HSBC Canada has an in-house rewards foreign money often known as HSBC Rewards. As with American Specific Membership Rewards or RBC Avion factors, HSBC Rewards is one other helpful transferable factors foreign money to have at your disposal.

As a reminder, transferable factors are extremely valued, since they’re versatile and will be redeemed in a wide range of methods. In Canada, HSBC Rewards will be transferred to 3 airline loyalty packages, together with British Airways Government Membership, Cathay Pacific Asia Miles, and Singapore Airways KrisFlyer.

When planning out a redemption, it’s necessary to be aware of the switch instances to numerous loyalty packages. On this information, we’ll check out how lengthy it takes in your HSBC Rewards factors to switch into airline companion packages.

Transferring Factors from HSBC Rewards

In Canada, there are three bank cards supplied by HSBC that earn HSBC Rewards factors: the HSBC +Rewards Mastercard, the HSBC World Elite Mastercard, and the HSBC Metallic World Elite Mastercard.

The three playing cards vary from a base-level card with no annual payment, to a top-tier card that’s solely obtainable to HSBC Non-public Banking Purchasers. By and huge, the most well-liked card for incomes HSBC Rewards factors is the HSBC World Elite Mastercard, a mid-tier product.

As with different transferable factors currencies, it’s finest to solely switch factors out of your account after getting a selected redemption in thoughts. It’s because transfers from HSBC Rewards are one-way solely, which signifies that you’re unable to get them again as soon as they’ve left your account.

In Canada, HSBC Rewards factors will be transferred into British Airways Government Membership, Cathay Pacific Asia Miles, and Singapore Airways KrisFlyer.

To provoke a switch, register to your HSBC Rewards account. As soon as there, choose the “Journey” dropdown menu, click on on “Rewards for Miles”, after which choose the companion program to which you’d prefer to switch factors.

Remember the fact that for all three companions, HSBC requires a minimal of 25,000 HSBC Rewards factors to provoke a switch, after which increments of 10,000 factors thereafter.

The beneath chart summarizes the estimated switch time as listed by HSBC, the life like switch time, the minimal switch quantity, and the switch ratio for every companion program. Additional down, we’ll go right into a bit extra element concerning the nuances of every loyalty program.

Transferring to British Airways Government Membership

HSBC Rewards factors switch to British Airways Government Membership, supplying you with entry to Oneworld airways.

The switch ratio is 25:10, which signifies that in the event you switch 25,000 HSBC Rewards, you’ll have 10,000 Avios arrive in your British Airways Government Membership account.

That is essentially the most beneficial switch ratio amongst the three HSBC Rewards switch companions; nonetheless, it’s price noting that it’s much less aggressive than with Amex MR or RBC Avion, which switch at a 1:1 ratio.

HSBC Canada says to permit for as much as 30 days for HSBC Rewards to land in your British Airways Government Membership account; nonetheless, you must see the factors arrive in your account inside every week at most.

Up to now, we’ve seen switch bonuses of as much as 30%. Throughout these occasions, the switch ratio would enhance to 25:13, as you’d wind up with 13,000 Avios in your British Airways Government Membership account after transferring 25,000 HSBC Rewards.

For those who’re capable of anticipate a switch bonus occasion, you’ll get one of the best bang in your buck.

Transferring to Cathay Pacific Asia Miles

As with American Specific Membership Rewards and RBC Avion, HSBC Rewards may switch to Cathay Pacific Asia Miles. With Asia Miles, you’ve entry to Oneworld airways, in addition to an elevated stock of Cathay Pacific award flights.

The switch ratio from HSBC Rewards to Cathay Pacific Asia Miles is 25:8, or 25,000 HSBC Rewards = 8,000 Asia Miles. In comparison with the 1:1 switch ratio with RBC Avion, and even the 1:0.75 switch ratio with Amex MR, that is certainly a much less aggressive price.

HSBC Canada lists a normal switch time of as much as 30 days; nonetheless, assuming the main points between each accounts line up, the factors needs to be in your Asia Miles account in round every week.

Remember the fact that Asia Miles is mostly extra strict than different packages relating to checking account particulars, so make sure that the data in each accounts matches precisely. If there are any discrepancies, your factors may very well be in limbo for longer than anticipated.

We’ve seen switch bonuses to Asia Miles of as much as 15% prior to now. This might enhance the switch ratio to 25:9.2, as you’d wind up with 9,200 Asia Miles when transferring 25,000 HSBC Rewards.

For those who’d prefer to redeem your HSBC Rewards factors for Asia Miles, it’s finest to attend for a switch bonus to spice up the switch ratio in your favour.

Transferring to Singapore Airways KrisFlyer

The third and last switch companion of HSBC Rewards is Singapore Airways KrisFlyer. In Canada, HSBC Rewards is the one transferable factors foreign money with direct entry to this system.

For those who’ve ever had your eyes on an aspirational flight in Singapore Airways First Class, KrisFlyer is the one program that can get you there.

The switch ratio from HSBC Rewards to Singapore Airways KrisFlyer miles is 25:9, which signifies that you’ll get 9,000 KrisFlyer miles for each 25,000 HSBC Rewards you switch.

As soon as once more, HSBC Canada means that transfers can take as much as 30 days; nonetheless, you’ll be able to anticipate the factors to reach in your KrisFlyer account inside every week.

On condition that Singapore Airways has long-haul enterprise class seats obtainable on Aeroplan, the worth proposition of its personal miles very a lot lies with First Class and Suites Class tickets. As there are not any different methods for Canadians to entry KrisFlyer’s personal loyalty program with out dabbling in US-issued bank cards, HSBC Rewards is the one possibility.

We’ve seen switch bonuses from HSBC Rewards to Singapore Airways KrisFlyer of as much as 15% prior to now, which might enhance the switch ratio to 25:10.35, or 25,000 HSBC Rewards = 10,350 KrisFlyer miles.

It’s price noting that KrisFlyer switch bonus occasions are comparatively uncommon in comparison with British Airways Government Membership or Cathay Pacific Asia Miles, however in the event you can make the most of one, it’s absolutely in your finest curiosity.

Remember the fact that KrisFlyer miles expire 36 months after they arrive in your account. Due to this fact, you’ll solely need to switch factors in when you’ve got a selected redemption in thoughts – in any other case, chances are you’ll wind up shedding out in the event you don’t use them in time.

On the plus aspect, Singapore Airways KrisFlyer permits award holds. Which means that in the event you discover a flight for which you’d prefer to redeem factors, you’ll be able to name KrisFlyer, place the award on maintain, after which switch factors in with out having to fret about shedding your seat.

Conclusion

HSBC Rewards is one other helpful transferable factors foreign money obtainable in Canada, with choices to redeem factors in three completely different airline loyalty packages.

Of those, maybe essentially the most intriguing is Singapore Airways KrisFlyer, because it’s the one direct pathway for Canadians to entry this system.

Transferring HSBC Rewards to British Airways Government Membership or Cathay Pacific Asia Miles is usually a helpful approach to prime up your account for a redemption, too.

It should take as much as every week in your HSBC Rewards factors to reach in any of the three packages. Simply remember to have a selected redemption in thoughts, make use of any switch bonus occasions, and make the most of award holds, when obtainable.