Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Links in this post may provide us with a commission.
HSBC Checking Bonus
HSBC has just released a new checking account bonus that is both attractive and lucrative. Let’s take a look.
Begin a new HSBC Choice Checking, Advance or Premier relationship by opening a corresponding HSBC checking account from September 6, 2016 through November 18, 2016 and receive $350 after completing the offer requirements.
How It Works
- Open your account
- Pay at least two bills per month from your new HSBC checking account via HSBC’s online Bill Pay for three consecutive months within 120 calendar days of account opening OR Receive at least one qualifying direct deposit per month into your new HSBC checking account for three consecutive months within 120 calendar days of account opening. A minimum cumulative amount of $3,000 is required.
- Receive a $350 bonus within 8 weeks of meeting the requirements.
- This offer requires each of the elements to be met.
- Customers who held any HSBC personal account between June 6, 2016 and September 6, 2016 are not eligible for this offer.
- A monthly maintenance fee will be incurred if minimum balance requirements ($1,500) are not maintained for your account relationship.
- HSBC Choice Checking, Advance, or Premier account must be open and in good standing at the time of gift fulfillment.
- Limit one welcome deposit of $350 per customer, including all individual and joint accounts – the first line name on the joint account is considered the customer for gift purposes.
- The welcome deposit to your HSBC checking account will be reported on the applicable IRS form(s).
Need to Know
- This is a soft credit inquiry.
- The account can be opened online.
- You cannot fund your account with a credit card.
- To avoid a $15 monthly fee, you must maintain a $1,500 balance.
- There is a $25 early termination fee if the account is closed within 6 months.
You can find the full offer terms and sign-up for a new account on this promotion page.
$350 for opening an account and making a couple of bill pays for a few months seems like a good deal to me. Sure, you’ll have to tie up $1,500 to avoid the monthly fee, but the return justifies it. If you open up the account it would probably be a good idea to simply setup all of your bill pays ahead of time (2 per month for 3 months) and then you don’t have to worry. Pretty easy money if you ask me.
I actually have a very old HSBC savings account just sitting open from a long time ago that I never closed. According to the terms it looks like that may disqualify me from this bonus which is a HUGE bummer. If not for that I would be opening up the account right this minute. Bonuses simply don’t get much easier than this.
Do you have any experience with HSBC checking accounts? Let us know in the comments!
HT: Doctor of Credit
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.