HSBC Step Up Promo

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cybercom8

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for those who signed up individual premier for may jun and jul and withdraw money end jul and sign up joint account in aug, likely will not have fall below fee right for the individual accts since the aug joint account will be funded.
 

tmkedmw

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i received end jul already feel its very late. you just received on aug 2??

newjungle is saying his July bonus interest is credited on 2 Aug.

whereas yours is May bonus interest credited late Jul.
 

tmkedmw

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for those who signed up individual premier for may jun and jul and withdraw money end jul and sign up joint account in aug, likely will not have fall below fee right for the individual accts since the aug joint account will be funded.

If u have emptied your individual account(s) end Jul, there's nothing to worry about fall below fee.

If u want to know how TRB are calculated, pls refer to my post about a day or two ago, the one with A, B and A+B.
 

oceanicmanta

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I did not receive "Credit Bonus Interest Promotion" on 2 Aug. Hmm..

My promo is May Jun Jul. Emptied out on Aug 2nd. Got the "STEP UP BONUS INTEREST FOR 05/2017 on 24 Jul. Am i missing something?

Nothing wrong.

If u had not sign up for Jul promo (Jul to Sep), then you wld not get the 2 Aug credit.

if u signed up for Aug promo, hopefully can get bonus interest credited on 2 Sep.:)
 

S1mpleGuy

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A new account normally will not incur a fall below fee as u built it up to $200k, especially when u show that max daily xfer from other banks is constrained to $100k/day.

As you are new to premier, you have to visit a bank branch, might as well present a cheque for $200k at one go. If no checking acct, can get a cashiers order. In that way, u enjoy the 1.55% interest on the full $200k faster.

Edit: forgotten to mention that being a new account, u need to maintain $200k for 90 calendar days to qualify for the awards/gifts. Starting acct with a full $200k is the recommended way to go.
But if i prefer a fast transaction with such scenario i am confused: - day1 50k day2 100k day3 150k day4 till day 90 200k. Not sure if i wil qualify for welcome rewards and referral gifts if i withdraw on day 91 since my adb is not 200k. Anybody with similar experiences?
 

arctician

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But if i prefer a fast transaction with such scenario i am confused: - day1 50k day2 100k day3 150k day4 till day 90 200k. Not sure if i wil qualify for welcome rewards and referral gifts if i withdraw on day 91 since my adb is not 200k. Anybody with similar experiences?

nope dont think u can qualify, tnc already said must bring in fresh funds of $200K, why risk the uncertainty if you can avoid it? i will nvr risk it even if someone here tells me yes
 

oceanicmanta

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But if i prefer a fast transaction with such scenario i am confused: - day1 50k day2 100k day3 150k day4 till day 90 200k. Not sure if i wil qualify for welcome rewards and referral gifts if i withdraw on day 91 since my adb is not 200k. Anybody with similar experiences?

it happened to me. My very first month
Day 1 - 0
Day 2 to 29 - 200k
Day 30 - 199.5k bcos forgot about the $500 spend on Debit Card
Mth 2 - 200k
Mth 3 - 200k
Day 91 - 0

no fall below fee on Mth 1 & got the welcome gift

I dont think they compute ABD over 90days, but monthly.

I think if u kept account funded with 200k over almost entire 90 days, then shld not be problem.

But if you open on last day of Month 1, then withdraw on 1st day of Month 3 (effectively 61 days), then maybe different story.

Not advocating it will be ok. Just sharing what happened in my case.
 
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jovialger

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But if i prefer a fast transaction with such scenario i am confused: - day1 50k day2 100k day3 150k day4 till day 90 200k. Not sure if i wil qualify for welcome rewards and referral gifts if i withdraw on day 91 since my adb is not 200k. Anybody with similar experiences?

Your 90 consecutive days start from the day u have $200k. Meaning from day 4. So safe to withdraw from day 95 I guess
 

newjungle

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Nothing wrong.

If u had not sign up for Jul promo (Jul to Sep), then you wld not get the 2 Aug credit.

if u signed up for Aug promo, hopefully can get bonus interest credited on 2 Sep.:)

I think the quick payout for pp who sign up for July step-up promo is because bonus interest is tied to debit card spending of $500. No need to wait for cc settlement like previous months.
 

oceanicmanta

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I think the quick payout for pp who sign up for July step-up promo is because bonus interest is tied to debit card spending of $500. No need to wait for cc settlement like previous months.

no lah, this bonus interest is for the 1.55% Step Up, not the 0.7% Debit bonus
 

hgyeoj

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Hi, do u mind elaborating more on this pls? Thank u very much!

There had been many previous cycles with different joining months. Some would have zero balance and just got interest credited from whatever earlier months.
 

eosfoto

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Anyone successfully got both the referral and welcome gift? Jz curious.

u will only know if u can successfully get the referral on 28 Feb.


Reminder for ppl who opened their accounts with the min sum of 200K, if u use ur DEBIT card it will deduct directly from ur account... i am not sure what penalty they will issue apart from the $50 fall below fee... but for sure they will use this as an excuse not to give u your $400 in Feb 2018...

Do Note! :s12:
 

tmkedmw

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Hi, do u mind elaborating more on this pls? Thank u very much!

See example of cybercom8 and eden_guards.
Theirs is May, Jun, Jul cycle and they did not rec'd their bonus interest due for the month of Jul on 2 Aug.

Others like oceanicmanta and newjungle are on different cycle and they rec'd their bonus interest due for the month of Jul on 2 Aug.

Take note that as per hsbc tnc, bonus interest due for the month of Jul can be paid as late as end Sep, that is why they express pleasant surprise on receiving them so early on 2 Aug, merely 2 days after July month end.
 

newjungle

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I tried using the debit card on AXS station for payment of SP bill, but it couldn't go through. My debit card is chip-based, and my pin is correct. What is missing?
 

tmkedmw

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Anyone successfully got both the referral and welcome gift? Jz curious.


Welcome gift goes to the person who is new to hsbc and opens a new account.
Referral rewards goes to the person who refers u to open the account.

If u are talking about roadshow gift, then yes, person who opens the account gets the roadshow gift, irrespective of whether the person is being referred by someone or not. If being referred, the person's referrer will get the referral award.

Bottom line,
Open new account, got welcome reward(approx 6-7mths) + roadshow gift (same day at the roadshow)

If being referred to open new acct, referrer got referral reward after approx 6-7 months.
 
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tmkedmw

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I tried using the debit card on AXS station for payment of SP bill, but it couldn't go through. My debit card is chip-based, and my pin is correct. What is missing?

I wld suggest u call SP customer service and ask them whether they accept visa debit card for paying their bills thru AXS. From what I know, they don't.
 
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hgyeoj

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Thx! My question is confusing.

Welcome gift goes to the person who is new to hsbc and opens a new account.
Referral rewards goes to the person who refers u to open the account.

If u are talking about roadshow gift, then yes, person who opens the account gets the roadshow gift, irrespective of whether the person is being referred by someone or not. If being referred, the person's referrer will get the referral award.

Bottom line,
Open new account, got welcome reward(approx 6-7mths) + roadshow gift (same day at the roadshow)

If being referred to open new acct, referrer got referral reward after approx 6-7 months.
 
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