HSBC has a great offer for new checking accounts. The offer was supposed to expire yesterday, but it looks like expiration dates have been removed from the offer page, so it is still valid. This is also a great opportunity for those who already have an account since you can get up to $1,000 in referral bonuses. Accounts must be opened only in a branch or over the phone.

Offer Requirements

Use an assigned personalized referral code to open a new qualifying checking account in a branch or over the phone during the offer period and fully fund by December 29, 2017.

• $500 bonus deposit for becoming a Premier client
  • To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain $100,000 in combined U.S. personal deposit and investment balances. Business owners may use their commercial balances to qualify for a personal HSBC Premier relationship.
  • A monthly maintenance fee of $50 will be incurred if minimum balance requirements are not maintained.
• $250 bonus deposit for becoming an Advance customer 
  • To qualify for an HSBC Advance relationship, you need to open an HSBC Advance checking account and maintain combined U.S. personal deposit and investment balances of at least $10,000 OR at least $5,000 with a recurring direct deposit from a third party to an HSBC Advance checking account at least once per monthly cycle.
  • A monthly maintenance fee of $25 will be incurred if minimum balance or minimum balance with direct deposit requirement is not met.
• $50 bonus deposit for becoming a Choice Checking customer
  • Choice Checking relationship requires the maintenance of $1,500 in U.S. consumer deposit and investment balances or a recurring direct deposit from a third party to a Choice Checking account at least once per statement cycle to avoid a monthly maintenance fee of $15.

Referral Bonus

To help reach your maximum annual referral bonus of $1,000 even faster, we created a new limited-time tiered rewards program where your referral bonus can double after your second referral during this offer period. Your friends can get higher rewards, too. And, for a limited time, Choice Checking is now eligible for rewards, along with Premier and Advance. So make this your most rewarding summer yet and refer a friend today.

Reward doubles at 3rd referral–$1,000 cap:

To refer a friend, you must be an HSBC Premier, Advance, or Choice Checking customer:

1.  Log-on to Personal Internet Banking to view your Share the Experience referral page and personalized referral code.
2. After you log-on to Personal Internet Banking, share your personalized referral code with friends by either:
   • providing them with your personalized referral code
   • printing the referral form, which contains your personalized code
3. When your friend opens their new qualifying Premier, Advance, or Choice Checking account during the offer period, they simply provide the banker with your personalized referral code at account opening. For you to receive credit for the referral, the new account can be opened only in an HSBC branch or over the phone and must remain open for 15 business days.
4. Your referral bonus will be deposited to your qualifying HSBC Premier, Advance, or Choice Checking account within 8 weeks of your friend’s account opening.

Share Your Referrals

If you have a HSBC account already, you can follow the steps above and you can share your own referral links in the comments. Just please retweet this tweet or share this Facebook post so you can give something back. Also post a link to your shared tweet/post in your comment, or in the website field so I can see that you shared it. Thank you in advance.

Guru’s Wrap-Up

If you’re signing up, then the $250 bonus is probably the best option for most people. The $50 bonus is not worth a new account and the $500 bonus requires $100,000 in combined deposits. The bonus gets much better if you can get one of your friends or family members to refer you since they can get $100-$200 per referral.

Just a warning that HSBC has not been very accommodating to say the least, when it comes to pyaing out the bonuses. Lot’s of people have had issues and it takes lots of back and forths to finally get your bonus sometimes. Even the account opening process sometimes takes a while.

The bonus was due to expire on 7/28/17, but all references to an expiration date have been removed. So as of now there is no expiration date.

Offer Details

• Offer Page
• Bonus: $50/$250/$500
• Account Type: Choice/Advance/Premier
• Availability: Nationwide
• Expiration Date: None
• Inquiry Type: Soft pull
• Direct Deposit Requirement: No
• Other Requirements: Yes, see above
• Monthly Fee: Yes, can be waived
• Closing Account Fee: No

HT: Howie in comments (use his referral code as well)