HSBC Advance Debit Card Review

The HSBC Advance Debit Card is a regular debit card with no special features. It lets you access your funds when you shop in-store or need to withdraw cash from an ATM. It doesn’t allow you to shop online or earn rewards when you make purchases.

This card comes automatically with the HSBC Advance Canada Checking Account and you won’t need to pay additional fees to use it.

30-second take

• Think about this card if you want to open an HSBC Advance Account and you just want a regular debit card.

• Choose something else if you want to earn points when you make purchases or you’d like to use your debit card to shop online.

The Basics

If you’re looking for a simple debit card that lets you access your money on the go with unlimited free transactions, you might want to consider an HSBC Advance Debit Card.

• Welcome bonus. You may be eligible for a welcome bonus when you sign up for the HSBC Advance Checking Account (which is affiliated with this card).
• Unlimited transactions. You can spend money on this card as much as you want since there are no transaction limits to worry about.
• Free HSBC ATM withdrawals. It’s easy to use your HSBC Debit Card to withdraw cash for free from HSBC ATMs and those on the Exchange network (around 3,500 total).
• ATM rebates. Enjoy five monthly ATM withdrawal fee rebates when you take money out at non-HSBC ATMs in Canada.

The perks

• Easy mobile banking. Manage your money on the go with HSBC’s simple online and mobile banking platform.
• Overdraft Protection. Get free overdraft protection to eliminate charges for non-sufficient funds (NSF) if your bank balance dips into the red.
• Transaction records. Track your spending with a transaction record every time you use your HSBC Advance Debit Card.

What to watch out for

• Affiliated account has a fee. You’ll pay a monthly fee to use the account that’s affiliated with this debit card unless you meet eligibility criteria for a fee waiver.
• No online purchases. You won’t be able to use this HSBC Debit Card to shop online since it’s not affiliated with a credit card.
• No rewards. You won’t earn cashback or points whenever you spend money on your HSBC Debit Card.
• No access to credit. You can only spend money that’s already in your account, which means that the HSBC Debit Card isn’t suitable if you’re looking for access to credit.

What should I know before I apply?

Eligibility requirements

You won’t need to apply for an HSBC Debit Card because you’ll get one automatically if you meet the following criteria:

• You are a Canadian citizen, permanent resident or temporary resident of Canada.
• You have applied for an HSBC Advance Checking Account.

Required documents and information

To sign up for the HSBC Advance Account, you’ll need to provide the following:

• Your name, residential status and contact information
• Your Social Insurance Number and date of birth
• Your email address and phone number

How to apply

1. Visit HSBC’s main page to apply for the HSBC Advance Canada Checking Account.
2. Complete the application, which includes providing your name, email address, Social Insurance Number and birth date.
3. Review and submit your application.
4. Your HSBC Debit Card should come automatically included with your account once you sign up (so you won’t need a separate application).

Bottom line

The HSBC Debit Card is an everyday debit card that lets you spend money in-store and withdraw cash at ATMs. It doesn’t have any special features that are worth noting and it’s not affiliated with a credit card. This means you won’t be able to use it to shop online or to earn rewards when you make purchases. This card comes automatically included when you sign up for the HSBC Advance Checking Account.

Frequently asked questions about the HSBC Debit Card

• How does the HSBC Debit Card compare to other debit cards?

  The HSBC Debit Card is nothing special compared to other debit cards in its class. It offers few unique benefits and it isn’t affiliated with a credit card. This means you can’t use it to make online purchases or earn rewards for spending money on your card.

• Is the HSBC Advance Debit Card linked to a fee-free chequing account?

  The HSBC Advance Debit is linked to the HSBC Advance Checking Account. This account has strict eligibility requirements if you want to be eligible for no monthly fees. For example, you’ll only qualify for the fee-free version of this account if you keep a minimum of $5,000 in your account at all times or hold a minimum $150,000 mortgage with HSBC.

• Does this debit card let me earn points or cashback?

  Unfortunately, no. This debit card is a regular debit card so it doesn’t offer unique perks such as the ability to earn rewards such as points or cashback when you make purchases.

• Can I apply online?

  There’s no need to apply for an HSBC Advance Debit Card directly because it will come automatically included when you sign up for the HSBC Advance Checking Account. To sign up for any of HSBC’s accounts, you can visit the main HSBC website.