HSBC Canada has several new account promotions running in 2023.
When you open a new Premier or Advance chequing account and meet the eligibility conditions, you get up to a $500 cash back.
For newcomers to Canada, the welcome bonuses are higher at up to $1,650.
HSBC New Account Offers
The 3 main HSBC promotions to watch out for right now are the following:
- HSBC Chequing Account Offer (up to $500)
- HSBC Newcomers Program Promotion (up to $1,650)
- HSBC Savings Promotion (ended)
HSBC Chequing Account Offers
If you want a new chequing account, HSBC has some enticing offers for its Premier, Advance, and Student Chequing accounts.
| Premier | Advance | Student | |
| Welcome bonus | $300 | $300 | $50 |
| Digital Account opening bonus | $100 | $100 | $100 |
| Premier bonus | $100 | – | – |
| Maximum cash back | $500 | $400 | $150 |
To be eligible for the Advance and Premier $300 welcome offer, you must complete two out of the following four actions:
- Set up a recurring payroll deposit within 6 months of opening your account.
- Complete 2 pre-authorized debit transactions to different merchants within 3 months of opening your account.
- Send 2 Interac e-Transfers to different people within 3 months of opening your account.
- Complete 2 online bill payments to separate merchants within 3 months of opening your account.
The $100 digital account opening bonus applies when you open your HSBC account online.
To qualify for the additional $100 Premier bonus, you must deposit at least $25,000 in your account within 30 days of registration and maintain it for 6 months.
For the HSBC Student Chequing Account, you receive a $50 bonus when you deposit at least $1,000 in your account within 30 days of opening it and an additional $100 for opening the account online.
These offers are available until March 31, 2023.
HSBC Chequing Account Fees
These monthly fees apply to HSBC chequing accounts:
- Premier: $34.95
- Advance: $25
- Student: $0
Monthly account fees are waived for the Advance and Premier accounts when you meet the eligibility conditions.
HSBC Newcomer Promotions
Newcomers get up to $1,650 in cash back and savings. Here is how it works:
HSBC $500 Chequing Account Offer
You can open a chequing account and get up to a $500 welcome bonus: $500 for Premier Chequing and $400 for Advance Chequing.
The terms for this promotion are the same ones described above for the HSBC chequing account promotion.
HSBC Credit Card Offer (Up to $649)
When you open an HSBC World Elite Mastercard account, you receive up to $649 in total value as follows:
- Get up to $80,000 points ($400 value when redeemed for travel)
- Free rebate for the first year ($149 value)
- $100 annual travel enhancement credit
Learn more about the HSBC World Elite Mastercard.
No Monthly Fee Chequing (12 Months)
The monthly fee on your chequing account is waived for up to 12 months. For the Premier account, this can help you save up to $419.
Other Perks
Get a $50 bonus when you send two international money transfers within two months of opening your account.
An additional $50 is available if you open a safety deposit box within 6 months of registering an account.
The newcomer promotion runs until February 28, 2023.
HSBC Savings Promotion
The HRSA promotion has ended. Below are the current regular rates.
The HSBC High Rate Savings Account (HRSA) offers its highest interest rates on deposits.
The standard rate for Canadian dollar savings is 1.05% interest for deposits under $25,000 and 1.55% interest for amounts exceeding $25,000.
| Balance | Regular interest rate* | Bonus interest rate* (new deposits) | Total interest rate (new deposits) |
| $0 – $24,999 | 1.05% | na | 1.05% |
| $25,000 and over | 1.55% | na | 1.55% |
*Annual interest rates as of January 16, 2023; subject to change. Visit HSBC to view the current posted rates for the HRSA.
HSBC Promotions Summary
HSBC Bank Canada has welcome offers for its chequing, savings, and newcomer accounts.
It is one of the largest banks in Canada and worldwide.
You can view other new bank account promotions here.
