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Earn 2% Instant Cashback on Everyday Global Debit Card (Tap and Pay under $100, Max $50/Month Cashback) @ HSBC Australia

2000
Earn 2% Instant Cashback on Everyday Global Debit Card (Tap and Pay under $100, Max $50/Month Cashback) @ HSBC Australia
Go to Deal
BargainsGrabber on 29/08/2022 - 08:31 hsbc.com.au (2106 clicks)
Last edited 06/06/2023 - 09:52

An OzReminder on this great offer from HSBC

Since the Hiver 5% cashback is about to be OzBargained from 7 Sept (aka no more cashback :/), it’s time to look for other alternatives while also waiting for upsized cashbacks on gift cards

Credit to hamza’s comment and previous OP’s HSBC post

Steps:

  1. Deposit at least AUD2,000 into your HSBC Everyday Global Account every month (can be withdrawn at any time).
  2. Earn 2% cashback instantly on purchases "under $100 (=$99.99)" with tap and pay. Max $50 per month.

Tips:

  1. Get the App to check if cashback is activated under Everyday Extras section
  2. Tap & pay with Apple Pay/Google Pay

Fees and charges for the Everyday Global Account

Account Service Fee Fee
Monthly Service Fee $0
Transaction Fees Local - Per Transaction
Online Banking $0
Deposits $0
ATM Withdrawals $0
EFTPOS $0
Bank@Post™(Post Office) $0
Automated Phone Banking $0
BPAY® $0
International Transaction Fees Per Transaction
Overseas ATM Withdrawal Fee $0
Overseas Transaction Fee – Payable when you make a transaction on your account in a currency other than Australian dollars, or you make a transaction on your account in any currency (including AUD) that is processed/billed by either the merchant or its financial institution/payment processor outside of Australia 0% of the total value amount of each such transaction
Financial Bank Account Cashback Debit Card Transaction Account

Related Stores

HSBC
HSBC
Visa
Visa

closed Comments

    • littlesoldier on 29/08/2022 - 08:52
      +8

      no, you can do any amounts as long as each transactions is less than $100
      you are not limited to only do 25 transactions per month
      so 25 x $99 or 250 x $9.9 will still achieve the same max cash back

      • dazza628 on 20/12/2022 - 12:15

        i think that's what he means, but the fastest way to reach the $50 a month is to be making 25 $99 spends in a month therefore spending $2475 in a month.

        I'm considering just changing to ubank, ing, or BOQ though for the higher interest rate on savings

      • OnlineShopper123 on 29/08/2022 - 09:20
        +12

        Done, I downvoted for you.

      • PopCounty on 29/08/2022 - 11:05

        Too harsh of a comment.

    • Martyroz on 29/08/2022 - 08:58
      +8

      Consider it to be 2% discount on every sub $100 spend. How is that bad?

  • Vulgar on 29/08/2022 - 08:59
    +7

    It's great, I've been getting 2%back on all transactions in between my churn spending for credit card signup bonuses.

  • USER DC on 29/08/2022 - 09:01

    I have heard from past comments here that some stores would be redirecting payment to like the most cost efficient way (aka via Eftpos i guess), when doing tap and pay.

    When in reality tap and pay should be going via the Visa/Mastercard Credit account network.

    Those comments in past suggested using their card via Google pay to eliminate this possibility of re routing the payment.

    That being said I had not experienced this such case, what I have experienced with HSBC is them not honoring me 2% cashback because according to them I didn't deposit $2000 in my bank previous month (when according to their monthly statements I clear did deposit $2000+). It was a case of where 1 particular deposit transaction didn't get recognized into that $2000 deposit requirement.

    • spaceflight on 29/08/2022 - 10:53
      +7

      When in reality tap and pay should be going via the Visa/Mastercard Credit account network.

      The reality is it can go however the merchant wants thanks to merchant choice routing
      https://www.nab.com.au/business/payments-and-merchants/talki…

    • b3au on 29/08/2022 - 14:08
      +3

      When in reality tap and pay should be going via the Visa/Mastercard Credit account network.

      If the card has both the contactless Visa and eftpos SAV applications on there - generally the terminal will decide which one is used.

      Hence when you use Google Wallet or Apple Pay - only the application you want is presented and the terminal doesn't know whether it has eftpos to use t.

    • heatedtowelrack on 06/09/2022 - 19:05

      Did you figure out why that $2k wasn’t recognised? And how long does it usually take for a deposit to be recognised after money enters the account?

      • USER DC on 06/09/2022 - 19:12
        +1

        Did you figure out why that $2k wasn’t recognised?

        no, my guess is just crappy HSBC system.

        And how long does it usually take for a deposit to be recognised after money enters the account?

        Usually as soon as it gets deposited.

        If I wanted i could have simply deposited another $200-$300, and it would have met the conditions, But why deposit 2200-2300 when the requirement is only 2000

  • Duckie2hh on 29/08/2022 - 09:06

    Just some food for thought. I understand the benefits of a cash-back incentive, but I find it hard to justify this route vs a credit card route (assuming you pay off all the debt at the end of each cycle), as you are essentially interest free for 55 days? Especially if you are paying 2+% interest on your mortgage, it would be better to have the cash in the bank longer.

    • Jojomcjojoface on 29/08/2022 - 09:11
      +11

      Step 1: get a mortgage

    • dumdum2 on 29/08/2022 - 09:34
      +2

      Did you get your mortgage from a loan shark?

    • peterwilliams83 on 29/08/2022 - 09:35
      +28

      If you make a $99.99 purchase on this card, you get 2% back instantly, eg. $2. If you use a credit card instead and put the cash in your mortgage until your credit card bill is due, you save 2% on an annualised basis, pro rata, eg. $2 / 365 days * 55 days which works out to be $0.30

      • Duckie2hh on 29/08/2022 - 09:52
        +3

        Good point

      • Tleyx on 29/08/2022 - 10:01
        +5

        Plus you don't get 55 days on all purchases, some purchases are only 25 days

        • WhyAmICommenting on 29/08/2022 - 10:39
          -1

          Yep, this is a serious rip job but it does say up to

      • netjock on 29/08/2022 - 10:03
        +2

        Hehehehe

        Also people don't understand that even in a best scenario frequent flier points are worth like 2c. There is also the risk the program is going to devalue it or you holding a lot of points but no seats.

        In a high inflation environment I'd rather get my 2% and be able to spend it on something else rather than some kind of mythical pot of gold at the end of the rainbow.

      • vetopower on 29/08/2022 - 12:59
        +2

        If you have a mortgage and don't need to worry about the number of new credit card accounts on file, you should always be churning.

        If you're always working towards the minimum spend on a sign up bonus, your return on spend is about 15%.

        Eg Westpac Platinum: $49 (for existing customers) for 70K QFF points (equivalent to about $700) after $4,000 spend.

        (700-49)/4000 = 16% return on spend

    • samfisher5986 on 29/08/2022 - 10:18
      +1

      Which credit card is better then this?

      Never seen anything unless you are buying $xxxx of items per month on a credit card that has a large yearly fee.

    • xazark on 29/08/2022 - 11:30

      Ok so I got a little tied up in the math on this, however I believe the 2% cashback works out better for the <$100 purchases up to the limit ($2500/mth). Assuming my calculations are correct, if you have $2500 in an offset account for 55days @ a 3% interest rate you are saving $11.30. If you make purchases to the max limit of $2500 in a month using this cashback process you will get $50 cash back.

      • foxmulder on 29/08/2022 - 15:48

        3% of $2500 for on month is $6.25.

        You can deposit $2k at the beginning of the month then soon after it hits HSBC account, you withdraw most of them out - back to your offset, just enough to get you by for a few days- a week or you can always transfer what you need if the balance low.

  • elvislj on 29/08/2022 - 09:31
    +5

    I have been using this for 2yrs now. It's works out better than qf points for small purchases. Especially good when topping up Opal or fill up petrol

    • littlesoldier on 29/08/2022 - 10:14
      +6

      It also works great with GC discounts from supermarket

      Basically added 2% on top of the original discount (eg. 12% TCN giftcards)

      Besides, I used to feel bad when some merchant charge credit card surcharge (eg. 1.5% ), but using this card with 2% cashback still feel better than paying cash

      • amsaini15 on 29/08/2022 - 10:17
        +4

        Exactly. I have same good feeling paying at Aldi.

      • ATangk on 29/08/2022 - 14:07
        +3

        Even at 2% surcharge, say the item costs $50, the surcharge is $1 but you’ll be getting 2% back on $51. You’ll be slightly ahead every time.

  • lakes_8 on 29/08/2022 - 10:01

    How's this for overseas purchases compared to ING?

    • littlesoldier on 29/08/2022 - 10:17
      +2

      I don’t have an ING card but got the Citibank debit which also has no international transaction fee

      From my experience , this card conversation rate is slightly worse than Citibank, so for overseas transactions I always use Revolut virtual card, better rate and also way more secure (as it’s one time use only)

      • H E B on 30/08/2022 - 12:48

        But even with the exchange rate difference, do you get 2% tap and go on overseas purchases also? Maybe it's wishful thinking but that would be so fab and offset and differences !!

    • ATangk on 29/08/2022 - 14:08
      +1

      ING is nothing special for overseas purchase. Where the ING shines (or did before until the 5 limit cap) is fully refunded ATM withdrawals overseas, including any local bank operator fees.

      • lakes_8 on 29/08/2022 - 14:53

        Thanks for letting me know the new 5 limit cap. Wasn't aware of it and going overseas next week.

        • ATangk on 29/08/2022 - 14:57

          Cash is much less prominent since Covid, so it may not be as big of a deal as before, just need to plan more carefully for cash transactions. The ING ATM withdrawals have really been super useful in the past. Once was charged $13 for an atm transaction, luckily it was free instead of having to hunt for a citibank atm or otherwise.

        • BluebirdV on 14/09/2022 - 15:57
          +1

          To get around the 5 limit cap with ING while you are overseas you can send 5 separate 1 cent payments to any other PayPal (e.g your father). It will cost 10 cents including fees. Otherwise 5 purchases overseas still counts I think. It will tell you if you have met the requirements in the app.

  • nicholasv on 29/08/2022 - 10:01

    I hate being a negative nick, and will probably get downvoted to oblivion for this, but what is the best use for this? 2% is great and is better than the value I'd get for my Qantas points on my ANZ CC, but since it's limited to tap&go, then doesn't it sort of kill the deal?

    For example, if I was going to make a big purchase at JB of $500, then I could split the transaction 6 times to get each tap&go under $99.99, and net a 2% Cashback. But I could also get a gift card from ShopBack for 2.5%+ and have a bigger saving. If you could stack the 2% HSBC rebate and the 2.5% ShopBack cashback, then it would be great, but can't you achieve better cashback via discounted gift cards?

    • nicholasv on 29/08/2022 - 10:04

      After thinking again, it might be useful when Colesworth have discounted gift cards, so take back my comment partially

      • USER DC on 29/08/2022 - 10:16
        +1

        Coles system wont allow you do split payment on purchases of GC's (unless you go to a manned checkout)

        for that reason woolworths is a lot easier and better choice generally.

        • nicholasv on 29/08/2022 - 10:17

          Yeh but you don't have a choice if Coles is the one with the 10% off/bonus flybuys points on the purchase of a gift card though

    • netjock on 29/08/2022 - 10:04
      +7

      limited to tap&go, then doesn't it sort of kill the deal?

      No. Horses for courses. <$100 tap & go. >$100 use your credit card.

      • nicholasv on 29/08/2022 - 10:06

        Nah I meant the method of payment being tap&go, and not being able to be done for online shopping etc. Purchases over $100 then I'd just split payment however many ways to get it under $100 each trx

        • netjock on 29/08/2022 - 10:07

          not being able to be done for online shopping etc

          I agree but lets just play with what rules we have. This is way better than the short run deal from Hiver. Lets hope this lives long!

          • nicholasv on 29/08/2022 - 10:12

            @netjock: Yeh true, take what you can get at this point I guess. Hopefully I don't get too reliant on it and forget to check for discounted gift cards before purchases haha

    • USER DC on 29/08/2022 - 10:15

      but can't you achieve better cashback via discounted gift cards?

      Wrong

      If you use this card at woolworths when they get discounted GC or GC with bonus ED rewards points, you can do split payments there. (GENERALLY those deals are way more than 2.5 % pissy CB from SB for JB hifi GC's)

      So that way generally works out to be at very least 5% back in ED rewards dollars + 2% back in Cashback

      • nicholasv on 29/08/2022 - 10:16
        +1

        Yeh I addressed that in my reply. That's about the only use I can notice for this besides pt

        • Makaveli99 on 24/09/2022 - 19:17

          Yea your reply has it all, not sure how that person Missed it.

    • samfisher5986 on 29/08/2022 - 10:20
      +2

      Most shops won't split transactions, especially on the same card.

      My trick is I either say I want to split on two different cards, or I split the transaction with my partners HSBC card.

      Gift Cards is an insane comparison in my opinion. You are committing a certain amount of money to a merchant that you will hopefully use and then you will hopefully get your cashback in 90 days…. So many ways to go wrong and so much time preplanning everything.

      • nicholasv on 29/08/2022 - 10:27

        I usually just buy discounted gift cards when I am ready to checkout, not always through SB, but it is confirmed on SB in 5-10 days, not 60

      • USER DC on 29/08/2022 - 10:33
        +2

        or on same card

        one with phone wallet (google/apple/samsung etc)

        and with another phone wallet or physical card.

        or simply use same phone wallet card again cashier does not know what card are using when you using your phone to pay.

        • samfisher5986 on 29/08/2022 - 10:35

          Yes they don't know but I feel so shifty doing it when they specifically say not the same card. The phone wallet idea is a good one, nice and separate.

  • amsaini15 on 29/08/2022 - 10:16
    +1

    I have been using this. Best thing after ING 5% (no longer available)

  • cheapass88 on 29/08/2022 - 10:18
    +7

    this card has changed my life with going to places that have surcharge. no more feeling guilty with surcharges as it's normally less than 2%. Also, going to aldi, i can just tap and you make a small % as they charge 0.85% and you get 2% back!!

    • Mokr on 29/08/2022 - 10:21
      +2

      It's good but churning cards gives the best return on investment.

      • HereToSave on 29/08/2022 - 14:18

        Any advice on churning?

        • vetopower on 29/08/2022 - 16:29
          +4

          Always be working on a bonus.

          Keep a spreadsheet to track eligibility for cards.

          Cancel as soon as bonus posts and is redeemed to reset the clock.

    • nicholasv on 29/08/2022 - 10:28

      Thank you! Restaurants and ALDI, didn't even think of that use for this card

  • samfisher5986 on 29/08/2022 - 10:22
    +1

    Whats great about HSBC is I can go to a restaurant with a phone menu + online payment and they will charge a 2% surcharge for that. I then walk up with my HSBC card and order in person, and save 2% instead.

  • Euthyphro on 29/08/2022 - 10:37
    +1

    Old news. It's been there since 2019.

    • DoctorCalculon on 29/08/2022 - 19:11
      +4

      OP has marked it as OzReminder, so they get a pass.

  • SmellyTofu on 29/08/2022 - 11:35
    +1

    Yes old news. To my 8 mths of using it, I've got around $300 back (incl the $100 bonus). Way better than my CBA credit card rewards where I'd wait 5 yrs to get $800 back less the annual fee and I get the money back immediately, not in some distant future when I want to redeem the points. Just a tip for those using it that charge a surcharge on using the card. Just don't say to use $100. Make sure the value including surcharge is <$100 and you get the 2% back. I had "free" reign on the restaurant's EFTPOS machine to pay a bill and I stupidly put $100 in the machine but it ended up being $100.12 on the bill so I didn't save $2 on that transaction.

    • littlesoldier on 29/08/2022 - 11:51
      +4

      got the same lesson learnt before
      even exactly $100 wont get cashback
      $99.9 or less

      • SmellyTofu on 02/09/2022 - 08:52

        Thanks for that tip. I didn't know it had to be $99.99 or less.

  • Kafkaesque on 29/08/2022 - 12:09

    If I deposit $2000 each month, am I still able to withdraw $1000 (meaning total balance less than $2000) and still qualify for the bonuses?

    As in I would prefer to put the money elsewhere i.e savings

    • johnn on 29/08/2022 - 12:35
      +2

      Yep from what I've read it should be fine. Just $2k going into the account per month.

      Doesn't need to be $2k in one deposit either- you could theoretically deposit and withdraw $100 over 20x a month and it would qualify.

    • Vavoom on 29/08/2022 - 12:48
      +2

      Correct you don't have to maintain the $2k in there, just have money come in. I set up an automatic transfer to put in $2k, leave it for a day then automatically send it back out.

    • MrFunSocks on 29/08/2022 - 12:52
      +1

      Yep, I've had this for a while and just scheduled a $2k deposit at the start of each month and then a $2k deposit out of the HSBC one a few days later (as the deposits into HSBC take a few days), and I get the 2% cash back.

      • DoctorCalculon on 04/09/2022 - 09:26

        as the deposits into HSBC take a few days

        Deposits are instant.
        Maybe your sending bank has not adopted NPP.

    • io on 29/08/2022 - 16:11
      +3

      I transfer in 2K and transfer out 2K the same day and it qualifies.

  • anhtram222 on 29/08/2022 - 12:20

    Can i open the account online?

  • niknikniknik on 29/08/2022 - 13:57

    I know it's just vanity, but the old black HSBC debit card looked so good and got me over the line for opening the account. The new lion one looks trash.

    • Vavoom on 31/08/2022 - 11:29

      I've just added it to my iPhone wallet so you won't even need to physically use the card anymore.

  • niyiaw on 29/08/2022 - 16:29

    Works well until you're missing a cashback and spend months chasing them up for it

    • littlesoldier on 29/08/2022 - 17:26
      +1

      Unlike Citibank or AMEX
      This cashback is instant and show immediately in the app
      Never need to chase with them on missing cashback

      • niyiaw on 29/08/2022 - 19:43

        It's supposed to be instant but I have had several instances of random transactions missing cashbacks. Pain in the ass chasing it up for months. Normally they do pay but takes forever while they "investigate". I'm still missing one from May that I've already chased up several times through chat which now reminds me I should probably lodge a complaint.

        • littlesoldier on 29/08/2022 - 19:49

          Probably some random issues I believe
          IMO might not worth spending lots of efforts to chase the $2
          Anyway, thanks for bringing this to be aware of

  • FujiFruit on 29/08/2022 - 17:43

    I’m sick of shops asking even coles/woolworths/other large purchase at other shops asking why I have to do $99 transactions instead of the whole amount. They don’t like that I say that the way the bank is , have to do transaction under $100. A few of them say that scammer do it that way I was also refused by coles one time because of makings the choice to pay $99 at a time.
    What do u guys says when asked why u are paying $99 at a time ?

    • MrrMagic on 29/08/2022 - 18:03

      None of your business.

    • BoBo-the Angsty PhD on 29/08/2022 - 18:56
      +4

      Consider using self checkout instead?

    • bird380 on 29/08/2022 - 20:48

      Scammer normally won’t use the stolen credit/debit in a physical store as there are many cctv instore that can be identified who they are.

    • littlesoldier on 29/08/2022 - 20:54
      +1

      I pay using apple watch, if they really asked just say my bank mobile payment has a limit of $100 per transaction

  • utsc on 29/08/2022 - 21:22

    Is this the next option since Citibank no longer offers free extras?

  • OzOzOzOzzzzz on 30/08/2022 - 06:20

    anyone know why paying with card 100% get cashback but when using apple pay the chance of getting cashback is much lower( like 60%) ?

    • wangasm on 30/08/2022 - 11:46
      +1

      Actually physical cards aren't 100% either. Some merchants can route your transaction to be processed through EFTPOS (savings) by default instead of Visa which means you won't get cashback as per the terms.
      Google Pay always defaults to Visa, which is why that is the preferred way to pay. I believe Apple Pay you can now choose between Visa and Eftpos (Haven't used Apply Pay myself).

    • Webber000 on 30/08/2022 - 19:10
      +1

      No way is guaranteed. I've only ever had 1 issue with Google Pay, whereas I've had about 25 card transactions fail to get cashback. Like previous posts above I've also had times where it doesn't think I've made the $2k deposit that month.
      Kmart, Coles, Coles Express all tend to default to Eftpos (according to feedback it seems to vary by store as some haven't yet had the IT update on their tills) so you won't get it if you use your card there (but will if you use Google Pay as the store can't override that). You never get cashback if the store routes it as Eftpos (HSBC are clear it is only if it is routed through Visa/Mastercard).
      You will also find that sometimes the people saying they didn't get it actually made a purchase that didn't qualify. HSBC don't award cashback on government, transport, parking, vending machine transactions etc etc. (Theres a hack where if you topup an opal card at coles/ww then you can get it but you generally don't get it if you use a topup machine at the station or pay by tapping your card or phone on the bus).

  • OzFrugie on 30/08/2022 - 09:44
    +1

    Does HSBC support Osko? Do they still have horrible online banking and app?

    • foxmulder on 30/08/2022 - 09:49
      +2

      Transfer into HSBC is instant to me from Ubank but out of HSBC back to Ubank is not instant.

      • OzFrugie on 03/09/2022 - 12:41
        +1

        do you have to enable Osko in HSBC first to make it instant transfer?

        Edit: just realise HSBC does not support Osko lol…

        • foxmulder on 03/09/2022 - 13:07
          +1

          Yah, I believe it's the bank itself.

    • wangasm on 30/08/2022 - 11:30
      +5

      Osko only works inbound, not for sending out. You can use beemit transfers to get around this.
      The app has been updated but it still sucks, definitely one of the worst banking ones I've used.

    • Webber000 on 30/08/2022 - 19:13
      +3

      No they don't still have the horrible app! They updated it earlier this year and made it WORSE!
      (Changed the layouts and colours for no reason, and now if you want to go into Cashback Extras you have to click it, then exit and go back because it just will not load ever no matter how long you wait, press yes to the popup are you sure you want to exit, and then click Cashback Extras again and it will load straight away). Apart from that its the same.

      • DoctorCalculon on 31/08/2022 - 00:39

        They updated it earlier this year and made it WORSE!

        Selecting your account from the account listing screen is still damn painful on the HSBC iOS app.
        You have to tap on the account row multiple times before it goes into the details view.

        It isn't that hard to fix this issue, but they haven't bothered or don't care.

  • OzFrugie on 31/08/2022 - 00:28
    +1

    is this the highest cashback for bank account right now?

    if i transfer 2k in, then immediately transfer it back out, does it count?
    or, does it need to be left in the account for at least 1 day?

    • BoBo-the Angsty PhD on 31/08/2022 - 08:33

      My personal experience is that there is no need to deposit the amount there overnight, as I have been doing this (same-day churning) every now and then since I was a student.

      However, whether to follow the common belief that it is safer to put a deposit overnight since banks usually calculate the interest daily is at one's discretion.

    • foxmulder on 31/08/2022 - 08:53
      +1

      I usually transfer in with instant payment from Ubank at the beginning of the month, then soon after I open the HSBC app to transfer out, leaving just few hundreds.

      Yes it's one of the highest cashback you ever get, combo this with using discounted gift card in your purchases.

  • Sidor on 01/09/2022 - 07:24

    If I transfer $2000 today, 1st of September, will I be getting 2% rebate from the same month of September or from October only?
    Thanks

    • foxmulder on 01/09/2022 - 07:48
      +2

      It starts whenever your HSBC account get that $2k - as it's most likely instant - today.

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