In addition to the 2% cashback deal HSBC are now offering $100 bonus for new accounts after some hoop jumping.
The AUD100 bonus paid in AUD to new HSBC customers (Not held an account in last 6 months) who open an HSBC Everyday Global Account before 31/07/20 and deposit AUD2,000 or more per month for three consecutive months within 6 months of opening the account.
$2000 is to the global everyday account not the flexi saver account, am i right?
hi all,
do i need to deposit $2000 a month to unlock the 2% cashback?
Yes. An email will be sent to you after your deposit, to say that you are eligible for this.
Do you get the email every month? I deposited the $2000 last month and got it, did it this month, no email but I removed it quite quickly after. Does it have to be left there a certain time?
You probably won't because you are still eligible for the cashback - the $2K deposit from last month gave you 2% cashback for this month as well. See my comment.
I also have not gotten an email for this month - I deposited yesterday. And there are no stated conditions requiring the 2K to be left there.
@bluesky: thanks for the tips, is it ok to transfer the money in and out at the same day?
I mean, if i transfer to hsbc in the morning from other bank say NAB, and the money hit in hsbc in the afternoon at 2pm, then i transfer 2000 back to Nab, does this work?
@bluesky: thanks, it does not have to be same account name for transfer, right? for example, i transfer $2000 to my partner.
Apparently there are no conditions about how long it must be left, but I am hoping that is true for sure. I transferred late at night, it was there about 11am and I transferred out, it was back in the account with ING later that night. You have to be careful with HSBC as they have multiple passwords so make sure you remember them all before transferring too. I think will be closing as soon as this promo is over, too complicated and websites slow and glitchy too.
Apparently there are no conditions about how long it must be left, but I am hoping that is true for sure
Can't find anywhere that says otherwise, so should be fine. I do leave some funds there, to use the card for 2% cashback.
Hai HSBC - I’ve deposited/withdrawn $2K for 3 consecutive months to my accounts. Please credit them $100 so I can promptly close them, and the door on my way out. Thank you!
Pleased to report I‘ve just been credited the $100.
The torture of using the HSBC app finally seems worth it.
I completed the third deposit as well but have no bonus credited yet.
Still nothing. The torture will continue for a while trying to get the $100 from them.
I just received the $100, very quick. I will probably stick with them for as long as the 2% cashback lasts even though I still think their mobile app is atrocious
2% cashback is worthwhile. I'll hang around, although I need to find a way to set up a joint account for wife+myself (of course we started off with an account each, $100 each landed today). Can't do that online which is a pain.
Additional card holder = joint account
HSBC App > Apply > Credit Cards > Already an existing HSBC credit card holder? > Express Apply
It's not a credit card account.
Likewise the same here. I just deposited my 2K today and can see straightaway on my app that there is a system generated entry of MFI bonus $100.
How long does it take for the $100 to be received after the last $2000 deposited. I just deposited $2000, and then moved it back out. The app and website truly is torture, I dont know why they have to make it so complicated. I have used many banks easily, maybe they could have two factor authentication, but to have to input all the details when sending a payment is torture! The thing also times out! The 2% cashback seems like a nice deal, and id probably consider keeping it if it was all purchases, like online etc. I just dont think its worth the hassle.
I received mine same day, but I left the 2k in there. Can't tell you exactly how long it took because their crappy app doesn't show transaction timestamps!
Do you think I should leave the 2k in there? I guess if it doesnt show up soon ill have to redo it. Their system is shocking and I keep forgetting the password and it has different rules which I usually use for making passwords to remember it.
Forgot last month..Do I need to start the deposit again for 3 months and still be eligible
Yes you do. Also note the 3 consecutive months have to be within 6 months of opening the account.
received $100, very quick, just after I transferred the 3rd month $2000.
2% cashback is also very good.
How quick is quick though? Instantly? I put the $2000 in but then moved it out.
instantly, less than 1 minute
Did you have to leave the money (i.e. $6k) in there till you get $100?
Got my $100. I’m keeping the account as I’m going to China next year and this seems to be a good account for OS spending.
Thats good, but is it though? I heard they have their own exchange rate thats a bit inflated. I cant seem to find the fees, or info about exchange rate. ING seems to be the best for travel as they have the atm fee refunds.
Put my 3rd deposit in today, fingers X'd the $100 is deposited as soon as it clears :)
I also got my bonus. The account still has added value (the 2% cashback) so I'll keep using them for now.
Got my bonus today when the 3rd deposit landed. Quick turnaround!
Everyone is claiming it is quick, Ive confirmed ive deposited 3 times, once a month the required $2000, aswell as today. No sign of the money. I did withdraw the $2000 soon after but never saw a term mentioning this….
I wonder why, let me know how you go.
Maybe a bug in their VLOOKUP function? 🤷♂️
Same as you. They do say they may take 10 business days though, so hopefully by the 15th it will be added.
…#MeToo
Any existing hsbc customer prior to opening this global account managed to get the bonus?
No not at all. My Dad had one though, with a similar name. Hope thats not why.
My partner had an existing credit card account, she called customer service and they confirmed she was eligible because she hadn't had this account type before but it's only 2nd month for her so can't confirm its worked yet!
Got my $100 bonus. Nice!
I'll probably keep using it as long as they keep offering the 2% cashback.
My $100 didn't go through after 3rd deposit, reading comments I'm wondering if only ppl using the card for 2% rebate are getting it straight away? Anyway I'll wait the 10days b4 I worry to much just got excited when I saw all the posts of instant payment lol Oh Well!
What's better than free money? Free money right now!!!
just got the $100 bonus after 2 deposit.
I used the card few times a month to get the 2% cashback :)
Cheers
My account landed $100 on the same day as deposit but my Wife has nothing yet even thought it seems to be automated.
The logic of HSBC.
No bonus here yet - transfer done on 2 October.
Same here :(
For one family member's account I transferred the last $2000 from a bank account at Big 4 Australian bank and the cashback did not register instantly. I later transferred $2000 from that first HSBC account to my own HSBC account and the $100 registered instantly.
Based on this I transferred the $2000 back to the first HSBC account and the $100 registered instantly for that transfer so maybe try that if you have two HSBC accounts under two different people. No guarantees that it will make the $100 appear instantly though
How many $2k transfers did you previously make into that account before the $100 appeared instantly?
It ended up being 4 transfers for the first HSBC account and 3 transfers for my own HSBC account before the $100 appeared for each (at the exact same time as the last transfer was received for each account)
Just a point. Is the HSBC FX spread nearly 6%?
So if you exchange $1000 from Aud to Usd, then later at the same Aud/Usd rate, go from Usd to Aud in your accounts. You lose approx 6%.
I guess this is why Crypto is growing in popularity.
Transferwise I think is more like < 1% for the same fx exchanges.
Wouldn’t you lose similar money converting into, and assuming there’s any left, back out of crypto?
You don't want to use this "global" account globally. It's terrible for the reasons you identified.
2% back on contactless in Australia isn't bad though.
My account was opened a couple of days before this offer was made available but I still got the $100.
Received $100 x 2 accounts opened immediately after satisfying 3 month deposit requirement
Just got my $100 bonus. :)
Also received it just after I deposited my third $2000 - time to close the account!
Still not received it. I wonder if I should contact them.
it's a system generated thing.. so as soon as my third deposit came in yesterday, the $100 appeared instantly.
I deposited it on the 2nd of October, and a few other people are reporting issues too.
Mine just came through today and I deposited 1 Oct - I contacted them yesterday and they said I joined 31/7 and therefore wasn’t eligible.. then it came through?
It might be easier to withdraw it and deposit it in again. Good chance it will work, based on JacobHarvey's comment, most likely the auto-mechanism to detect the 3rd deposit tripped up that time.
I completed my fourth deposit of $2,000 and it triggered the $100 bonus. HSBC logic.
8 Oct 2019 BONUS 100.00
8 Oct 2019 TRANSFER 2,000.00
1 Oct 2019 TRANSFER 2,000.00
1 Sep 2019 TRANSFER 2,000.00
1 Aug 2019 TRANSFER 2,000.00
Mine was the same. Perhaps it needs to be open for 3 months too?
Thanks for letting us know.
This from T&C, https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/everyda…
"We may take UP TO 10 BUSINESS DAYS to make payment of the AUD 100 to you."
You didn't read what I wrote properly - once the fourth deposit hit it triggered the system to automatically credit the bonus.
Good to hear. I just used the tap and pay for the first time in the hope of it helping it happen.
I got my bonus. Very happy with account and happy to keep for 2% paywave rebates.
Didn't get it after 3 deposits, but decided to deposit again after seeing the comments here. Got my $100 when my 4th deposit landed. I wonder if you even need to wait 3 months and can just deposit $2k 4 times…
This from T&C, https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/everyda…
"We may take UP TO 10 BUSINESS DAYS to make payment of the AUD 100 to you."
I understand that, but the $100 was immediately credit on depositing. Seems like a big coincidence if not.
I've tried depositing another $2,000 (second time this month), see how we go.
I'm wondering whether it is based on joining/approval date rather than calendar months - surely not - but this is HSBC after all. I joined on 21 August.
Just received the bonus. Does closing the account really require mailing in the form? Given how ancient the app is and how I've hated using it half a dozen times, it wouldn't surprise me.
What about just abandoning it? I might end up keeping the account solely to make use of the cash back. It works with beemit to transfer money instantly.
For those who asked above when the $100 was paid:
This from T&C, https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/everyda…
"We may take UP TO 10 BUSINESS DAYS to make payment of the AUD 100 to you."
I deposited $2000 last night for the second time this month and it worked. transferred it out instantly with beemit. Its a pity the website and app are so terrible to consider for everyday use but i may keep it just for the cashback.
You only had to deposit $2k twice and you got $100 bonus?
No, it took 4 times. Two times this month.
Got my $100 bonus today. I did a couple more transfers this month earlier but I didn't get the bonus immediately like the others.
Same. Deposited my 4th $2k into 2 accounts last midnight, payment received mid-morning, $100 bonus appeared in a couple of hours in both accounts. Now to put these HSBC accounts out of their misery!
Definitely going to hassle them online or email to close my account without this unnecessary snail mail deterrent.
Still no bonus after a week.
So after bonuses x2 landed on the 1st, wife and I have walked into a HSBC branch to open a joint account (since you can't do that online) to replace the two individual accounts, we'll keep them running for the 2% cashback.
First, they managed to misspell my surname on the account name. Second, we got a letter today saying they need a signed request for Visa debit cards on our joint account, and can we please post them a signed request!
Seriously.
The marketing might have worked to get us to keep using them for transactions, but if it was designed to get us to switch any other banking to them, forget it. Their online experience/app and what I've experienced of their customer service would make me run a mile from using them for anything more serious than a basic transaction account like this.
I made my 3rd month deposit today.
When should the $100 bonus credit to my account ?
—answer was above " it will take up to 10 business day"
It's now 12 business days since 3rd deposit and still no $100? Think I'll give them a call, all my friends I told about this deal got theirs same day as 3rd deposit! Weird
Still no $100. Haven't tried depositing a 4th time as others suggested works.
Anyone else overdue and no bonus?
Same here … have not tried the 4th deposit
Today I transferred my 4th & received the $100 straight away.
got the 4x $100 free monies few days ago thanks OP
How did you open 4 new accounts?
me, wife, mum and dad.
I transferred when I signed up last month, and then today, transferred straight out. Last month, I got an email saying it was approved, so I hope it also is valid this month.