HSBC Step Up Promo - Part 2

[jseyong]

thanks edwin and trazora. WIll have to scrutinize next month and the following month's statements then

 

[edwinksl]

thanks edwin and trazora. WIll have to scrutinize next month and the following month's statements then

If in doubt, when you get your bills/statements, check with your bank's CSO (either through online chat or phone call) and ask if GIRO arrangement with HSBC account is set up. I do that a lot because not all bills will explicitly say payment is via GIRO.

 

[Jirachi]

My friend applied for the EGA account online on 30 Mar, received the debit card yesterday.

I just got the Debit Card in the manage card section.

 

[Jirachi]

1. Additional interest (“Bonus Interest”) on the Top-up Amount (as defined below) at the rates set out in the table below (“Bonus Interest Rate”), subject to a minimum Top-up Amount of S$1 and a maximum Top-up Amount of S$2,000,000.

I kept reading this clause and wondering if they count the 4.35% on the top-up amount for that month only. Assume that I withdraw the top-up amount after the top-up in the same month, does it still count?

Would like some confirmation from you guys to see if the understanding is correct with this English.

 

[jseyong]

If in doubt, when you get your bills/statements, check with your bank's CSO (either through online chat or phone call) and ask if GIRO arrangement with HSBC account is set up. I do that a lot because not all bills will explicitly say payment is via GIRO.

Thanks! From your experience, does HSBC always SMS us once GIRO is set up?

 

[edwinksl]

Thanks! From your experience, does HSBC always SMS us once GIRO is set up?

Yes I got a SMS from HSBC for every successful GIRO arrangement that I set up. Then after that, I would chat or call with the bank's (e.g. DBS) CSO to confirm the next statement would be paid via GIRO from my HSBC EGA.

 

[wira]

anyone knows ...
my dbs cc bill is due end Apr. HSBC still processing my giro arrangement.
if hsbc approve the giro next few days, will my DBS CC bill this mth be paid via GIRO or i need to pay myself ?

else bit wasted as my cc bill this mth is quite high and will miss out on the potential 1% cashback

 

[edwinksl]

anyone knows ...
my dbs cc bill is due end Apr. HSBC still processing my giro arrangement.
if hsbc approve the giro next few days, will my DBS CC bill this mth be paid via GIRO or i need to pay myself ?

Likely still need to pay yourself this month and the GIRO is likely effective for next statement.

 

[Jirachi]

anyone knows ...
my dbs cc bill is due end Apr. HSBC still processing my giro arrangement.
if hsbc approve the giro next few days, will my DBS CC bill this mth be paid via GIRO or i need to pay myself ?

else bit wasted as my cc bill this mth is quite high and will miss out on the potential 1% cashback

Likely pay yourself.

 

[maumu]

to those who're eagerly waiting for giro to take effect... can tell you that even though the bank or the merchant is to send you any notice in writing, it'll not guarantee that the first deduction will happen after you get the letter of notice.

it may fail and only successful the next month onwards because at the end of the day, whether the deduction happens depends on the time the merchant triggers the charge and also depends how fast the bank takes to respond to the charge by the merchant.

which is why they always say it takes up to 2 months to see the effective deduction. so... just standby for that first month that it may not actually take place (the giro) via HSBC.

 

[BlackTortoise]

I just got the Debit Card in the manage card section.

Debit card got what benefits? Do we earn 1% from the spending on debit card?

 

[jseyong]

If in doubt, when you get your bills/statements, check with your bank's CSO (either through online chat or phone call) and ask if GIRO arrangement with HSBC account is set up. I do that a lot because not all bills will explicitly say payment is via GIRO.

Strange. For IRAS, I only received SMS from IRAS but not HSBC. Payment plan on IRAS website also shows next deduction from HSBC already.

Did HSBC SMS you about successful IRAS set-up via EGA?

 

[Jirachi]

Debit card got what benefits? Do we earn 1% from the spending on debit card?

No idea. They just asked me if I want it when I opened the account.

 

[Jirachi]

I kept reading this clause and wondering if they count the 4.35% on the top-up amount for that month only. Assume that I withdraw the top-up amount after the top-up in the same month, does it still count?

Would like some confirmation from you guys to see if the understanding is correct with this English.

Would appreciate if someone has an answer for this!

 

[oceanicmanta]

I kept reading this clause and wondering if they count the 4.35% on the top-up amount for that month only. Assume that I withdraw the top-up amount after the top-up in the same month, does it still count?

Would like some confirmation from you guys to see if the understanding is correct with this English.

not sure i understand your concern

the 4.35% bonus interest is based on Incremental ADB over the Reference Month ADB

so yes, the top up amount will earn Bonus Interest for the days/months it is in the account, provided there is incremental balance over Ref Mth

 

[miloaisdino]

I received the sms just now saying '...from now until 31 may...' will get the 1% cashback blah blah blah...

T&C says it's 'the day after the date meeting the criteria...'

So in this case it's starting now (today) or a few days before when I've done the 2000/5x (because I've already started using the debit card)?

hi could i ask how much u did for the fast transfer? I did 5x $1 transfer via FAST but didnt get any sms from hsbc.. thanks

 

[oceanicmanta]

hi could i ask how much u did for the fast transfer? I did 5x $1 transfer via FAST but didnt get any sms from hsbc.. thanks

it is not immediate

wait a few days

assumed u also did the Transfer In of relevant amount

 

[jseyong]

Does HSBC usually SMS about successful IRAS set-up via EGA?

 

[miloaisdino]

it is not immediate

wait a few days

assumed u also did the Transfer In of relevant amount

yes i did, (Initial deposit exceed $2k alr)
thanks!

 

[wutawa]

I kept reading this clause and wondering if they count the 4.35% on the top-up amount for that month only. Assume that I withdraw the top-up amount after the top-up in the same month, does it still count?

Would like some confirmation from you guys to see if the understanding is correct with this English.

Average daily balance means they will compute the balance daily and average out for the mth (point 6 in the tnc: the definition for Top-up Amount). Withdrawing the top up will reduce your adb lor