HSBC Canada launches HSBC EasyID to simplify online credit card and chequing account applications.
HSBC Bank Canada aims to differentiate itself from the competition in Canada by offering unique products such as:
- HSBC World Elite® Mastercard®: one of the only credit cards in Canada with no FX-fee, offering a $100 travel credit each year and up to 6 points per dollar for travel
- The HSBC +Rewards™ Mastercard®: one of the few credit cards offering both rewards and a low interest-rate
- HSBC Premier and HSBC Advance chequing accounts, perfect for international customers
However, a recurring problem was the need for many new customers to visit an HSBC branch for an identity verification process.
This process is common for most institutions in Canada to prevent any risk of fraud related to online applications. Although inconvenient, this process was only a formality for residents of large urban areas such as Montreal, Quebec City, Ottawa, Vancouver, Toronto, etc., with HSBC branches.
However, we have seen members of the Milesopedia Facebook group being much more embarrassed: the nearest branch being several hundred kilometres away!
The HSBC EasyID process
Now, the process of opening an account online, whether for a credit card or a chequing account, will be greatly simplified with HSBC EasyID.
HSBC EasyID provides instant identity verification. Before you start, you’ll need to have one of the following pieces of I.D. on-hand (make sure the I.D you are using hasn’t expired):
- Driver’s license
- Provincial government Issued I.D.
Next, here is the HSBC EasyID application process – when applying for the HSBC World Elite® Mastercard® for example:
- You will start by entering your information
- If you do not apply from your mobile phone, you’ll then be asked to switch to your mobile phone to continue your application by validating your identity with one of the pieces of I.D above
- You will take a picture of your ID with your mobile phone
- You will take a selfie or a short video
- You will then be sent back to your computer (or can continue the application from your mobile phone) to answer a few more questions
HSBC Canada told us that the HSBC EasyID process would be available to as many people as possible. However, in exceptional cases, a branch visit cannot be avoided.
Current HSBC offers
HSBC World Elite® Mastercard®
The HSBC World Elite® Mastercard® is a great credit card with no foreign transaction fees, especially for travel purchases.
For a limited time, you can get:
- Up to 100,000 points (a $500 value in travel rewards) if you live in Quebec
- Up to 70,000 points (a $350 value in travel rewards) and a first-year annual fee waiver if you live outside Quebec
With the HSBC World Elite® Mastercard®,you earn:
- 6 points per dollar for travel purchases (flights, hotels, Airbnb, all-inclusive, etc.)
- 3 points per dollar for all other purchases
It’s a 1% to 3% value depending on your purchases!
You can apply your points on any travel purchase charged to your HSBC World Elite® Mastercard® (flights, hotels, Airbnb, all-inclusive, etc.). But you can also transfer your points to three airline loyalty programs: British Airways Executive Club, Asia Miles and Singapore Airlines Krisflyer.
Finally, with the HSBC World Elite® Mastercard® you get:
- $100 annual travel credit (for airport lounges, for example)
- Unlimited access to Boingo WiFi hotspots around the world
- 10% discount for hotel bookings on Expedia or Agoda
- Premium insurance for your travels and purchases
Finally, the HSBC World Elite® Mastercard® does not charge any conversion fees for foreign exchange transactions: you save 2.5% for each transaction.
And it’s one of the best credit cards for Costco, where you earn 3 points per dollar.
HSBC +Rewards™ Mastercard®
The HSBC +Rewards™ Mastercard® is a credit card offering rewards and a low-interest rate (11.9%).
With the HSBC MastercardMD + Rewards Card, you can earn :
- 2 points per dollar on eligible dining or entertainment purchases
- 1 point per dollar for all other purchases
This credit card is one of the only ones in Canada to offer a Price Protection Service: find a lower price within 60 days of your purchase, the difference will be refunded, up to $500 per eligible item!
For a limited time, you can get:
- 25,000 points (a $125 value in travel rewards) if you live in Quebec
- 20,000 points (a $100 value in travel rewards) and a first-year annual fee waiver if you live outside Quebec