Last Chance to Transfer HSBC Rewards to Airline Partners

By the end of March 2024, RBC will have finished its acquisition of HSBC Canada, which includes transitioning HSBC cardholders to RBC products.

As part of the transition, HSBC Rewards points will be converted into RBC Avion points. RBC has yet to confirm the ratio it will use to convert HSBC Rewards to RBC Avion, although we’re hopeful that we’ll learn more about it in the very near future.

However, we now know that the last day to transfer HSBC Rewards to its three airline partners is February 29, 2024. Therefore, it’s worth taking stock of your transfer options with HSBC Rewards, as you’ll soon no longer be able to convert them into airline miles.

Last Chance to Convert HSBC Rewards to Airline Miles

February 29, 2024, marks the last day on which you can convert HSBC Rewards to miles in one of three airline loyalty programs.

After that, you won’t be able to transfer points into airline miles, and your HSBC Rewards points will eventually be converted into RBC Avion points at an undetermined ratio by the end of March 2024.

RBC has stated that the conversion will be at a comparable value; however, it’s still not clear what the ratio will be. We hope to learn more about the transfer ratio in the very near future.

As a reminder, HSBC Rewards has three airline loyalty programs as transfer partners, with the following ratios;

On the other hand, RBC Avion has four airline transfer partners, with the following ratios:

• American Airlines AAdvantage: 1,000 RBC Avion points = 700 AAdvantage miles
• British Airways Executive Club: 1,000 RBC Avion points = 1,000 Avios
• Cathay Pacific Asia Miles: 1,000 RBC Avion points = 1,000 Asia Miles
• WestJet Rewards: 1,000 RBC Avion points = 10 WestJet dollars

As you can see, British Airways Executive Club and Cathay Pacific Asia Miles are transfer partners with both programs, while Singapore Airlines KrisFlyer is unique to HSBC Rewards, and American Airlines AAdvantage and WestJet Rewards are unique to RBC Avion.

If you have a balance of HSBC Rewards points sitting in your account, it’s worth taking stock of your options now, as you can then make a decision by the end of the month.

By that point, we hope to have learned the conversion rate that RBC will use, which will make the decision of whether to convert your HSBC Rewards or hold onto them much clearer.

Should You Convert HSBC Rewards to Airline Miles Now?

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