HSBC Step Up Promo

Status
Not open for further replies.

tmkedmw

Arch-Supremacy Member
Joined
Feb 16, 2013
Messages
21,346
Reaction score
10,987
HSBC can't present the cheque for clearing till Monday. This means that the bank with the checking account have no idea that u had issued the check till Monday.
General question related to banking.

If check dated on Sat 7/7 given to HSBC on Sat at the road show, does the account which the chk is drawn from need to be funded since it will only be debited on Mon, ie. Fund the checking account on Mon 0001hrs.

Reason for asking is not to lose interest to the lower paying checking account over the weekend.

Thanks!
 

itchying

Senior Member
Joined
Dec 28, 2011
Messages
1,111
Reaction score
136
Hi

Can i clarify on the 90days lock in of 200k for welcome gift and voucher.

It means the ADB over 90days from the day your account is funded needs to be at least 200k?

Eg you put in 300k on 7 july and take out on 30 sep, which is 86days.

86days x 300k / 90days = $28666 daily balance. You havd fulfilled the requirement even though u took out 4 days earlier ?

Or can i take all fund for few days in september and put it back but the adb of september is still at least 200k?

Anyone know?
 
Last edited:

Squaredot

Arch-Supremacy Member
Joined
Feb 12, 2009
Messages
16,619
Reaction score
3,895
Hi

Can i clarify on the 90days lock in of 200k for welcome gift and voucher.

It means the ADB over 90days from the day your account is funded needs to be at least 200k?

Eg you put in 300k on 7 july and take out on 30 sep, which is 86days.

86days x 300k / 90days = $28666 daily balance. You havd fulfilled the requirement even though u took out 4 days earlier ?

Don't understand your calculation.

I read the T&C simply as "maintain min $200k for 90days".
So if u deposit $300k on 7 July 2018, u maintain $200k for 90days to 4 Oct 2018. U may withdraw $100k anyday.
 

itchying

Senior Member
Joined
Dec 28, 2011
Messages
1,111
Reaction score
136
Don't understand your calculation.

I read the T&C simply as "maintain min $200k for 90days".
So if u deposit $300k on 7 July 2018, u maintain $200k for 90days to 4 Oct 2018. U may withdraw $100k anyday.


I wish to take out all funds for a few days during the period and put all back in again.

For the welcome gift, there is clause saying for avoidance of doubt, the min fresh fund must be accompanied by an increase in customer tbr during the period to be least 200k.

When i opened the account, my rm told me u can take out and put back in as long as the tbr at the end of the mth is at least 200k is fine. I checked with cs also said that. Just want a confirmation from those who had done that. Thanks.
 

Squaredot

Arch-Supremacy Member
Joined
Feb 12, 2009
Messages
16,619
Reaction score
3,895
I wish to take out all funds for a few days during the period and put all back in again.

For the welcome gift, there is clause saying for avoidance of doubt, the min fresh fund must be accompanied by an increase in customer tbr during the period to be least 200k.

When i opened the account, my rm told me u can take out and put back in as long as the tbr at the end of the mth is at least 200k is fine. I checked with cs also said that. Just want a confirmation from those who had done that. Thanks.

oh i get what u mean now.
If min $200k during the lock-in period is based on ADB, your case seems fine. But I have not done that before :s13: my $200k just hibernated 90days inside the account :D
 

babyrobo

Arch-Supremacy Member
Joined
Aug 7, 2003
Messages
10,008
Reaction score
0
oh i get what u mean now.
If min $200k during the lock-in period is based on ADB, your case seems fine. But I have not done that before :s13: my $200k just hibernated 90days inside the account :D

will u / did u still get the $400 sign up gift if removed after 90 days? (keeping account open for 6 mths)
 

tiertime

Supremacy Member
Joined
Jan 20, 2011
Messages
6,446
Reaction score
678
If statement shows your cheque was deposited on 6 April, 90 days lock-in will count from 6 April.
Did you rec 25 days of bonus interest for April? If yes, u have fulfilled 90days lock-in liao

my 1.5% bonus interest received for month of
April - got it on 5th May
May - got it on 5th June
Jun - got it on 5th Jul

I transferred out everything on 5th July after i receive the 1.5%, as i assumed that day was my 91st day...

coz from the looks of my bank records, the cheque i gave to the bank on 6th April seemed to be successfully cleared on the Same day, i find that quite suprising as 6th Apr was a friday and submitted after the cheque clearing time...
 

tiertime

Supremacy Member
Joined
Jan 20, 2011
Messages
6,446
Reaction score
678
I wish to take out all funds for a few days during the period and put all back in again.

For the welcome gift, there is clause saying for avoidance of doubt, the min fresh fund must be accompanied by an increase in customer tbr during the period to be least 200k.

When i opened the account, my rm told me u can take out and put back in as long as the tbr at the end of the mth is at least 200k is fine. I checked with cs also said that. Just want a confirmation from those who had done that. Thanks.

i wouldnt risk it just in case the bank pointed out a term stating that we need to have the 200k in there at All times to be able to receive the welcome gift...

besides i noticed that different RM can give different opinions e.g. some of them said can do more than 3 referrals and get the referral fee and some said cannot :s8:

but why would u want to take out the funds for a few days...? :s11:
 

shengliang1981

Senior Member
Joined
Nov 5, 2007
Messages
2,196
Reaction score
63
Hi

May I know what you mean? Is it for new customer or existing customer?

Thanks.

For example, if your account balance was $0 and you topup $200k on 6 July, your ADB for July will be $168k which is less than $200k and may be imposed $50 fall below charge the following month.
 

fuschia

Senior Member
Joined
Aug 20, 2008
Messages
1,206
Reaction score
0
For example, if your account balance was $0 and you topup $200k on 6 July, your ADB for July will be $168k which is less than $200k and may be imposed $50 fall below charge the following month.

Noted thanks. So it is to ensure we meet the min ADB to avoid fall below charge.
 

itchying

Senior Member
Joined
Dec 28, 2011
Messages
1,111
Reaction score
136
i wouldnt risk it just in case the bank pointed out a term stating that we need to have the 200k in there at All times to be able to receive the welcome gift...

besides i noticed that different RM can give different opinions e.g. some of them said can do more than 3 referrals and get the referral fee and some said cannot :s8:

but why would u want to take out the funds for a few days...? :s11:

Need to show other bank the fund for loan.
 

Xasteria

Senior Member
Joined
Oct 30, 2008
Messages
692
Reaction score
0
Can check if I top-up my ezlink or Nets Flashpay is consider within the $800 since using visa also?
 

Jazzbie

Senior Member
Joined
Jul 15, 2005
Messages
2,159
Reaction score
14
After we submitted the registration online for the current promo, are we supposed to wait for any confirmation? Or can just straight away FAST in fresh funds?
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top