HSBC Checking Account Bonus
HSBC has a new promotion that can earn you up to a $475 bonus with a new checking account. The offer is available nationwide and can be done online. Let’s check the details.
Offers
To qualify for the HSBC Premier $475 Welcome Deposit you must:
- open your new HSBC Premier checking account from January 7, 2020 through and including March 29, 2020; and
- make recurring Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
You will automatically receive the $475 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities.
To qualify for 2% Cash Back on Qualifying Direct Deposits up to $350 ($30 max per month), during the first 12 calendar months after account opening you must:
- open your new HSBC Advance checking account from January 6, 2020 through and including March 29, 2020 and
- set-up recurring Qualifying Direct Deposits from a third party to an HSBC Advance checking account at least once per calendar month for 12 consecutive calendar months following account opening month.
The 12 calendar months from account opening begins with the first full calendar month after your Advance checking account is opened. You will automatically receive the 2% cash back in your new HSBC Advance checking account approximately eight weeks after completing that month’s qualifying activities.
Key Terms
- The bonus is available nationwide and accounts can be opened online.
- Customers who held an HSBC consumer deposit or investment account from January 6, 2017 through and including January 6, 2020 are not eligible for this offer.
- Advance Checking has a monthly maintenance fee of $25 if minimum balance or recurring direct deposit requirement is not met.
- $5,000 direct deposit
- $10,000 in combined personal deposit and investment balances
- Premier Checking has a monthly maintenance fee of $50 if minimum balance requirement is not maintained.
- $75,000 in combined personal deposit and investment balances OR
- Recurring direct deposits totaling at least $5,000
Conclusion
A decent bonus from HSBC, but we have seen offers for as much as $750 in the past. Also keep in mind that during previous offers it has been reported that HSBC has been somewhat difficult when it comes to paying out the bonuses. And even the account opening process occasionally takes a very long time.
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Is there a way to satisfy the direct deposit requirement without involving your employer payroll department? My payroll department is exasperated with me because I’m always chasing bank bonuses.