$300 Brokerage Rebate to New Customers, $300 Cash Bonus if You Also Transfer & Hold Min. $50,000 Portfolio @ HSBC Invest

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screensaver on 12/09/2023 - 13:29 hsbc.com.au (177 clicks)
Last edited 12/09/2023 - 17:02 by 1 other user

Offer 1

HSBC will rebate the brokerage fee on all trades executed on or before 1 December 2023, up to the maximum total rebate amount of AUD300. This offer is available to new customers who activate their HSBC Invest account and trade between 10.00am (Sydney time) 4 September 2023 and 4.00pm (Sydney time) 1 December 2023. For the avoidance of doubt, a customer is new if at 3 September 2023 they do not currently hold a HSBC Invest account. The brokerage fee, up to the maximum total rebate amount of AUD300, for all trades completed between 10.00am (Sydney time) 4 September 2023 and 4.00pm (Sydney time) 1 December 2023 will be paid to your linked HSBC account by 15 December 2023. This offer is not redeemable for cash and is not transferable.

Offer 2

HSBC will provide a single cash payment of AUD300 when you make a lump sum portfolio transfer with a minimum value of AUD50,000 into your account by 1 December 2023. This offer is available to new HSBC Invest customers that make a lump sum portfolio transfer (via either a Broker to Broker transfer or Issuer Sponsored conversion) with a minimum value of AUD50,000, into their HSBC Invest account between 10.00am (Sydney time) 4 September 2023 and 4.00pm (Sydney time) 1 December 2023. Customers that have previously received a portfolio transfer bonus from HSBC are excluded from the promotion. Portfolio transfers that meet the criteria must be held within the respective HSBC Invest account at 4.00pm (Sydney time) 1 December 2023.

For the avoidance of doubt:

A customer is new if at 3 September 2023 they do not currently hold a HSBC Invest account.

• $0 establishment fees
• $0 monthly platform or admin fees
• $0 portfolio transfer fees
• From $19.95 brokerage per trade

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• 

  lovebargain87 on 12/09/2023 - 13:41

  +1

  $5000 and I will bite!

  • 

    screensaver on 12/09/2023 - 13:49

    +2

    its not a home loan

    • 

      lovebargain87 on 12/09/2023 - 15:23

      I am talking about the $50,000 value in share transfer. $300 for $5000 transfer I'll do it

      Don't think anyone would ever throw in $5000 cashback for $50,000 (or I would do everything I can to get a piece of the pie)

• 

  B3 on 12/09/2023 - 13:46

  +1

  How do you transfer a portfolio (of shares I assume) to HSBC?? And why would you do it except for $300?

  Don't understand what they're asking you to do here.

  • 

    netjock on 12/09/2023 - 13:51

    +1

    If you have an account they hope you stick. It is like paying you a bonus to open an account and do 5 - 10 transactions. Trying to get you to use it as your main account.

    There is lots of brains committed to this. Pity most of the time they just end up giving away good money.

  • 

    BoundedRationality on 12/09/2023 - 13:56

    +2

    Fairly simple to transfer, it's just a form you fill out and submit, then a few days later hey presto it's in your new account. However, some places will charge you an exit fee (looking at you Direct Shares/eTrade) which depending on your portfolio may be more than this bonus amount anyway.

    Also, at a quick glance, HSBC's rates for trades are higher than IG (who I use) so everyone should do their due diligence on if this is worth it for them.

    • 

      a1234my on 13/09/2023 - 18:10

      do IG charge any exit/transfer fee? Cant find anywhere

    • 

      amorn on 12/10/2023 - 10:51

      HSBC exit fee? is there fee to sell all and cash out?

• 

  plain_biscuit on 12/09/2023 - 14:35

  Portfolio transfers that meet the criteria must be held within the respective HSBC Invest account at 4.00pm (Sydney time) 1 December 2023.

  So wait till November to take advantage of this? Transfer back if we're not happy with it? Profit $300?

• 

  amorn on 13/09/2023 - 13:46

  Portfolio transfers that meet the criteria must be held within the respective HSBC Invest account at 4.00pm (Sydney time) 1 December 2023.

  Does it mean you can't change ie. buy/sell until 1 dec?

• 

  amorn on 05/10/2023 - 12:09

  1. If that requirement of >=50,000 includes cash holdings,

  2. What if my portfolio drops below 50,000 in-between now and 1 dec, either due to
     a. share price drops,
     b. between sale and buy orders?
     asked HSBC but their reply:

     "The portfolio is unable to be traded down due to if the valuation of the portfolio by the end date drops below the $50k value due to a trade, you will become ineligible."

  doesn't really answer these questions.