About bank
HSBC Bank Canada is a subsidiary of HSBC Holdings plc — The Hongkong and Shanghai Banking Corporation Limited. HSBC operates in 63 countries worldwide and has 40 million clients.
HSBC opened in 1865 in Hong Kong and was incorporated as HSBC Holding plc in 1991 in London.
HSBC Bank Canada is the seventh largest and leading international bank in Canada, with headquarters in Vancouver, British Columbia, incorporated in 1981.
Features
- HSBC Bank Canada is a global banking institution, providing all financial and banking services under one roof. It has more than 140 branches across Canada, except on Prince Edward Island. In addition, customers can take advantage of more than 3,500 ATMs.
- HSBC provides services helping transfer the funds globally. While traveling, you may use its online products, rewards and branches, and ATMs worldwide.
- New to Canada features not just offers but special programs, which are designed for newcomers and people with an international way of living. It assists you in starting through cross border banking while you are abroad and preparing to move, study, and work in Canada.
- As one of the banks with an international perspective, HSBC offers innovative products, platforms, and favorable rates for individuals and businesses.
Pros and cons
Pros
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One of the largest financial institutions in Canada
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Reputable and secure
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Full-service financial institution
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Offers with bonuses for new clients
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Mobile and online banking as well a possibility to visit a branch
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Low lending rates
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Cashback and rewards
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Special options for clients who are new to Canada, travelers, and students
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Global services
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Multiple currencies savings and investments
Cons
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Low rate savings accounts
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It may be hard to qualify for the best options
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Chequing account fees
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Not the highest cashback
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Bad customers' reviews
Products
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Bank accounts: a wide range of chequing, savings, and investment accounts for personal and business use with different levels of privileges and requirements. These products provide optional overdraft protection, direct deposits, and automatic payments.
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Chequing accounts with no fees, such as Premier Chequing Account with no fees for global wire transfers and global account opening, access to all HSBC products, special rates, and rewards.
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HSBC foreign currency accounts with no minimum balance and five currencies available.
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Credit cards with cash back, rewards, personalized services, bonuses, and monthly fees waiving for any budget. Offers for students, newcomers, and seniors are provided.
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Rewards programs, such as Cash Rewards Mastercard with no annual fee and wide cash back options, impressing welcoming cashback rate included, and World Elite Mastercard with travel cash back, no foreign transaction fees, and a welcome offer with an annual fee 1-year rebate.
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Mortgages and options change between the mortgage options; for example, a variable-rate closed mortgage after the first three years becomes open to let you pay off or prepay your mortgage without penalty.
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Newcomers Program designed for emigrants, students, workers, travelers, and globally living people to answer their needs.
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InvestDirect is an international retail electronic trading platform for independent investors without portfolio management.
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Wealth Compass is a low-fee online service providing investments to mutual funds with professional personalized recommendations.
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World Selection Diversified Funds and Portfolios provide a great number of opportunities to invest in one place.
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HSBC Fusion lets you monitor and manage your personal and small business banking accounts in one place.
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HSBCnet online banking and a mobile banking app for business and corporate needs.
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HSBC Canada Mobile Banking App for convenient access to funds.
Services
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Lending: personal loans, lines of credit, home equity lines of credit (HELOC), mortgages, and a special offer for newcomers.
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HSBC Rewards program lets you use your credit card to earn points and redeem them for travel and financing.
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New to Canada services include chequing accounts, credit cards, insurance, Global View, Global Transfer, currency exchange options, and the ability to open International accounts.
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Investments: RRSP, RRIF, RESP, TFSA, GIC, Term deposits, mutual funds, ETF, and a special platform for DIY investors.
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Business banking services for various business types and sizes, global transactions with a great variety of products, accounts, and apps.
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Online and mobile banking with a full range of services, special online-only products, and 24/7 multichannel support.
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Wealth management and retail banking - tips and recommendations to help you prepare for a sound financial future and grow your assets.