HSBC Online Share Trading: $100 in Brokerage Rebates / $200 Bonus with Portfolio Transfer (Minimum $50,000 Value) to HSBC

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Just received an email for this deal. Offer 1 for new customer only. Offer 2 for both new and existing. Never used it before. I may transfer in to get the $200 then transfer back out

Offer 1
HSBC will rebate the brokerage fee of your first 5 trades executed on or before 28 February 2022, up to the maximum total rebate amount of AUD100

Offer is available to new customers who activate their HSBC Online Share Trading account by 31 January 2022 and trade between 10.00am (Sydney time) 1 December 2021 and 4.00pm (Sydney time) 28 February 2022

Offer 2
HSBC will provide a single cash payment of AUD200 when you make a lump sum portfolio transfer with a minimum value of AUD50,000 into your account by 28 February 2022.

Offer is available to new or existing customers that make a lump sum portfolio transfer (via either a Broker to Broker transfer or Issuer Sponsored conversion) with a minimum value of AUD50,000, into their HSBC Online Share Trading account between 10.00am (Sydney time) 1 December 2021 and 4.00pm (Sydney time) 28 February 2022. Portfolio transfers that meet the criteria must be held within the respective HSBC Online Share Trading account at 4.00pm (Sydney time) 28 February 2022. For the avoidance of doubt;

The lump sum portfolio transfer of ASX listed securities must be made from another broker, or an Issuer Sponsored conversion into your HSBC Online Share Trading account. Off market transfers or transfers between HSBC Online Share Trading Accounts will not be eligible for this offer.
The lump sum portfolio transfer must have a minimum value of AUD50,000. Multiple transfers below AUD50,000 that total this value, will not be eligible for this offer.
Limit of one AUD200 cash payment per HSBC Online Share Trading account. Multiple transfers of AUD50,000 will only be eligible for a maximum cash payment of AUD200. This cash payment will only be awarded for the first lump sum portfolio transfer with a minimum value of AUD50,000.
For more information on how to transfer your portfolio visit https://www.sharetrading.hsbc.com.au/tradenow/FAQs/tradingse... This link will open in a new window

The single cash payment of AUD200 for a minimum lump sum portfolio transfer of AUD50,000 into your HSBC Online Share Trading account by 4.00pm (Sydney time) 28 February 2022, will be paid to your linked HSBC transaction account by 18 March 2022. This Offer is not transferable.

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Comments

  • +1

    I am an existing customer and got the option 2 offer

  • Sound like money laundering at best right here, avoid this shady company with bad customer service.

    • why is it money laundering? just curious

    • +2

      Bad service, cannot disagree. But HSBC.. hardly shady right?

  • What effort is required? Do we need to submit documentation to get the account approved?

    • If you ever get approved, regardless of how many documentation you provide, they will use your documentation to assist in their money-laundering effort :).. 1/2 JK

  • +5

    Terrible customer service. Also $200 is not even 0.5% of 50k, hardly worth bothering.

    • +1

      I agree… plus their brokerage is $19.95 per trade (double selfwealth cost)… $200 'bonus' for transferring a $50k+ portfolio is hardly an incentive..

      • First 5 trades free for new customers mean's you could transfer in holdings you were intending to sell and do it for free.

        • does it take a decent chunk of effort/time to transfer holdings?

    • +1

      Just wondering, any platform has better transfer incentive than this $200?
      When I look into this deal, it looks like a free money to move the shares in and out?

      • Just depends if you value your time or not, anything that requires KYC is a bit of a pain to sign up, and their customer support is useless so if something goes wrong during the "move in and out" it'll be a pain.

  • +1

    1/ Buy Cash* ETF thru other cheap broker
    2/ Transfer to HSBC - get $200
    3/ Sell Cash* ETF - free brokerage

    Winner?

    *to avoid risk of market movements

    • +1

      The returns on Cash ETFs are meagre. Why does one invest in a cash ETF vs say an ING account which pays you 1.35%?

      • +1

        it's just an in-and-out transaction, to take advantage of the the $200 in just a span of a few days is much better than 1.35%.

  • I got this email, and it applies to me. My property fund is about to convert to shares, which I am an absolute newbie to. So I am planning to do this. I know nothing abouts shares, buying, selling or holding. But I have to learn

  • which is the heroes account with the frequent flyer points

  • -1

    Far better to stake that $50k in USDC or AUDT on any crypto platform.

  • +1

    here is the frequent flyer points offfer
    https://www.qantas.com/au/en/frequent-flyer/member-offers/su...

    • Looks like that Superhero is not CHESS sponsored
      will that be an issue in transferring shares?

      • I dont know, i am a newbie, but I think I want both offers.

  • Any fee for transfer in and out?

  • +3

    I had enough after using their badly designed banking app. After that experience, wouldn't even touch anything that has HSBC on it.

    • I am not able to transfer funds out online from the transaction account, way too difficult.

      • +4

        Even logging into the banking website is so complicated and one needs to remember at least three types of passwords to perform a regular transaction

    • +1

      Funniest thing about HSBC is how the password does not distinguish lower case letters to capital letters. Really? That's the level of security they apply to their business and customers? Lol

  • I don't have any accounts with HSBC. Can I still apply and get this deal?

  • $200 is not worth dealing with these grubs

  • I love them, they give me 2% cashback

  • filled first page to sign up. somehow save+continue button is still passive. should you put something in middle name box even if you dont have one?

  • Doesn’t it cost money to transfer your shares from platform to platform?

    • Depends on the broker. Most are free. I couldn't find any mention of transfer fees for on market transfers (only off market which is different)

  • About this part: "Portfolio transfers that meet the criteria must be held within the respective HSBC Online Share Trading account at 4.00pm (Sydney time) 28 February 2022."
    Does anyone know if it means we need to have $50k worth of stocks at 4.00pm (Sydney time) 28 February 2022?
    Seems like that to me …

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