RBC’s Upcoming Transition of HSBC Rewards to RBC Avion Rewards

As first reported by Rewards Canada, there’s more information available about the upcoming transition from HSBC Rewards to RBC Avion Rewards. 

While the exact conversion rates are still not known, we have more insight into what we might expect, which can help you decide what to do with your existing HSBC Rewards balance.

More Details Regarding the HSBC Rewards to RBC Avion Rewards Transition

RBC has provided more insight into what customers can expect in the upcoming transition from HSBC Rewards to RBC Avion Rewards.

As a reminder, your HSBC Rewards points will be converted to RBC Avion Rewards points as part of RBC’s acquisition of HSBC Canada. The acquisition is set to be completed by the end of March 2024.

Previously, RBC has stated that the transfer will be at a comparable ratio, but has remained mum on the exact transfer ratio. Without knowing the rate at which your HSBC Rewards will be converted to RBC Avion Rewards, it’s been difficult to make a decision whether to redeem them now or wait for the conversion.

However, we now have some more insight into what cardholders can expect, and if it turns out to be the case, it should be sufficient to guide your decisions on whether to redeem now or wait.

First off, HSBC Canada customers won’t receive confirmation of the conversion value until after it’s taken place. 

This is because some cardholders will be transitioned to products that earn RBC Avion Elite points, while others will be transitioned to products that earn RBC Avion Premium points. It seems that there won’t be blanket conversion rates that apply to everyone, and rather, it will be unique to each cardholder’s situation.

Despite not knowing exact conversion values, there’s now more information available that should help guide your decision on whether to redeem your HSBC Rewards points now or to wait for the conversion, which we’ll discuss in detail below.

RBC has shared that HSBC Canada clients will receive “equal or greater value with their converted points based on flexible redemptions.”

As a reminder, HSBC Rewards can be flexibly redeemed against travel at a rate of 0.5 cents per point, while RBC Avion Elite points can be flexibly redeemed against travel at a rate of 1 cent per point.

Therefore, for those being transitioned from an HSBC product to…