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HSBC New Account Offers 2023: Chequing & Savings Promotions

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.

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:

  1. Set up a recurring payroll deposit within 6 months of opening your account.
  2. Complete 2 pre-authorized debit transactions to different merchants within 3 months of opening your account.
  3. Send 2 Interac e-Transfers to different people within 3 months of opening your account.
  4. 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.

BalanceRegular interest rate*Bonus interest rate* (new deposits)Total interest rate (new deposits)
$0 – $24,9991.05%na1.05%
$25,000 and over1.55%na1.55%

*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.

Top Promotions this month

Get the best FREE chequing account offer in Canada ($350 cash bonus)

$350 cash bonus when you add a $100 direct deposit for 3 months.

Unlimited free debits and Interac e-Transfer transactions.

No monthly account or transaction fees.

No monthly or minimum balance is required.

Best no-fee cash back credit card with a $150 welcome bonus

$150 sign-up bonus on first $1,000 spending within 2 months.

Get unlimited 2% cashback in three categories of spending.

Low $12,000 income requirement and 600+ credit score.

0.50% unlimited cashback on all other purchases and no annual fee.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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