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HSBC Everyday Global 2% Cashback on Eligible Purchases When You Tap and Pay under $100

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HSBC Everyday Global 2% Cashback on Eligible Purchases When You Tap and Pay under $100
Go to Deal
rocky7st on 30/07/2019 - 19:20 hsbc.com.au (4120 clicks)
Last edited 01/08/2019 - 10:46 by 3 other users

Terms & Conditions

From 1 August, when you deposit $2,000 or more into your Everyday Global Account each month you will unlock Everyday Extras6, including:
Earn 2% cashback7 on tap and pay under $100 - Earn up to $50 cashback each month on eligible purchases when you tap and pay with Visa payWave, Apple Pay or Google Pay under $100.

Bonus interest8 on savings - Earn 0.4% p.a. bonus interests on the ongoing variable rate for your savings in an HSBC Serious Saver Account. Applies after the 4 month introductory rate period and when you make no withdrawals during the month.

Financial Bank Account Cashback Transaction Account

Related Stores

HSBC
HSBC

closed Comments

  • neilpatrickharris on 30/07/2019 - 19:28

    Does this include apple pay?

    • ujwols on 30/07/2019 - 19:39

      yes

    • pennypacker on 30/07/2019 - 19:46
      +1

      The bottom of the linked page contains the Ts and Cs, and the answer is….

      …yes.

      The cashback offer…only applies on whole transactions (which means you can't make part payments for one transaction) under $100 AUD made from your HSBC Everyday Global Account where you tap to pay with Visa PayWave, Apple Pay and Google Pay

      • samehada on 30/07/2019 - 20:41
        +3

        How can they tell if it is part payment? I don't think it is enforceable.

        • scrypton on 30/07/2019 - 20:59
          +2

          I have a feeling that what they are trying to say here is that you cannot split one big transaction into smaller transactions and pay multiple times with this card for the purpose of claiming cashback for the full amount.

          I believe they would be able to enforce this since the transaction ID might be the same.

          However, if you pay the rest on other payment methods, this is probably harder to enforce — if it is possible to begin with.

          • samehada on 30/07/2019 - 23:44
            +7

            @scrypton: payment system doesn't work that way, transaction ID is unique for each payment on its own and has nothing to do with your purchase. This T&C is pretty much a fail safe way to give them a reason to deny cashback if they want to.

            • sharkfan12 on 31/07/2019 - 08:18
              -1

              @samehada: Yea I don't think they would be able to pick up split payments through the transaction. The only way would be to look for consecutive payments at the same store within a few minutes of each other

              • samehada on 31/07/2019 - 13:46
                +1

                @sharkfan12: That's exactly what ING did back then when they still have the cashback offer. Not sure if HSBC will go that far.

  • mr_asstight on 30/07/2019 - 19:28

    Infinitely?

    • Vortex99 on 30/07/2019 - 19:36
      +1

      Earn up to $50 cashback each month

    • abc on 30/07/2019 - 19:37

      It seems to be an ongoing offer. Wonder if the competition will respond?

    • ujwols on 30/07/2019 - 19:38

      Yeah, seems like it. $600 per year refund. Not bad

      • Bodhamilla on 30/07/2019 - 19:45
        +32

        It's worth being aware that you'd need to spend $2500 per month on tap and pay transactions to get the full $50 per month back. That's definitely not something I could manage. Especially since tap and pay transactions are capped at $100. 25 $100 taps in one month is extreme

        • oranje on 30/07/2019 - 20:07
          +24

          That said, 2% is a much more attainable return when compared to rewards points

        • ATangk on 30/07/2019 - 21:44
          +1

          Petrol, groceries, loads of small lots of shopping… maybe offering to shop for your friends? Tbh I just prefer shopback or something like that.

          10% off eBay gift cards and then shop eBay coles haha.

          • obavatar on 31/07/2019 - 12:02
            +1

            @ATangk: Hi ATangk, how do you get 10% off eBay gift cards? I can see an expired one here on Ozbargain. Thanks

            • ATangk on 14/08/2019 - 13:10

              @obavatar: Bought $1000 in GC from the previous deal to use until the next time the offer rolls around.

          • fritzsticker on 14/08/2019 - 10:29

            @ATangk: Yes curious as well how do you donthis??

            • ATangk on 14/08/2019 - 13:10
              +1

              @fritzsticker: When the 10% offers rolled around, I bought $1000 in GC. I don't spend that much but $900 to buy GC is better sitting in GC form than $900 in the bank getting almost nothing in interest.

      • [Deactivated] on 04/08/2019 - 19:44

        I guess they could cancel it at their discretion after some time.

  • Jonski on 30/07/2019 - 19:42
    +2

    Any catches for the 2%? Beside the $2000 deposit each month. Do you need to leave the 2k there or can you move it in and out.

    • fishball on 30/07/2019 - 19:48
      +10

      Max $100 per tap, AUD only and local processor.

      This 2% Cashback offer does not include:
      a) Business, commercial, government (including bus, ferry and train
      fares), foreign and non-fiat currency (such as Bitcoin);
      b) Travellers’ cheques, money orders or money transfers; and
      c) Debt payments, refund, reversal, gambling and HSBC
      transactions; and
      d) Transactions made at car parking and vending machines; and
      e) Car parking payment transactions; and
      f) Cash withdrawals and purchases made with a cash withdrawal
      (such as getting cash out at point-of-sale at a supermarket).

      PDS here: https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/account…

      • WhyAmICommenting on 30/07/2019 - 20:32
        -3

        Too many exceptions

      • RedSky on 30/07/2019 - 21:39
        +3

        Seems pretty reasonable. The vending machine one sounds like it's to prevent fraud.

        I imagine you could get around the transport exclusion by loading up e.g. Sydney Opal card at Woolworths.

        Question - Comparing 2% return to the best credit card rewards program out there - what's the comparable rough rate of return in flight points? - EDIT nevermind I tried to the math below.

      • nerdinary on 30/07/2019 - 23:06
        +2

        Hang on. Does not include business and commerical transactions? Isn't buying things from a business, i.e a coffee shop a business transaction?

        • NoDiggerty on 31/07/2019 - 00:20
          +2

          I think it means buying things for your business.
          Wboo knows how they police that though??

      • salc on 31/07/2019 - 08:10

        The PDS doesn't state that you have to leave the $2000 in the account for the offer to apply

  • ozb18 on 30/07/2019 - 19:45
    +2

    FYI, that's $2500 in tap and pay purchases per month to maximise the benefit.

    • putshan on 30/07/2019 - 23:13

      And all having to be under $100 so you need to make 25 individual purchases at the very least.

      Still, it's better than nothing.

  • DeafMutePretender on 30/07/2019 - 19:45
    +14

    You'll have to spend $2500 a month to get the full $50 back. Assuming you hit the max limit to trigger the cashback, you'll have to make 25 $100 transactions. If you invest the $2500 in a 2% savings account for 31 days, you'll get $4.25 so the $50 cashback is more of a $45.75 cashback.

    Better to think of this as "Get $1 or $2 off your next grocery trip"

    Edit: The cashback only happens on under $100 transactions so you'll have to make 26 transactions averaging $96.15 each to be safe.

    • Ghost47 on 30/07/2019 - 20:31

      Or, you could also lower your spending and save that difference. $2500 a month is a lot, maybe a parent with a couple of kids could spend that much in a month but as a single person my spending comes nowhere near that much even with rent. Definitely not worth it in my case.

    • ckria on 30/07/2019 - 22:05

      So does it mean that if you didn't reach the $2500 spend mark in a month, you don't get any cashback?

      • zozo4478 on 30/07/2019 - 22:28
        +3

        I think you still get your cashback if you spend less that $2.5k but more it’s capped to $50 a month.

    • macrocephalic on 30/07/2019 - 23:35
      +1

      Or, if you put that money onto a mortgage offset account then you're saving ~3.5% on it = which is ~$7.30.

      I'll continue to just load everything onto a credit card and get the FF points, they're only worth half as much, but the opportunity cost on the money makes it just as worthwhile.

    • INFIDEL on 01/08/2019 - 09:31

      Better to think of this as "Get $1 or $2 off your next grocery trip"

      Buying discount eGift Cards will give a better return for groceries (eg 5% or more off Woolies & Coles from different suppliers). Much simpler.

  • Thundaja on 30/07/2019 - 19:58
    +6

    I wouldn’t bother with the associated savings account. The interest rate after the introductory period is pretty bad.

    0.7% base rate.

    So 1.1% total, IF you deposit $2000 each month with NO withdrawals.

    • NoDiggerty on 30/07/2019 - 20:37

      I think the no withdrawals is from a linked account, the 'Serious Saver'account. This card is linked to the Global Everyday account.
      SS must be some kind of side, savings focused account.

      • zozo4478 on 06/08/2019 - 10:45

        I wouldn’t withdraw from Serious Saver! It doesn’t pay interest if you made one single withdrawal - Learnt it the HARD way! Ugh::

  • nfr on 30/07/2019 - 20:03

    This certainly beats spending with other debit cards, credit cards even, for sub $100 purchases.

  • povertytrap on 30/07/2019 - 20:14
    +16

    The catch is that you are dealing with HSBC. They are the worst bank I have ever encountered. Had to take them to ACCC to get them to pay out cashback due in a previous offer. Am upvoting because on paper it is a good deal but beware!

    • samfisher5986 on 30/07/2019 - 20:18

      Why wouldn't they pay out?

      • povertytrap on 30/07/2019 - 21:55

        Changed the terms of their promotion and tried to avoid paying out.

    • verio on 30/07/2019 - 20:33
      +2

      Oh yeah. Their mobile app for iOS is vintage! Looks like 2012.

      • ATangk on 30/07/2019 - 21:45
        +3

        Better than BOQ, no mobile app, dated web interface.

    • chumlee on 30/07/2019 - 20:48
      +3

      Agree. HSBC are frustrating to deal with and their tech is hopelessly outdated

      • Mibo on 03/08/2019 - 21:39

        Only outdated in Australia, just look at their app for Hong Kong, it looks miles better than the Australian app.

    • druex on 30/07/2019 - 22:41
      +4

      That and they've been caught laundering money for terrorists.

      • macrocephalic on 30/07/2019 - 23:36

        Apparently people don't care about that here.

        • stinkydog on 30/07/2019 - 23:50
          +5

          2 terrorists dislike the publicity

    • haemolysis on 30/07/2019 - 23:43
      +2

      Also I’ve noticed they have a web chat and they almost immediately try and refer you to a branch… before even bothering to dig into your case. Pointless!

  • Lancerx on 30/07/2019 - 20:17
    +1

    Would this cashback be better than Amex Platinum edge where you get 3 points per dollar spent at supermarkets?

    • samehada on 30/07/2019 - 20:46
      +2

      Depends on how you value points, let's take the standard 1c/airlines pts, 3 MR pts worth 1.5c which means 1.5%.

    • [Deactivated] on 30/07/2019 - 20:47
      +2

      Depends on how you use your points. The AMEX Platinum Edge allows you to redeem your points to pay your credit card balance at a rate of 1000 points = $5.00 (i.e. a 0.5% cashback). So for supermarket spend you're getting a 1.5% cashback with the AMEX PlatEdge vs. 2% with HSBC.

      If you're converting your AMEX points to frequent flyer miles and redeeming for premium cabins, you're likely getting better "value" for your points than a 1.5% or 2% cashback. YMMV.

      • RedSky on 30/07/2019 - 22:01
        -1

        Correct my quick calculation off google if I'm wrong, warning I'm slightly drunk:

        So on supermarket spend with KrisFlyer, anywhere between 2.4%-13.5% (typically 5.4%) wither upper end % value being for business class flights of course. Base return for non supermarket / petrol at 1$/point is 0.8%-4.5% (1.8% typical).

        So if you spend even a moderate portion on supermarket / petrol AND use your flight credit to offset your annual fee AND actually use your flight points, then you unlikely to get more value from this (2%) than AMEX, even for an economy flight.

        • [Deactivated] on 30/07/2019 - 22:20
          +2

          AMEX Platinum Edge transfers to KrisFlyer at a rate of 2:1 (it used to be 1:1 until April 2019).

          • RedSky on 30/07/2019 - 22:28

            @[Deactivated]: I think the value estimate from the site already captures this since they quote 1:1 conversion.

            • cwongtech on 30/07/2019 - 23:48

              @RedSky:

              I think the value estimate from the site already captures this since they quote 1:1 conversion

              I don't think the author is Australian… Looks to be an American churner so they could potentially not be aware of the devaluation here for Amex Australia

  • Trying2SaveABuck on 30/07/2019 - 20:17

    Where do i sign up there is no apply button?

  • musicbiz on 30/07/2019 - 20:25
    +9

    So it’s essentially the ING Orange Everyday before they took all the benefits away

    • Trying2SaveABuck on 30/07/2019 - 20:28
      +11

      I wish ING would being it back!

      • Trishool on 30/07/2019 - 21:12

        Same, but I doubt they will. It was more of a bait and switch tactic to attract customers. HSBC are going to do the same thing.

        • Trying2SaveABuck on 30/07/2019 - 21:13
          +3

          Yeah it lasted a few years though i probably saved 400-500 before they axed it - better in my pocket

        • AncientWisdom on 31/07/2019 - 22:14

          I reckon the barefoot investor has a lot to do with it, free publicity and they don't need to do a single thing to get/retain customers.

  • mrhorse on 30/07/2019 - 20:35
    +5

    Me Bank used to offer 5% cashback

  • DrLobster on 30/07/2019 - 20:36

    No Samsung pay

    • StuBalls on 31/07/2019 - 09:23
      +3

      just use Google Pay on your Samsungs.

  • dcep on 30/07/2019 - 21:28

    How much was ING again ?

    5% ?

    • [Deactivated] on 31/07/2019 - 08:16

      Thinking of firing up the time machine?

    • Caped Baldy on 31/07/2019 - 09:05

      5% then dropped down to 2%. I loved shopping at Aldi with it and their 1.5% card fee.

      • cwongtech on 31/07/2019 - 09:39

        0.5% fee, no?

        • Caped Baldy on 31/07/2019 - 09:41

          Oh, my bad. It's been years since I've used a card there.

          • watwatwat on 31/07/2019 - 09:49
            +1

            @Caped Baldy: All you need to do is put the card in or swipe it to avoid the fee. Only paypass has fee.

            • Caped Baldy on 31/07/2019 - 10:56

              @watwatwat: Wow, seriously? Good to know.

            • samehada on 31/07/2019 - 11:13
              +1

              @watwatwat: because inserting the card you can select SAV option which means EFTPOS network with low merchant fee. Paywave and Paypass is processed through the Visa/Mastercard network and the fee is same as credit card fee. That is the reason why bank is very keen to promote this.

              This is a big rip-off for merchant and RBA has warned banks to route these Visa/Master Debit transactions through a cheaper fee option like EFTPOS.
              https://www.rba.gov.au/payments-and-infrastructure/debit-car…

              As a normal buyer, not many people knows or even understand this concept, all they know is just that it's cool to tap the card and go if the merchant has no surcharge. In fact this cost will be built into the price and those using other payment methods are in fact subsidising it. That is also the initial reason why Australia allow credit card surcharge back in 2003 while many other countries didn't allow it.

            • LFO on 31/07/2019 - 21:42
              +1

              @watwatwat: Yes but then you will NOT get the cash back … neither this 2% nor the prev ING%
              Only Pay Wave gets cashback.

              OK if you don't care/interested.

            • INFIDEL on 01/08/2019 - 09:35
              +1

              @watwatwat: Use that for fee free transactions @Aldi with my debit card.

              But then there's no benefit from the bank when using the card! That's the basis of this & previous Deals.

  • flud on 30/07/2019 - 21:43
    +2

    Can you deposit the $2k and just transfer it out?

    • ATangk on 30/07/2019 - 21:46
      +4

      Yes.

      • flud on 30/07/2019 - 21:50

        Sweet. Thanks

  • [Deactivated] on 31/07/2019 - 05:36
    +2

    Why do they need so much information to open a bank account? I've been asked less questions applying for credit. No wonder they have to offer incentives like this to get customers.

    • JIMB0 on 25/08/2019 - 08:56

      It gets even worse when you set it up. Takes several confirmation emails/texts followed by several letters. Then you need to download the app and setup a different password to generate codes just to transfer your money out.

  • S7iCkSt3R on 31/07/2019 - 08:28
    +4

    Link to the product page
    For those who were wondering, like myself, $0 monthly charges

  • Ryk on 31/07/2019 - 08:59
    +1

    discounted egift cards from suncorp (and other places) are a better deal. 5% at coles and woolies, 7% at others, also rebel, jb hifi, etc…

    • cwongtech on 31/07/2019 - 09:40
      +6

      This is great for places without eGift cards (restaurants)

      • samehada on 31/07/2019 - 11:22

        This maybe a better option, Westfield gift card with no fee and it is EFTPOS gift card so no surcharge. Only available at selected Westfield so you need to call the ask them first.
        Just download the Whatsmine app (like Stocard app storing membership card barcode) and you get waived the Westfield giftcard fee of $2.95 once only. In Victoria WF Southland and Fountain Gate has this promo but Knox doesn't have it.
        https://www.westfield.com.au/burwood/news/2yko6iXoyDAFtVal7i…

    • pandadude on 31/07/2019 - 12:36

      Used to be able to paywave the $100 wish gift card with 5% off at RACW.

      However, they have remove the RACW Store at Westfield Carousel in WA.

  • coolsteps on 31/07/2019 - 10:01
    -7

    do you need to wait until tomorrow to open this account? are there any account keeping fees? if you do paywave for $100 dont you need to enter a pin and does this still qualify for 2% rebate? if i have a $300 purchase would i be able to split it into 3 lots of $100 pay using my card paywave $100 then google pay $100 then apple pay $100 would they detect this and disqualify the 2% rebate? maybe im best getting wife and mother to open an account too and store their cards on my phone. what about opening a joint account and using 2 cards would this count for a $200 split purchase>?

    • Australianjim on 31/07/2019 - 10:06
      +3

      That is a lot of questions. Some of which are already answered above.

    • samehada on 31/07/2019 - 10:09

      It needs to be $99.99 for each payment, $2500 per months in-store purchase is quite a lot anyway.

      • Neoika on 17/08/2019 - 11:26

        I just work out that every $99.75 spend should get you $2 back.

        $1.995 is supposedly rounded up to $2.

  • shoppe on 31/07/2019 - 13:47

    Can you withdraw the $2000 deposit?
    Yes, but you need to leave some money in the account or you won't be able to make any pay wave purchases.

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