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HSBC Accounts and Services in Canada

HSBC Accounts and Services in CanadaHSBC in Canada is one of the world’s largest financial groups, serving over 45 million customers in 4,400 locations across the world. 

213,000 shareholders hold stock in HSBC Holdings PLC. HSBC bank offers loans, investments, and bank accounts to individual clients, as well as financial services for business owners.

HSBC Accounts and Services in Canada

HSBC Checking Accounts

Individual clients can apply for one of HSBC’s checking accounts, each with a different set of features. New clients may start with the Performance Checking – Limited Account, which offers the basic features for a small monthly fee. This account includes up to 14 free transactions per month.

For a higher monthly fee, clients can apply for the Performance Checking – Unlimited Account for unlimited free transactions. Both accounts have the option to waive the monthly fee for certain groups, like students or senior citizens.

Clients with multiple bank accounts can take advantage of the HSBC Advance Account, which allows clients to manage their accounts online and transfer money with a reduced fee. It includes free ATM withdrawals at all HSBC ATMs, as well as free access to phone and online banking.

For clients with over $100,000 in assets, HSBC in Canada offers an HSBC Premier Account, with exclusive features and personal advice with an HSBC Premier Relationship Manager.

HSBC Savings Accounts

In addition to these checking accounts, HSBC bank offers two options for savings accounts. The Tax-Free Savings Account allows clients to store and withdraw their money free of tax charges but has a $5,500 yearly limit. The High Rate Savings Account provides a high-interest rate, with no minimum balance or monthly fees. With this account, clients also receive access to phone and online banking. Some transactions are free, but others come with a small fee.

Services for Businesses

For businesses, HSBC provides a wide range of services that enable them to make transactions across the globe, making it easier to interact with foreign markets. The HSBC bank handles large-scale payments quickly and securely and takes steps to reduce trade risk. It also offers credit cards to cover the cost of travel for employees. In addition, HSBC bank offers several investment options to help businesses grow their income. Options include:

  • sweeping excess funds into one main account
  • collecting additional interest on extra funds through a separate account
  • and investing unused cash in a balance fund.

How to Apply

The HSBC’s services are available only to residents of Canada. Clients cannot apply directly for services online, but they can fill out a contact form on HSBC’s site to receive more info.

Additionally, clients can call HSBC’s phone number or visit their branch to speak with an advisor directly.

Business owners can get in touch with the HSBC by sending emails to the bank or filling out a form to request a callback through the bank’s site.

Ultimately, new clients must speak with an advisor personally to sign up for any of the HSBC bank services.