit card with HSBC. Can I still get the $50?

    • regis on 12/06/2014 - 23:21

      Are you happy with their CC?

      • Slippery Otter on 13/06/2014 - 12:39

        I haven't used it other than a balance transfer. Why? Because 28 degrees internet banking is far better. Once the balance transfer is finished, I'll just cut up the HSBC CC.

  • banzini on 12/06/2014 - 20:34

    is it worth giving your details up to another org for $50 and then put up with the $hit in the mail forever?

    • larscliff on 12/06/2014 - 20:44
      +13

      I've never contacted to some pizzerias, kebabs, cleaners, politicians, etc. But I have a lot of $hit in the mail from them. And they didn't give me even $1.
      So answer is abso-bloody-lutely yes!

  • chill on 12/06/2014 - 20:50
    +1

    Wow this brings back memories.

    This used to be the account to have (before the RBA or ACCC?) screwed the system.

    You were able to use any ATM fee free. And before anyone mentions ING, you didn't have to take out $200.

    Crap bank though. They would always say my signature didn't match what they had on file. I mean who even checks that sort of stuff?

  • T-man on 12/06/2014 - 20:55

    This deal is much better: https://www.ozbargain.com.au/node/145879

  • abc on 12/06/2014 - 21:33

    Anyone know how hard it is to close the account? Do you need to visit a branch or can just call?

    • me786 on 12/06/2014 - 21:50

      Need to visit a branch.

      • microsnot on 12/06/2014 - 22:23
        +1

        You can mail them. Seriously, everything is just a PITA at HSBC. Great in HK or London but the Aussie side of the business isn't very good.

  • Azn310 on 12/06/2014 - 22:27
    -3

    Just in time for the World Cup

    • shortgum on 12/06/2014 - 23:02

      ? how is this do with world cup?

      • Azn310 on 13/06/2014 - 05:49
        +1

        U put $50 in Brazil, next morning it will be $75, put that in Chile, it becomes $100 and so on.. World Cup is black magic

        • tooblue on 13/06/2014 - 09:11

          Not Socceroos?

      • T-man on 13/06/2014 - 09:21

        He may put $50 to TAB, i guess

        • shortgum on 14/06/2014 - 22:41

          betfair or get in early with bet365 have the best odds for world cup

  • homersyd on 12/06/2014 - 23:31

    I heard by keep applying accounts like these then cancelling, it affects your credit rating is this true or BS?

    • shortgum on 12/06/2014 - 23:59

      credit card will not savings account

  • mar79 on 13/06/2014 - 00:15

    I've been with HSBC for over 10 years (swanston st branch). Big thumbs up from me based on my experience. Tip: You can use westpac ATMs for no withdrawl fees.

  • tankcat on 13/06/2014 - 01:09

    So what you are saying is that ,we get free $50 and we can close the account after.

    Why would they just give out free money?

    • rockman117 on 13/06/2014 - 08:45

      It's a promotion encouraging people to join their bank with the hope that customers won't cancel.

  • nahi11 on 13/06/2014 - 10:01

    so is there a link to the promotion?

  • Bill48 on 13/06/2014 - 12:10

    Which is it of these two banks (HSBC or ING) that ozbargainers have been saying has the cheapest international money transfers?
    I expect to be based in Britain/Europe for quite a while from next year and will want to open a local bank account. I am thinking that establishing a connection here with a bank like HSBC may do me no harm.

    • eggnbacon on 13/06/2014 - 12:44
      +2

      I believe Citibank Plus does international transfers for free.

      ING goes through a third party, Ozforex, so there's a fee there.

      HSBC, no idea.

    • jm48 on 13/06/2014 - 13:06

      "Which is it of these two banks (HSBC or ING)"
      Neither, I think it is Citibank plus, and also 28 degrees credit card.
      Search for them on this site and there is plenty of info.
      Such as:
      https://www.ozbargain.com.au/node/93772

      Edit: didn't see above reply when answering

      • Bill48 on 13/06/2014 - 13:12

        Thanks. My bad memory.

    • chiefbodge on 13/06/2014 - 15:17

      Depending on the amount you will be transferring my advice would be to use ozforex - their exchange rates tend to be about 3% better than the major banks.

  • Jabei on 13/06/2014 - 12:34

    Years ago, a Chinese friend of mine went to Swanston Street Branch to open a day to day transaction account. The manager asked him to show his Chinese national ID card, even my friend has passport, NAB bank statement (showing his residential address) and NAB ATM card. The manager told my friend that as you were from China, you have to show us additional ID document. But actually, Chinese national ID card is only valid within China.

    • FutureTech on 22/06/2014 - 21:49

      That's ridiculous! Your friend should have made a complaint about the manager deliberately making things difficult for the customer.

      • lxr on 19/08/2014 - 17:07

        My friend got same issue. He's international from China. Staff ask him show Chinese national ID card or Chinese Driver license.

  • peterpeterpumpkin on 13/06/2014 - 13:26

    No POLI unfortunately - like Citibank. I wish one of the major local banks (with branches) and POLI was fee-free.

    • peterpeterpumpkin on 17/06/2014 - 18:40

      Thanks to another thread I found out NAB is now fee-free.

  • ethereal88 on 13/06/2014 - 17:15
    -2

    OP can't read. You can open an account UNTIL the 30/09/2014, there is no start date. Look at the flyer … "Offer available until".

    • buzzed on 13/06/2014 - 17:56
      +1

      Yeah, I didn't write that. Somebody else edited it, and I agree with you. I opened an account recently and was told upon questioning that I would be eligible for the offer.

  • twodollah on 13/06/2014 - 23:21

    Did anyone else apply and at the end was told to fill in a form and go into a branch to confirm identity?

    • PissLUR on 13/06/2014 - 23:54

      It depends on your nationality and your source of ID.

    • chiefbodge on 16/06/2014 - 01:25

      Yes. Not sure if I can be bothered. I entered by South Australian drivers licence and TFN and am an Australian. I am also already a HSBC credit card customer so I am very surprised that I got asked when others haven't been.

  • JordanM on 13/06/2014 - 23:38
    +4

    Worth noting the website now advertises the offer and it has started (https://www.hsbc.com.au/1/2/personal/savings/online-account)

    Just applied online and account was instantly activated.

    • dins on 14/06/2014 - 10:24

      Cheers mate :)

  • PissLUR on 13/06/2014 - 23:53
    +1

    Applied and approved online.
    Thanks OP.

  • dins on 14/06/2014 - 10:23
    +1

    Thanks OP :)

  • [Deactivated] on 14/06/2014 - 19:06
    +1

    Thanks OP, with the link on the website seems like it's good to go

  • CVonC on 15/06/2014 - 01:20
    +1

    You’re only 2 easy steps away from completing your application so we can set up your new HSBC account.

    Step 1 - Provide your signature and identification

    Step 2 - Submit your completed forms

    Australian + Australian drivers licence not enough? -_-

    • chiefbodge on 15/06/2014 - 02:57

      The most annoying part is you need to get a JP or other trustworthy people to witness it. PITA really. Why oh why did they not pay australia post for verification like ING does (the answer is probably because they are stingey) - postal worker is on the list but I am pretty sure you have to pay australia post for identification.

      • Franconian on 16/06/2014 - 11:18

        Police station is a hassle free way to verify documents…

        • tooblue on 18/06/2014 - 13:47

          Once cops know who I am, they will never let me go.

        • nahi11 on 20/06/2014 - 19:31

          Yeah,, this is a major pain.

          Opened the account, but not going to continue and verify it.

  • miarn on 15/06/2014 - 10:37
    +1

    Just applied, account opened immediately. Debit card is on its way.

    Thanks OP!

  • CanadianBeaver on 15/06/2014 - 16:34
    -1

    how are their interest rates compared to westpac?

  • Fobsessive on 17/06/2014 - 15:06
    +1

    Here's a link to the promotion on HSBC's website http://www.hsbc.com.au/1/2/personal/savings/online-account?W…

  • RRP on 17/06/2014 - 23:02

    Thanks OP! Can't wait to get my $50.

  • NeoM on 19/06/2014 - 11:02

    Applied! But have to mail HSBC my ID documents, no branches in Tas

    Sort of ironic that it's slogan is "The world's local bank"

  • Slippery Otter on 19/06/2014 - 12:47

    Got my debit card and activated, now need to go to post office to deposit some money then spend it:)

  • PissLUR on 21/06/2014 - 19:04

    Used the card. Now is waiting time for the bonus money.

  • peterpeterpumpkin on 24/06/2014 - 13:10
    +1

    I don't understand how/why some banks can verify on-line while others (e.g. NAB) require physical demonstration of ID to "comply with anti-fraud legislation'.

    I suppose with HSBC you can order a card in a flat-mate's name that's away on a month's holiday and slowly assume their identity as you learn to mimic their beard growth patterns and walking gait while secretly laundering millions of dollars from narcotics, prostitution and ammunitions. Or you can just keep the $50.

  • freemoneyhunter on 01/07/2014 - 23:16

    Why can't they just give us the money without us having to jump through all the hoops, if it wasn't for that I would sign up for sure and get my $50.

  • rmk on 05/07/2014 - 16:01

    got the $50 … woo!

    • oldmate78 on 09/07/2014 - 18:20

      moved to new post

  • T-man on 07/07/2014 - 09:56

    I got $50 today, and going to close my account today too.

  • oak on 07/07/2014 - 11:57
    +4

    I got my $50 too - and now transferred out.

    I'll have no moral issue closing this account at all - net banking is clunky, the requirement for a security device for log in and transfers is a pain. And the signup process was difficult as well.

    I tried the account, definitely do not like.

    • T-man on 07/07/2014 - 14:19

      yup, too much security, I spent half an hour to figure out how to use the security device.

    • fleetoiler on 08/07/2014 - 12:39

      Same - wow it took me 3 goes to transfer money out, accidentally middle-clicked (open-in-new-tab) a link and it locked me out of internet banking lol, lost all my transfer details and had to start again.

      Anyone who wants to transfer your money out and close the account - make sure you have got your security device validated and working and have already used it, you'll need to log in with it instead of the passwords option.

      On that note - how exactly do you close the account? Is there a link in InterBanking or do you call them up or have to visit a branch? And do we need to return or pay for the security device? What a waste lol.

      • T-man on 08/07/2014 - 13:30

        I had to visit their branch, just asked them to close my bank, not signing any paper. Make sure your account balance is NIL. The security device is so ancient and inconvenient as I am using Google Authenticator on my mobile for most of my online accounts including email, dropbox and others which require Two-factor authentication.

  • AKY on 09/07/2014 - 08:20

    Any minimum spending?

    • miarn on 09/07/2014 - 09:01

      You just have to make a transaction on the Visa Debit card:

      For a limited time receive a $50 bonus* when you apply for a new HSBC Day to Day Account by 30 September 2014 and make a purchase# with your linked VISA Debit Card within the first month of account opening.

      Note that:

      VISA debit card purchase excludes ATM cash withdrawals, fees, charges and other interest payments.

      I rented a Hoyts Kiosk movie for $1 and got my $50 over the weekend.

      • AKY on 09/07/2014 - 10:38

        Thank you for clarifying, it's a very good deal. I'm going to tell my sons to open the account.

  • oldmate78 on 09/07/2014 - 18:21

    To those that have got their $50 - when did you register / make the purchase? Still waiting on my $50 :(

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