HSBC's New $25 Signup Bonus
Nov 30, 2005 - 8:47 AM by Ken Tumin
There's a new $25 signup bonus for HSBC's Online Savings Account. It's similar to previous ones in that it's not publicly advertised by HSBC. However, the promo webpage is available to everyone. This fatwallet thread reported on this and included the promo code "start". The small print of the offer states that the bonus will be deposited to the account within 45 days following account opening. The offer expires on 2/28/06.
I've contacted HSBC about previous non-advertised signup bonuses in the past, and they've stated that these promotions are offered by HSBC to select customers. However, many on fatwallet have reported receiving the bonus by just signing up at the promo webpage with the promo code. This fatwallet thread reported on a September $25 signup bonus, and many have replied in October that they received this bonus. There was also a $35 signup bonus. Several people have reported problems in receiving this one.
The important thing to note about this bonus is that there's no guarantee. However, there's not much to lose. HSBC's Online Savings Account rate is at 4.00% APY and requires only $1 to open. It also has some advantages over EmigrantDirect such as an ATM card. The quick summary of this fatwallet thread has some other good points about this account.
I've contacted HSBC about previous non-advertised signup bonuses in the past, and they've stated that these promotions are offered by HSBC to select customers. However, many on fatwallet have reported receiving the bonus by just signing up at the promo webpage with the promo code. This fatwallet thread reported on a September $25 signup bonus, and many have replied in October that they received this bonus. There was also a $35 signup bonus. Several people have reported problems in receiving this one.
The important thing to note about this bonus is that there's no guarantee. However, there's not much to lose. HSBC's Online Savings Account rate is at 4.00% APY and requires only $1 to open. It also has some advantages over EmigrantDirect such as an ATM card. The quick summary of this fatwallet thread has some other good points about this account.
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Anonymous - #1, Thursday, December 1, 2005 - 8:33 PM
Just make sure not to close the account within 6 month. Otherwise, you'll be charged $25 fee.
And as always read all fine print.
Neo (anonymous) - #2, Thursday, December 15, 2005 - 10:53 AM
Any idea of any minimum amount that needs to be maintained? Are there any other requirements? I opened my account a week ago with just a $1 initial deposit. I haven't deposited anything else but now that HSBC is higher than ED, I might consider to move it all over.
Neo
Banking Guy (anonymous) - #3, Thursday, December 15, 2005 - 7:06 PM
It appears you do need at least $1 to earn the interest rate (but who cares about interest on $1 :-). So it looks like you can keep the account open with just $1. I opened it with $10. With the bank-to-bank transfer, we should be able to link it with EmigrantDirect and transfer very easily.
Neo (anonymous) - #4, Sunday, December 18, 2005 - 11:48 AM
Any idea how long before the $25 sign-up bonus gets deposited?
Neo
Banking Guy (anonymous) - #5, Tuesday, December 20, 2005 - 12:13 PM
I think I saw others say 45 days on previous bonuses.
-Ken
Anonymous - #6, Wednesday, December 21, 2005 - 11:25 AM
Regarding how long for the bonus to appear:
12/12/05 - Applied for account
12/19/05 - ID/PW letters came in mail
12/20/05 - $25 bonus deposited
From what I've seen this was a fairly quick turnaround for HSBC so your milage may vary.
Banking Guy (anonymous) - #7, Thursday, December 29, 2005 - 6:23 PM
Thanks for posting about your signup history. I checked my account and I also received the bonus on 12/20. I've just added a post about this.
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