Dedicated to Deposits: Deals, Data, and Discussion

$100 Checking Account Bonus at HSBC Bank

POSTED ON BY

HSBC
Update: There's a new promotion page for this $100 bonus with an expiration date of 12/31/08.

HSBC Bank is offering a bonus of up to $100 in MarterCard gift cards for opening a Plus Checking Account and a HSBC Credit Card. Here's the promotional page link. The steps for the $100 include:
  • $75 gift card requires opening a Plus Checking Account by 9/12/08 with an initial deposit of $4,000 in new money into any HSBC Deposit Account (excluding OSA and OPA accounts)
  • Additional $25 gift card when also opening an HSBC Cash or Fly MasterCard at the same time as opening the Plus Checking Account and making a retail purchase by 9/30/08.

The Plus Checking Account must remain open and active for 180 days. The main issue with this promo is listed in the small print: To avoid a $15 monthly maintenance fee, you need to maintain $15,000 in total combined balances including personal deposit, investment and qualifying credit balances. However, it seems like the balance in the Online Savings Account (OSA) should qualify for avoiding the fee. Even though the $4,000 initial deposit can't be into the OSA, you should be able to transfer the money from the Plus Checking Account into the OSA, and keep most of your money in this account to avoid the monthly fees as it earns a decent yield (currently 3.50% APY).

There's also a $25 bonus for opening a Premium Money Market Plus Savings Account at us.hsbc.com/saveit by 9/30/08. This used to be a $50 bonus. My last post on this was in July.

Thanks to the reader who mentioned this special in the finding deals post.

Related Pages: checking account, HSBC

Related Posts

Comments
9 Comments.
Comment #1 by Anonymous posted on
Anonymous
Seems like a lot of money you have to keep for 180 days just to get the $100 bonus. It does boost your APR a bit, and the money does stay liquid in case you need it, but HSBC has been more generous in the past with their bonuses. Thanks for posting this.

1
Comment #2 by Anonymous posted on
Anonymous
HSBC's problem is the Online Savings Account is not the most competitive AFTER PROMO rate and it is unclear as to if the promo rate will decrease.

HSBC And Countrywide are 3.50% APY now. HSBC has a short term promo while Countrywide's rate has not been lowered yet.

Unclear if HSBC And countrywide will be the best 2 banks to use as we go forward.

1
Comment #3 by hst (anonymous) posted on
hst
HSBC has been problamatic for me. I opened an account, funded it. It took over 14 days from the start before receiving my temp password. Then today, the system has been having technical difficulties. I could not access the accocount all day.

Anyone know what the problem is?

1
Comment #4 by Anonymous posted on
Anonymous
HSBC is back up now but has a warning message on the website.

Maybe the NY Times will cover the story with HSBC to see what actually happened.

On January 4th, 2005 a similar event happened. This isn't the first time that HSBC has been problematic.

1
Comment #5 by Anonymous posted on
Anonymous
TR/Crypt.XPACK.Gen [trojan]

was found on my PC after I posted this message and was apparently just put on my PC. I loaded up no new software on my PC which was recently downloaded.

The virus apparently came through a backdoor in my system.

1
Comment #6 by Anonymous posted on
Anonymous
Nevermind, virus apparently was unrelated.

Ran multiple virus scanners, seems like it could have been a false positive, but the program that it came from was on my machine for a long time already.

Removed the program and ran multiple virusscanners and nothing picked it up.

1
Comment #7 by dianne (anonymous) posted on
dianne
I was unable to access my HSBC account starting on Sunday around 2pm. Can access tonight, but there seem to be more substantive issues -- i.e., missing deposit. Can't get through on phone without very long hold time; they say they take 48 hours to respond to email. I only opened up this account in the last month, and am not happy. I would cut them some slack and not post this, but they have had no formal communication on this outage, which I think is bad business -- I am sure all their employees are going through a horrendous time with irate customers, and you would think management would step in and have some communication plan. Perhaps they cannot reach account holders due to the system problem, but there does not even seem to be a press release on their website.

1
Comment #8 by Anonymous posted on
Anonymous
It is not uncommon for banks to have their websites down for a few hours on Sundays while they update their systems. It would be nice if they posted this in advance or at least gave you a clue when you logged on to access your accounts, but in reality they really don't do this. I know that this is bothersome, but they do talk about this in their Terms of Service. This applies to all banks I think. As for HSBC, I agree that their customer service isn't so good.

1
Comment #9 by dianne (anonymous) posted on
dianne
Hey smarty pants, this is not just a simple website down for maintenance on a sunday. Why don't you check your facts first before you insuate that I am an idiot. There was a major crash. It is funny, the only places that seem to report on it is new york television news shows.

http://www.buffalonews.com/145/story/419560.html

1