In addition to the 2% cashback deal HSBC are now offering $100 bonus for new accounts after some hoop jumping.
The AUD100 bonus paid in AUD to new HSBC customers (Not held an account in last 6 months) who open an HSBC Everyday Global Account before 31/07/20 and deposit AUD2,000 or more per month for three consecutive months within 6 months of opening the account.
Not even close to Citibank and ING. HSBC use their own rip-off rate according to what their Live Chat agent confirm
https://apply.hsbc.com.au/multiapp/calculators/foreign-excha…
Ah ok, thanks for that. I could see they use a different rate, for Euro it wasn't too far off (0.02~) but yep duly noted.
Also, Transferwise just made their MasterCard available for Australian customers. I received mine last week. One drawback though is that fee-free ATM withdrawals are limited to first AUD350 / 30 days (WTF??).
One of the more full-on everyday transaction accounts I’ve ever applied for (in terms of info required)….the price we pay for free money and funding terrorist related organisations, from what I’ve read!!
my kids want to fund their parties too, are <18 year olds eligible for this promotion?
If you research n find out, let us know!
I'd be more worried about the fact that HSBC only recently updated its deposit T & C's on the 1st July 2019, especially if you plan on leaving a significant sum of money with them. The new T&Cs imply potential bail-in of depositor funds:
Source https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/help/notice-of-change-23052019-deposits.pdf
Changes to Clause 10 “Miscellaneous” (page 100)
• Clause 10.7 is deleted and replaced as follows:
10.7 Both you and we will not be liable to each other for any of the following losses or damages (whether you or we knew or could
foresee any of these losses or damages):
a) loss of revenue;
b) loss of actual or anticipated profits;
c) loss of the use of money;
d) loss of anticipated savings;
e) loss of business;
f) loss of opportunity;
g) loss of goodwill;
h) loss of reputation; or
i) any indirect, consequential or tortious loss or damage however caused
Can you just dump 6k?
I wish. My dumps aren’t worth that much. 💩
That's the most intense application I've ever seen.
Holy moly just applied and it took 4 minutes for them to approve me
Stuck at step 6 on their woeful application. Any ideas?
Get unstuck.
got close to $60 worth of cryptos from coinbase for watching their training vids, deal is on here already. You have to use a photo id to sign up though…
same.. free money..
Here's the old deal https://www.ozbargain.com.au/node/460972 Still going and they have added a few more types of coins.
its a debit card…
debit cards are dangerous and banks dont pay as much attention as their credit cards.
If you're concerned about card fraud, you can link this account to a HSBC Serious Saver and keep your money there and transfer as needed with the app. I do something similar with ING.
Good post.. Free $💯😛
Applied 2 hours ago. Still waiting.
should've put your income at 211K like poor old barney joyce and it would've been approved in seconds
4hrs later and still nothing here.
19 hours and counting…
24 hours later. Finally approved!
Applied Aug 2, 2019, 11:08 AM (4 days ago), n still waiting
Same and still nothing. Lodged another application just for the sake of it yesterday and got the “we couldn’t verify your identity, visit a branch” garbage….not worth the hassle for me!
Called HSBC and they advised there was some technical issues on their backend, the application has been recieved and they will need to open the account manually. Will be opened in the next day or two. Unbelievable!!!
@ElectrkJonesy777: @Jonesy070707 nope not sorted, the bank is still not yet opened, lol
Im giving up like you
Such a pity have to miss the deal as I already have a valid Everyday Global Acc….: (
Do HSBC have Osko transfers?
Not available. Do a search here https://www.osko.com.au/osko-your-bank
Just like Citibank, they're only promising that they're looking into it
https://www.hsbc.com.au/ways-to-bank/online-banking/new-paym…
it's "coming soon" but has been that way for ages.
And their internet banking is pretty woeful.
Turns out I still have an HSBC global account from many years ago. Despite them sending letters constantly announcing suspension for non-use and me attending the branch to show ID the first few times. I still get emailed statements with my bunch of currencies and Flexi or something rather.
For others ineligible, my friend gets paid more than $100 a day as an acrobat in a travelling circus. But they make him jump through a lot of hoops.
cool story bro
how long do you need to put money in this account for?
as long as you want lol
Does anyone know if HSBC is already on the New payment platform?
Their mobile app and website looks like it was coded by a 12 year old. Or maybe they never bothered upgrading since 1980.
From memory, they upgraded their my account online 1 or 2 years ago. It looks even more basic before.
Totally agree! WORST mobile banking app ever (Android)!
No fingerprint, no Pin for login. Outdated UI and functions, not even a native app.
Was only able to log in once. Tried logging in more than 10 times on 2 phones since this morning and failed all the times with stupid "Continue" and "Verifying" buttons.
I thought Citibank app was the worst and I was wrong. This HSBC one easily scored that "respected" rank :)). This makes it tough to use their card for daily spending as their app is too slow and buggy to access and track expenses and transactions.
As long as it manages to login unlike the mebank app…
agree, online banking & app is absolutely woeful
tried chrome and IE both get to the submit button click on it and nothing happens what a waste of time.
then don't waste your time.
Great deal - Shocking application
Worst experience I've ever had opening a transaction account. The application form asks for too much info for a debit card, and after I finally finished they told me they can't verify my identity and want me to visit a branch with ID to complete the application. wtf
I had the same result. When I try to access the application via the app number they emailed, it says not found as well. I'll probably just bail on it.
Recommend people use passport for ID CHECK to avoid store visit.
wow oh wow. finished application and was instantly provided the new details to start deposits
I thought ANZ is the worst banking website, I was wrong.
I took me half a hour to went through the application and setting up the online banking. That’s why they have to pay us to use their bank account, just terrible.
The application was longer than my homeloan application. Too many combinations to remember, over security layers.
Started but decided not to continue. Not supplying all that info for a debit card. Also not sure if they'll do a credit check. Not worth the hassle
Can't complete application on mobile, just keep asking me to retrieve old application. What kind of question they asked?
they use equifax, that's why they ask so many dumb questions.
That was a weirdly comprehensive set of questions to open a transaction account… Provided false information about employment details, they don't need to know any of that.
I'm putting down manwhore and a hotel address. Let's see if anyone's checking…unlikely
Does the 2% cash back get activated as soon as $2000 is deposited? Or the next month?
as soon as it gets deposited, got a notification email.
The nationality selection shows indian at the top before afghanistan, looks like the programmers are indians and don't know about alphabetical sorting. And no wonder why the site is so shite.
wait till you get to the app lol
Applied with a view to having this card replace my main (CBA) transaction account, but after experiencing their godawful online banking (both mobile and web) there's not a chance that's going to happen. I'll take my $100 and run.
Same!
yup, it's the slowest and most cumbersome experience I've ever had with an online banking system.
Opened two accounts in under 10 mins. So far so good.
Arh, still no approval email after applied since +15hr ago - while some got instant approval. This is just a transaction account , what taking them so long.
Strange system.
Sure is. Like there’s some sort of dependency on the income you enter or the amount you’ll deposit each year….or it’s just completely random how they approve applications.
I only put 50 to deposit and 1k monthly balance, approved in minutes.
I guess they only use it for surveys and data gathering but nothing to do with actual account opening.
the security on the app is hard work. basically need a separate phone for each account, so it can generate the security code INSIDE THE APP (because codes sent to SMS is too insecure apparently) for each new payee created and/or when making transfers. alternative is to order the secure key device. I'm managing 4 accounts lol
You can use same device for security key, provide same phone number during application and register same phone on security key.
Do they do a credit check on this? I realise it's Debit card but reading the comments makes me feel otherwise.
They don’t and can’t. At least not Without proper documentation (which is not required).
it's like the use equifax for ID check but not credit check. got below email for one of the accounts I set up:
We are writing to tell you that we could not verify your name, address and/or date of birth against the information held with Equifax, the credit reporting body we use to electronically verify an applicant’s identity.
This could be because these details they hold about you are not accurate or up-to-date. You can contact Equifax on 13 83 32 if you have any questions or need to update your details.
We are required under s35C of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to tell you that we could not verify your identity this way.
Our attempt to verify your identity with Equifax will not show up on your credit file. Please note, this is separate to when we run an inquiry on your credit file for credit worthiness purposes, which will show on your credit file as us having made an inquiry.
So not a soft credit check or enquiry? Do equifax inquiries count as a negative for future credit card applications?
based on the email, no and no.
Where in the application do you stop them from creating a debit card?
someone said a checkbox underneath the card image, but I never saw one.
Upvoting now I'm set up but what a marathon. I applied yesterday and still don't understand why they ask for all that info for a debit card. My application was approved in a few minutes but then I couldn't register for online banking. I tried several times but got numerous error codes, online chat could not help. This morning I phoned and the lady I spoke to was helpful but it took ages. For example, I was transferred to automated system to set up a code and it gave me a "something went wrong" so I had to do it again. All done now but I hope this isn't a indication of things to come.
Anyway, thanks OP, with the diminishing value of Credit Card points I'm looking forward to the 2% cashback and I'll make good use of the $100
Maybe to go into some Chinese government database?
Has anyone who applied and hasn’t heard anything contacted HSBC to follow up? 24hrs now and nadda. Stuck at work and can’t contact them currently but was curious if others had and heard any rhyme-or-reason behind their process.
Can someone explain the 2% cashback people are referring to? never mind I just found it
If you don't have photo ID, you can't join HSBC. :-(
I had a credit card with them I closed a year or so ago. I have a copy of the letter from them confirming it's closed and it's showing as closed in my credit reports. logged in to my new bank account and they show it as active again. wtf?
Same here.
While I logged into my online account for the first time, I found a closed unactivated over 10 year old credit card is shown in my account.
I sent them a secure message about it and it looks like they've fixed it.
Still, what a shithouse bank.
If you're an existing customer and you can't submit the application… It's a known issue that's been ongoing for the last week and a half.
The solution that worked for me was (suggested by online chat support), after logging in, use the new customer application link, go through the 5 step process and it should connect to your account automatically. Probably based on your name, TFN, Passport Number, and/or that you're already logged in.
5 Step sign up link
https://apply.hsbc.com.au/multiapp/#/step1/bundle2
I was advised to do this by support, and it worked. They didn't tell me to log in first, but I'm listing what worked for me.
Funny how they create a promo that won’t even accept existing accounts.
What a circus of a banking experience. Experienced many of the problems reported above. Forced to download mobile app to transfer funds out of account. Wow the app reviews! Scheduled 3 monthly returns of 2k to start on 5/8, and they decide to transfer last night on 3/8. Also the frequency changed from monthly to weekly. Edited back to 5/9 and monthly for remaining 2 transfers. Can’t wait for my next random experience. Oh I clicked the unsubscribe link in their emails, which triggers a new email to [email protected]. So I send my email unsubscribe request, and it bounces back due to an undeliverable address. So much lol it hurts.
You guys should say thank you, you don't have to use that dongle calculator number generator thingie anymore.
I ordered the 'Secure Key' when I activated the online banking, which should take a few days to arrive.
I'd like to enable the 'Digital Secure Key' also (i.e. phone app) but can't find a way to do this now - any ideas.
I am going to speculate that you can only setup/use one method.
That's what I feared.
yeah should choose digital not that stupid key calculator dongle thingie
When I log on in the app it asks me to activate the 'Secure Key' (i.e. hardware key which hasn't arrived yet). If I click on activate (the only option) it just expires my session and logs me out.
Sorry, I quite liked using the doohickie so I haven't tried the app.
I love free $100 but I hate they use their own currency conversion system which is how they make their money with foreign conversion and no npp/osko What are the perks apart from the $100, and the 2% cashback. And what is the worst that could happen? Do they really need more information than another bank? And what could be done with that information? As its a debit card, it couldn't be used at all against credit rating if you closed it without using it could it?
Does this card charge international transaction fees? Is there a 2.5% for international visa transactions? I heard this card has a poor conversion rate, or is that only if you convert to another currency within their system? Meaning it will be different if you only have AUD in and use it overseas in another currency?
What's the go with using this as a travel card overseas? Looks like it could be fairly good (on par with Citibank)?
Not too sure how the conversion itself is done when storing another currency in your account.