Any tricks to get along with not having instant payments in HSBC global everyday account

Techefy on 20/06/2022 - 23:15

Hi all,

I was just wondering if anyone knows any tricks to avoid payment processing delays with HSBC global everyday account when sending money to someone. Since it doesn't have OSKO or whatever technology that handles immediate transactions as in Commbank, the payments get delayed and if it is done on a weekend have to wait until Monday to process the payment. This is pretty inconvenient!

I saw this Beem it thing and looks like I can only send money to the people who have registered to Beam it.

Just looking for any recommendations or tricks or workarounds for this.

Thanks in advance :)

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Comments

  • Hybroid on 20/06/2022 - 23:17

    Maybe check if HSBC supports https://payid.com.au

    Else, time for a new bank account!

    • Techefy on 20/06/2022 - 23:19

      Unfortunately, it doesn't. what a shame!

  • kyle on 20/06/2022 - 23:22
    +1

    Change banks. I have a friend who seems to want to stick with HSBC despite the poor service and IT inconveniences.

    • Techefy on 20/06/2022 - 23:22

      hmm… I'm greedy for their 2% cashback on everyday payments

      • kyle on 20/06/2022 - 23:29
        -2

        Get an Amex, and accumulate points for business class flights. Much more than 2% return.

        • KangaDrew on 20/06/2022 - 23:36

          The annual fee being…?

      • jsb on 21/06/2022 - 08:27
        +1

        2% Cashback is limited to $100 per month and that too for all transactions less than $100. Why would you use it as savings account where rest of the saved money do not earn any interest.

        Have a savings account at ubank (formerly 86400) which supports osko as well. And just transfer $2000 to HSBC per month to keep your discount going

        • foxmulder on 21/06/2022 - 08:41
          +2

          do $2k transfer at the beginning of the month and transfer back $1700-$1800 the soonest that first payment in. Cashback is $50 max a month right?

    • [Deactivated] on 20/06/2022 - 23:53
      +1

      poor service? i've found that not only do their postage times beat all other banks i've tried, the customer service has been excellent when i've had issues (my own fault)

  • Techefy on 20/06/2022 - 23:44

    EWWWW HSBC asked me to come to the bank to verify my account

  • mbck on 20/06/2022 - 23:59
    +1

    Payid is coming, not sure when, but maybe 2030 knowing hsbc

  • foxmulder on 21/06/2022 - 00:27
    +3

    Have more than one bank account. I use Ubank and it's osko to other bank and it earns interest. Added bonus to buy things overseas with no bank fees. And yes I use HSBC Global Saver account too.

  • Neoika on 21/06/2022 - 07:57
    +3

    Beem It to your another own account and then do instant transfer. It allows up to 5 cards.

    You may not realise that Beem It allows transfers between your own accounts.

    • Techefy on 21/06/2022 - 09:34
      +1

      Can I beem it directly to a third party account with their bsb and account number? Thanks

      • Neoika on 21/06/2022 - 10:37

        Debit card linked accounts only. The card must have both credit and EFTPOS.

        The new Virgin Money debit card is not eligible as it does not support EFTPOS.

  • techlead on 21/06/2022 - 08:37
    +1

    Use Beem it. That's how I instantly transfer out of HSBC.

    You can instantly transfer in via ING, even if you use BSB and account number. You have a $1000 daily limit though. So for anything more than $1k, I use Beem it to transfer in as well.

    • Techefy on 21/06/2022 - 09:34

      Can I beem it directly to a third party account with their bsb and account number? Thanks

      • techlead on 21/06/2022 - 09:40

        No, Beem (I think they rebranded), only works with your debit/credit cards, no BSB and account number involved. You can't transfer via credit cards, only with debit cards. You can link a credit card so you can Bpay.

      • Untalentedllama on 07/07/2022 - 00:44

        If you have a bank account with any major Aussie bank like CBA I sometimes transfer via Beemit to my CBA and then do the bank transfer through CBA

  • rektrading on 22/06/2022 - 15:44

    HSBC is quick to launder money for criminals but slow to provide banking services for their other users.

    • mini2 on 07/07/2022 - 10:45
      +1

      Seems like it, I went and deposit $8k cash into my own account and they demanded by ID and show where the cash is coming from.

      Even better yet, a couple of weeks later, I got a call from their AML team asking for the same shit again. If it isn't their TT rate is better than everyone else (bar KVB Global), I wouldn't be using them at all. I'm done with these clowns.

  • endolphin on 22/06/2022 - 17:54

    First of all. You're obviously young. I'm still not completely used to this whole Instant transfer thing. I'm always thinking to myself to make sure that I always do transfers before 4pm on a business day, which was the process for many many years.

    I have that HSBC everyday account for the cash back and yes they are a bank that is very behind the times. Still, I'm about to refinance with them as the $3288 cashback is too good to refuse (already churned the $4k St George one). Probably won't stay with them too long.

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