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$350 @ HSBC for new checking customers: $1,500 balance + (recurring bill pay or DD for three months)

mavalpha 888 208 September 8, 2016 at 11:36 AM in Banks (4)
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Last Edited by mavalpha September 13, 2016 at 01:03 PM
http://www.us.hsbc.com/1/2/home/p...1778#steps
1) Open a Checking Account, with minimum balance of $1,500 at lowest tier.
2) Pay two bills/month, or set up $1K DD within 60 days.
Repeat #2 for three consecutive months, completed within 4 months of account opening.
3) Maintain minimum balance for two more months to avoid fees, while bonus processes. (Waived with recurring DD.)
4) Safe to close account after 6 months from open, otherwise $25 penalty may apply.

$350 bonus eight weeks after completing #2.
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Last Edited by sangup September 16, 2016 at 03:57 PM
In case if anyone is unaware of this, there's another way to avoid the monthly maintenance fee. If you have at least one active direct deposit going into the account each month, regardless of the amount, you won't get charged the monthly maintenance fee.

So technically, you could withdraw all of your money (or leave 1 cent behind if you wish, as pointed out by OP) after each direct deposit and you won't get charged the monthly maintenance fee.

I personally would rather put my $1,500 elsewhere that can give me a better ROI.

-febzz-


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378 Comments

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Joined Nov 2006
L8: Grand Teacher
3,520 Posts
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Pro
#3
Can I use online Bill Pay to my other checking account?
Reply Helpful Comment? 0 0
#4
can I use online billpay to pay for my gym membership monthly due of $50?
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Joined Jan 2013
L10: Grand Master
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#5
thansk
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Joined Apr 2006
World dominator and rebel
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#6
very tempting
Reply Helpful Comment? 0 0
#7
Seems like an excellent deal. Big Grin

Any gotchas that i may missed?
Reply Helpful Comment? 0 0
#8
In 4 1. Got in on the citibank/15k deposit $400 offer. This one is cake. The 3k DD is cumulative so 1k DD per month for 3 months should do it.
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#9
I shall accept this free money.
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#10
Quote from mavalpha View Post :
http://www.us.hsbc.com/1/2/home/p...1778#steps
1) Open a Checking Account, with minimum balance of $1,500 at lowest tier.
2) Pay two bills/month, or set up $1K DD within 60 days.
Repeat #2 for three consecutive months, completed within 4 months of account opening.
3) Maintain minimum balance for two more months to avoid fees, while bonus processes.

$350 bonus eight weeks after completing #2.
Anybody knows how HSBC treats as a new customer? I closed my account more than 6 months back. Will I be new now?
Reply Helpful Comment? 0 1
#11
Can I use them to launder millions of dollars of drug money?
Reply Helpful Comment? 7 4
#12
Quote from quizzer View Post :
Anybody knows how HSBC treats as a new customer? I closed my account more than 6 months back. Will I be new now?
Based on the following from the T&C if you haven't had a personal account with them for the past 3 months you are eligible:

Customers who held any HSBC personal account between June 6, 2016 and September 6, 2016 are not eligible for this offer.
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Joined Oct 2010
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#13
Quote from neffernin View Post :
Can I use them to launder millions of dollars of drug money?
Not in about four years. Raymond James is still pretty lax about it, though...
Reply Helpful Comment? 0 1
#14
Quote from neffernin View Post :
Can I use them to launder millions of dollars of drug money?
Go right ahead, let us know how it goes before you get a knock on your door
Reply Helpful Comment? 0 1
Joined Dec 2009
L8: Grand Teacher
3,087 Posts
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#15
HSBC is on of the biggest international banks outside of the US. I believe they are based in Singapore if not mistaken and have a very long tradition. The city of Singapore is actually built on a services economy and bar none are always top notch in that dept. I would say its pretty safe to bank with them.
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