HSBC Step Up Promo

[eliteFX]

I thought no remittance fee?

I read remittance fee is free for premier customers only.

 

[leesn74]

The overseas remittance criteria is not bad. Assuming a fee of $25, you get $60 in interest. Nett earn $35

This means that you can get step up bonus and debit spend interest of:-
$3712.60 per year
$488 reward bonus at aro 7th months
Remittance bonus interest of
$546 per year

Potential gain per year is $4750.60 which is what I am seeing, approximately 2.38% overall.

#remittance fee is NA for premier customers

 

[tiertime]

This means that you can get step up bonus and debit spend interest of:-
$3712.60 per year
$488 reward bonus at aro 7th months
Remittance bonus interest of
$546 per year

Potential gain per year is $4750.60 which is what I am seeing, approximately 2.38% overall.

#remittance fee is NA for premier customers

Hi, why r u calculating interest for per year? the bonus interest is only for 3 months..

I read remittance fee is free for premier customers only.

Can i know where did u read this? any link?

i just called the CSO, and she said the remittence should only be done online to qualify and it cost $35 from HSBC, and still have to factor in the fee that the receiving bank will impose....

Received mixed info on remittence bonus interest credit
some RM told me its only for 1 month and another told me the 0.73% is applicable for Jan, Feb and March...


Received mixed info on sign up gift $488
And to confirm able to get the $488 sign up gift, u have to fulfill BOTH of these citerias:
(1) must deposit min $200K for 90 days
(2) must deposit min $200K for 3 FULL consecutive months, meaning FEB, March and APRIL - which means can only remove the $200K by 1st May!?

can someone verify the above again, i've asked a few times and sometimes they tell me abt this clause (2) and other times they don't even mention...

 

[jovialger]

This means that you can get step up bonus and debit spend interest of:-
$3712.60 per year
$488 reward bonus at aro 7th months
Remittance bonus interest of
$546 per year

Potential gain per year is $4750.60 which is what I am seeing, approximately 2.38% overall.

#remittance fee is NA for premier customers

You missed out another $200 cash for spending $600 on the new Premier credit card in the first month

 

[johanyu]

Base rate is 0.1% for premier? Of course if you have 2 premier accounts to cycle around every 2 months, then you win.

If not, it beats an Advance account holder of 1.45% bonus and 0.025% (base for >$50k). In addition to being Advance/Premier and enjoying the debit benefits, some spare funds can be parked here for no hassle 1 year 1.55%.

Just a discussion anyway. I am still evaluating.

is this account is just based on the "reference month", or also need to be "fresh fund"
If I move $ from my account from HSBC to my wife account, will she qualify for the higher interest rate?
Because SCB have to be fresh fund, and the source not from SCB

 

[vddgnd]

is this account is just based on the "reference month", or also need to be "fresh fund"
If I move $ from my account from HSBC to my wife account, will she qualify for the higher interest rate?
Because SCB have to be fresh fund, and the source not from SCB

Fresh fund not from another HSBC account

 

[babyrobo]

Do existing advance customers qualify then based on the above t&c?

 

[Squaredot]

Can i know where did u read this? any link?

i just called the CSO, and she said the remittence should only be done online to qualify and it cost $35 from HSBC, and still have to factor in the fee that the receiving bank will impose....

Received mixed info on remittence bonus interest credit
some RM told me its only for 1 month and another told me the 0.73% is applicable for Jan, Feb and March...

Remittance promotion T&C

https://www.hsbc.com.sg/1/PA_ES_Content_Mgmt/content/singapore/hsbcpremier/htm/promo/premier2014/displays/pdf/hsbc_january_to_march_18_remittance_campaign_tcs.pdf


It looks complex to me

 

[Sausage]

can i check exactly when i should start transferring the $200,000 in? I already filled up the registration website, i got an automated email saying thank you. But do Ineed to wait for any other email?

 

[tmkedmw]

can i check exactly when i should start transferring the $200,000 in? I already filled up the registration website, i got an automated email saying thank you. But do Ineed to wait for any other email?

if u are new to hsbc, u don't need to fill up the registration website. Participation via the registration website is for existing premier customer whom will rec'd an acknowledgement email from hsbc and that's all, no more emails.

In other words, if your newly setup account is there, u can start to xfer in.

 

[mdax23]

Bonus jit le ma? Anyone

 

[Squaredot]

Bonus jit le ma? Anyone

My previous Sep to Nov cycle SU bonus interest were credited quickly on the 2nd of following month.

Currently in Dec to Feb promo, seems crediting of SU interest is back snail mode??

 

[zeroX26]

Would like to kindly check for 1 to be eligible for the 0.95% debit card spending, must I spend $500 for each month across the 3 months I signed up for or the bonus interest is specific to the month of the expenditure? I.e., I signed up for Nov - Jan but for Nov & Dec, I did not spend $500. However, for Jan, Im able to do so, will I get the 0.95% bonus interest for Jan then?

2nd question: does insurance payment via AXS qualify for the $500 spending?

 

[tmkedmw]

Would like to kindly check for 1 to be eligible for the 0.95% debit card spending, must I spend $500 for each month across the 3 months I signed up for or the bonus interest is specific to the month of the expenditure? I.e., I signed up for Nov - Jan but for Nov & Dec, I did not spend $500. However, for Jan, Im able to do so, will I get the 0.95% bonus interest for Jan then?

2nd question: does insurance payment via AXS qualify for the $500 spending?

Every month is considered individually. if u had spent $500 for Jan (transaction dates within the calendar month of Jan), then yes, u qualify, irrespective of what happened in the preceding months.

insurance payment via AXS... don't really know. Key is does AXS offers you the option of hsbc VISA debit card for payment?

Also look at the online account thru' internet banking, all the debit card qualifying transactions should have the word ELECTRO in the 2nd line.

 

[tmkedmw]

After reading the remittance tncs,
there are some unknowns in such transfers, and one could end up with:

either all the fees add up to close or greater than the 0.75% additional interest,
or your transfer wasn't successful and still need to bear some cost.

 

[tiertime]

After reading the remittance tncs,
there are some unknowns in such transfers, and one could end up with:

either all the fees add up to close or greater than the 0.75% additional interest,
or your transfer wasn't successful and still need to bear some cost.

someone said its free for premier members, i think the receiving party will still impose a charge....

cosidering this, it may not be worth the effort to do remittence if the intention is just to get the 0.73% bonus interest..

 

[tmkedmw]

someone said its free for premier members, i think the receiving party will still impose a charge....

cosidering this, it may not be worth the effort to do remittence if the intention is just to get the 0.73% bonus interest..

free for premier is only for the sending bank, hsbc.

the intermediary/intermediaries and the receiving bank can have fees too, and these are unknown.

while hsbc say $1 can remit, the receiving bank, may, in my imagination, say "huh! $1 only but I charged u $30 as fee" then how?

perhaps someone with more knowledge of TT transactions can comment.

 

[NTTDoCoMo]

Step Up interest is in for Nov-Jan Cycle

 

[tmkedmw]

Step Up interest is in for Nov-Jan Cycle

Yep, for the above cycle, 1.55% stepup int for month of Dec is now in.

 

[Squaredot]

SU bonus interest for Dec-Feb cycle credited!