Open HSBC Smart Package Checking, get $50 Bonus
It looks like HSBC is offering a $50 bonus for opening their Smart Package, which includes their Interest Checking, a Mastercard Debit Card, and their money market account. Credit goes to user DaloSony of Fatwallet, who has also generously posted a scan of the offer. This may be a good deal for those with HSBC Direct accounts and want to be able have checks to link accounts like ING Direct and Emigrant Direct, and also avoid some lost interest from HSBC’s Bank-to-Bank transfers.
You must have either a $3,000 minimum balance or direct deposit to waive a $8 monthly fee according to their terms. Other people have reported that a transfer via ING is treated as a direct deposit.
More of the fine print:
*Cash bonus is available to new customers opening a Debit MasterCard Card. If you qualify, $50 will be deposited in your new checking account within 35 days of opening your Debit MasterCard account. HSBC reserves the right to charge your checking account an amount equal to the bonus if your Debit MasterCard account does not remain active for at least 180 days. Limit one (1) cash bonus per customer. Cannot be combined with other offers. The $50 bonus will be deposited into the interest checking account you opened and will be treated as interest income on form 1099. Offer expires February 6, 2006. If you open a Smart Package (with an Interest Checking account) and cease to have direct deposit, the minimum balance to avoid monthly maintenance fees shown on your Terms and Charges Disclosure will apply.
I am going wait and ask if this account is able to be converted to their Free Checking at a later time if the ING direct-deposit does not work. Or you could just schedule a monthly deposit from ING to simulate direct deposit and avoid all fees.
Find more in Deals & Offers | 1/21/06, 9:34pm | Trackback
January 22nd, 2006 at 10:05 am
Updates: I just called HSBC and
1) OnlineSavings balances do count towards the $3,000 in combined balances. So if you keep $3,000 there you won’t have to worry about direct deposit.
2) You can upgrade or downgrade your account at any time by calling them. So you could downgrade to the Free Checking after getting the bonus, theoretically.
January 22nd, 2006 at 1:12 pm
Just applied. Can downgrade after 180 days to Free Checking and still keep the bonus.
January 23rd, 2006 at 7:35 am
Do you know if it is new customers to HSBC or new customers to their checking account? If you already have a HSBC Direct Savings account, you may not be able to get the $50 bonus. Of course, I’m interested, since I don’t have a checking account but do have a savings account with them.
January 26th, 2006 at 11:39 am
Just came from a HSBC branch - they told me that the Online savings balance does not count towards the $3000 “Combined balance” required to be maintained to keep the account free.
January 26th, 2006 at 12:54 pm
Michael - According to my CSR, you just have to be new to checking accounts.
It sounds like these HSBC folk are not all on the same page, and giving out conflicting information. Very annoying. It may be time to use their e-mail feature, to create a virtual paper trail.
January 27th, 2006 at 12:34 am
Jonathan, I agree with you on this one. I was told by one CSR that I would NOT be able to withdraw cash from my Online Savings Account from an overseas HSBC ATM (and supposedly I would need a checking account if I were to do that). I thought it was odd because I withdrew cash from my regular savings account from an overseas ATM before with no problem in the past (except being charged fees)..
Anyway, then I was transferred to their “international division” and this second CSR said that I COULD withdraw cash from my Online Savings Account from an overseas HSBC ATM. Which I did just that soon after without any problems!!
Go figure now..
January 31st, 2006 at 5:17 pm
Was anyone able to get the $50 after openeing the checking account? I opened mine 2 weeks ago and still no $50
February 3rd, 2006 at 4:28 pm
I found the terms and conditions for the checking account:
http://www.banking.us.hsbc.com.....amp;Cs.pdf
Here’s a quote:
So, if online savings accounts are considered “personal savings accounts” (which aren’t defined anywhere) then you’re fine.
February 21st, 2006 at 10:00 am
Looks like the $50 bonus offer has been extended to March 15th, 2006.
March 17th, 2006 at 11:50 am
It looks like the ‘GET50′ code is now good until April 12, 2006, according to a postcard I just got from HSBC
March 20th, 2006 at 10:17 am
hi:) would you please scan the postcard with the expiration of Apr 12? i have applied online for the checking part of smart package on Mar 15 and the decision on it is ‘pending’…thanks.
March 21st, 2006 at 9:39 am
scan