HSBC Transaction Account: up to $200 Bonus ($100 for Deposit Salary and 2 Direct Debits, $100 for Maintaining for Six Months)

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LMunchow on 08/09/2016 - 19:45 hsbc.com.au (1210 clicks)
Last edited 08/09/2016 - 20:24 by 1 other user

Found this while browsing today. To be honest, I will probably not take up the deal as I do not really use direct debits, but it may be useful to some.

Also, to be clear, a significant part of the deal is adding direct debits using their "easy account switching request" (http://www.hsbc.com.au/1/PA_ES_Content_Mgmt/content/australi…)

Step 1
Open an HSBC transaction account online, if you don’t already have one, or visit your local HSBC branch.

Step 2
Complete one easy form by 25th November 2016 (make sure you have your account number handy), to deposit your salary and set up at least two direct debit payments and receive $100^.

Step 3
Keep your salary and at least two direct debit payments set up for six months and receive an extra $100^.

Terms and Conditions: Offer is limited to one account per customer. Joint account holders will be treated as one customer. Cashback will be paid directly into the eligible HSBC account on the month following Easy Account Switching Form completion, and second cashback will be paid the month following the 6 month period. *Home&Away Privilege Program terms and conditions apply.

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• 

  amar503 on 08/09/2016 - 20:05

  Can I transfer from another account instead of salary deposit ?

  • 

    [Deactivated] on 08/09/2016 - 20:21

    always worked for me at ing and bank of melbourne.

    It simply a euphemism for deposit lots of cash every fortnight or month

    after all the sender name isnt listed and typically not all employers use the word salary

    I dont know what a direct deposit is.
    direct debit is different

    • 

      Munchow on 08/09/2016 - 20:25

      Sorry! A direct deposit is a result of my horrible attention to detail, I have amended the title, direct debit.

  • 

    jackofspade on 08/09/2016 - 20:40

    We do all the work for you by directly contacting your regular direct debitors and creditors such as your employer, gym, utility company and mobile provider to switch your payments to HSBC.

    Looks like they will contact your employer.

    • 

      enzioFirenze on 08/09/2016 - 20:54

      +1

      darn this I don't like, if it was just direct debits though, would have been feasible quite easily :D can anyone confirm?

    • 

      IVI on 30/09/2016 - 09:08

      -1

      When will OzB's learn to cooperate (as Farmers, et al. Do)?

      Become Employers, in pairs…or triangles, if need be.

      Or, less risky: just pay yourself (as many businesses do, in Real Lofe).

      You have nil to explain, beyond: It from my Business.

      PS Didn't this bank have PR issues, in recent past…?

      [Some could have "political issues" with doing bus. w/ it]

• 

  lilkid28 on 08/09/2016 - 20:30

  +1

  For existing customers who already has an everyday account, just start from step 2?

  • 

    CVonC on 08/09/2016 - 20:41

    Would like to know this too

  • 

    thefreelunch on 08/09/2016 - 20:42

    +1

    Good question. I've sent them an email to confirm.

    • 

      rgirardo on 12/09/2016 - 09:45

      did you answer from HSBC? can we start from step2?

      • 

        thefreelunch on 14/09/2016 - 18:26

        Email response from them below. Basically, you have to ring the and ask. The whole promotion is unclear.

• 

  WaywardOne on 08/09/2016 - 20:50

  Is the "Easy Account Switching Request" form just to switch direct debit / direct credits?
  How do they differentiate between a salary and any other direct credit?

  EDIT: Oh, I didn't read the bit where they contact your employer…hrmm…this seems quite invasive.

• 

  Windemere on 08/09/2016 - 22:25

  +2

  Seems like a lot, but I've jumped through hoops for less ($50 with St George). I'll give it a go, thanks OP.

• 

  supersabroso on 09/09/2016 - 00:28

  +1

  I tried HSBC during their promotion with paypass and 5% off for 3 months. It was the worst nightmare, mountain of effort to establish an account, their app is the worst app ever invented and the bank has no benefits aside from the initial sign up.

  Not worth the stress of switching to them if you have to deposit your salary with them for half a year! They make you jump though about 50 hoops to access your money through the app. It's more like a broken website.

  • 

    WaywardOne on 09/09/2016 - 21:36

    +1

    What's with the password baloney? Requiring two passwords and a username just to view your account balance in the bloated android app? Every other bank I've used only requires a 4 digit PIN.

    It's going to be a real struggle to endure HSBC for six months…

• 

  Scrooge McDuck on 09/09/2016 - 09:37

  Are there any fees on this account?

  I don't pay anything via direct debit. Will it work if I set up two direct debits to another account?

  I'll take up this offer if I can be clear on what I actually have to do to qualify. How much does my "salary" need to be? ¬_¬

  • 

    WaywardOne on 09/09/2016 - 10:03

    I'm in a similar situation.
    From Step 2 it says "and set up at least two direct debit payments "
    I'm hoping that they allow you to create direct debits in your HSBC account (as opposed to importing them from your previous account)

• 

  thefreelunch on 10/09/2016 - 08:28

  Does this promotion apply if you have an existing account? I emailed and:
  "Pertaining to your enquiry on the promotion, kindly call our product
  specialist for confirmation or to setup a new account for this offer.
  You can reach the specialist on 1300 308 008 or +61 2 9005 8220 from
  overseas (Open Monday to Friday, 8am - 8pm)."
  That's about typical from HSBC. Sadly, just too hard to bother.

• 

  thefreelunch on 10/10/2016 - 08:22

  +1

  Glad I didn't bother with this. HSBC just randomly closed my active account with no notice. Top service.

  • 

    rgirardo on 10/10/2016 - 09:26

    +1

    i rang them up and they said I was not eligible as I had an existing account, so I promptly closed it. now need to wait 24 months before I am considered a new client. HSBC is so backwards with their systems I am glad to be out of their Eco System.

  • 

    citygal on 30/10/2016 - 00:11

    +1

    They closed my mum's account as well without prior notice. Just sent a letter to her saying they decided to close her account. My mum rang them up but they said they didn't know why. They said it's the head office's decision but there's no contact details to head office.

• 

  WaywardOne on 05/11/2016 - 15:21

  I submitted the form in September, and the terms say "Cashback will be paid directly into the eligible HSBC account on the month following Easy Account Switching Form completion" so I assumed I'd receive the cashback sometime in October but nothing so far. Did anyone else receive theirs?

• 

  illumination on 16/11/2016 - 00:39

  Can anyone here confirm they've received their cashback?

  Any additional information on whether those who have recently held an account will be eligible? I'm in that boat and thinking of jumping onto this.