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HSBC Step Up Promo

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Old 06-10-2016, 09:57 AM   #16
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I wonder whether we need to do "in and out" of Advance like eSaver. Or maybe 1 period Advance another period eSaver (since it is uncertain if you can have 2 Advance account)
for hsbc, it's 3 months of bonus interests followed by one month for cooling off. less frequency in funds movement required compared to esaver. also, hsbc doesnt have tiered bonus rates.
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Old 06-10-2016, 11:30 AM   #17
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Thanks for the information.

Are you saying that if I take advantage of this promotion, I will have to do this:

(a) Deposit funds into HSBC Advance now (Oct 2016)
(b) Get interest from Oct to Dec 2016
(c) Withdraw funds for in Jan 2017 (cooling off month?)
(d) Deposit funds in Feb 2017 (likely start of next promotion?)

Is that how it works?

for hsbc, it's 3 months of bonus interests followed by one month for cooling off. less frequency in funds movement required compared to esaver. also, hsbc doesnt have tiered bonus rates.
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Old 06-10-2016, 11:41 AM   #18
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for hsbc, it's 3 months of bonus interests followed by one month for cooling off. less frequency in funds movement required compared to esaver. also, hsbc doesnt have tiered bonus rates.
hello kitkat,

Do you have any idea the Bonus is only payable for the incremental deposit for that month or across all 3 months?
for eg. SEPT- 30K balance.
OCT - 60K balance.
NOV - 60K balance.
DEC- 60K balance
would the bonus 1.5% only be paid for the increased 30K in OCT and base interest only for NOV & DEC or across all 3 months?

TIA
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Old 06-10-2016, 01:05 PM   #19
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hello kitkat,

Do you have any idea the Bonus is only payable for the incremental deposit for that month or across all 3 months?
for eg. SEPT- 30K balance.
OCT - 60K balance.
NOV - 60K balance.
DEC- 60K balance
would the bonus 1.5% only be paid for the increased 30K in OCT and base interest only for NOV & DEC or across all 3 months?

TIA
1.5% on incremental balance for all 3 months.
Remember to register for promo if u r an existing acct holder.
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Old 06-10-2016, 03:30 PM   #20
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Thanks for the information.

Are you saying that if I take advantage of this promotion, I will have to do this:

(a) Deposit funds into HSBC Advance now (Oct 2016)
(b) Get interest from Oct to Dec 2016
(c) Withdraw funds for in Jan 2017 (cooling off month?)
(d) Deposit funds in Feb 2017 (likely start of next promotion?)

Is that how it works?
yes, precisely. i have been doing exactly this.

they seem to run promotion every month and the reference month is always the preceeding month.
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Old 06-10-2016, 03:34 PM   #21
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hello kitkat,

Do you have any idea the Bonus is only payable for the incremental deposit for that month or across all 3 months?
for eg. SEPT- 30K balance.
OCT - 60K balance.
NOV - 60K balance.
DEC- 60K balance
would the bonus 1.5% only be paid for the increased 30K in OCT and base interest only for NOV & DEC or across all 3 months?

TIA
bonus interest for an eligible month is paid on the incremental difference between the adb of the month and the adb of the reference month.

for eg,

for december, it would be adb for december minus the adb for september.
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Old 06-10-2016, 03:49 PM   #22
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Thanks Kitkat, so basically it runs in cycles of (3 + 1 month) each time? Cos you said "every month".

yes, precisely. i have been doing exactly this.

they seem to run promotion every month and the reference month is always the preceeding month.
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Old 06-10-2016, 04:35 PM   #23
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Thanks Kitkat, so basically it runs in cycles of (3 + 1 month) each time? Cos you said "every month".
ok, i think my memory is failing. during the previous promo, i got bonus interest for june, july, and august and i emptied my account for september. so i incorrectly thought the reference month was may and that it ran every month.

now i think it's being run in 3-month cycles, eg, jan-mar, apr-jun, jul-sep and oct-dec with the reference month being the month preceeding the start of the cycle. you can sign up for the promo any time during the 3 month period, and you will be eligible for bonus for the signup month plus 2 successive months.

so, for the previous promo, i signed up on june and actually took part in the april to june promo cycle with the reference month being march.

confusing hur?!
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Old 06-10-2016, 05:08 PM   #24
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Hmm now I'm confused. So there's no more "cooling" month anymore? If that's the case, when do you take out the funds so that the balance will be zero and ready for the next round?


ok, i think my memory is failing. during the previous promo, i got bonus interest for june, july, and august and i emptied my account for september. so i incorrectly thought the reference month was may and that it ran every month.

now i think it's being run in 3-month cycles, eg, jan-mar, apr-jun, jul-sep and oct-dec with the reference month being the month preceeding the start of the cycle. you can sign up for the promo any time during the 3 month period, and you will be eligible for bonus for the signup month plus 2 successive months.

so, for the previous promo, i signed up on june and actually took part in the april to june promo cycle with the reference month being march.

confusing hur?!
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Old 06-10-2016, 05:29 PM   #25
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this promo would be worth it if hsbc did not cap the bonus interest at first $100k...then the balance $100k wont be at 1.55% only
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Old 06-10-2016, 05:29 PM   #26
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Hmm now I'm confused. So there's no more "cooling" month anymore? If that's the case, when do you take out the funds so that the balance will be zero and ready for the next round?
my advice is to cool off during the reference months, ie march, june, september and december.

for this round, get bonus for october and november, and then move all your funds out by december 1st. keep repeating this and you basically receive 2 months of bonus with one cooling month.
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Old 06-10-2016, 05:59 PM   #27
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Okay got it. Or I could also rotate with eSaver for maximum gains.

my advice is to cool off during the reference months, ie march, june, september and december.

for this round, get bonus for october and november, and then move all your funds out by december 1st. keep repeating this and you basically receive 2 months of bonus with one cooling month.
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Old 06-10-2016, 08:51 PM   #28
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how come HSBC call center say 200K only get 0.1% interest?

Can post the link to this?

Min amount for new Premier = 200k
First 100k gets 2.25% (1.55% + 0.7% with $500 debit card spend)
Remaining up to 1.1m gets 1.55%
Base interest is tiered ... around 0.06% pa depending on amount placed

Effective interest for 200k is about 1.96%

The higher the amount placed, the lower the EIR.

Current referral rewards & Welcome Rewards are 2 CX Econ tics to HK (tax not included). Some periods change to RWS hotel stay. Need to hold 200k for 90 days.

New clients auto included in above promo. Existing clients must register.

All the above subject to other T&C's.
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Old 06-10-2016, 08:55 PM   #29
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how come HSBC call center say 200K only get 0.1% interest?

Can post the link to this?
Pls see first post

have updated the various links
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Old 06-10-2016, 10:57 PM   #30
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1.5% on incremental balance for all 3 months.
Remember to register for promo if u r an existing acct holder.
Means if new account I just leave the money inside for 3months to get 1.5% don't need to top up? But close account have $50 charges?
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