HSBC Step Up Promo - Part 2

[Mickey01]

Why +2 days and not +3days in March?
If 1Feb to 2Feb = 1days, then 1Feb to 28Feb = 27days right?

I am not sure that's why I am asking when to start counting Day 1

EOD 31 Jan 2025 - $50,000
EOD 1 Feb 2025 - $0 (withdraw $50,000 on 1st Feb). This is the day the account balance was reduce to $0. Is this Day #1 in the countdown?

 

[Mickey01]

TnC is causing a lot of confusion. This 30 days fresh funds is there in the TnC long long ago. If there is strict 30 days rule and disqualified EGA promo.. There will be complaints in this thread long ago.

The T&C of the promo was revised in Jul 2024 and the 30 day clause inserted. So it is fairly recent.

 

[maumu]

the tnc says "withdrawn and re-deposited within the last 30 days" so I take it as "no activity within the last 30 days" so for me I don't count the day I withdrew as Day 1, but Day 0.
Feb 1: withdraw (Day 0)
Feb 2: Day 1
Feb 28: Day 27
Mar 1: Day 28
Mar 3: Day 30
Mar 4: deposit

it may be interpreted differently by the bank. it would help a lot if the bank give an illustration / example, rather than depending on how one interpret the phrasing

 

[tiertime]

the tnc says "withdrawn and re-deposited within the last 30 days" so I take it as "no activity within the last 30 days" so for me I don't count the day I withdrew as Day 1, but Day 0.
Feb 1: withdraw (Day 0)
Feb 2: Day 1
Feb 28: Day 27
Mar 1: Day 28
Mar 3: Day 30
Mar 4: deposit

it may be interpreted differently by the bank. it would help a lot if the bank give an illustration / example, rather than depending on how one interpret the phrasing

Always can count on you to point out something we may not see

 

[maumu]

Always can count on you to point out something we may not see

dun suan me leh.. wait others say I'm making noise or creating confusion. I'm just trying to interpret the tnc based on my own understanding, which may be wrong.

anyways... from the advice and steps provided by the CSO on app chat, I already done several in/out movement the past 2 days in hope that I don't waste transferring in this month for the 2.9% + 1%. at least I got black and white from CSO chat so if anything goes wrong, I can appeal based on what the CSO said I can do.

can move on liao. but yes, lesson learnt.

 

[oceanicmanta]

dun suan me leh.. wait others say I'm making noise or creating confusion. I'm just trying to interpret the tnc based on my own understanding, which may be wrong.

anyways... from the advice and steps provided by the CSO on app chat, I already done several in/out movement the past 2 days in hope that I don't waste transferring in this month for the 2.9% + 1%. at least I got black and white from CSO chat so if anything goes wrong, I can appeal based on what the CSO said I can do.

can move on liao. but yes, lesson learnt.

how come that clause dont apply to the in/out over past 2 days ?

 

[tiertime]

dun suan me leh.. wait others say I'm making noise or creating confusion. I'm just trying to interpret the tnc based on my own understanding, which may be wrong.

anyways... from the advice and steps provided by the CSO on app chat, I already done several in/out movement the past 2 days in hope that I don't waste transferring in this month for the 2.9% + 1%. at least I got black and white from CSO chat so if anything goes wrong, I can appeal based on what the CSO said I can do.

can move on liao. but yes, lesson learnt.

I not suaning you... aiya, just ignore ppl saying wat....

coz there will always be ppl who 天塌下来当被盖 ...
When unpleasant things happen later on , at most say "how would I knw" and life continues

There is nothing to be confused if the bank didn't intentionally create the T&C in a confusing way in the 1st place

 

[F1ngolf2012]

how come that clause dont apply to the in/out over past 2 days ?

Bro, how come you also want to participate in the "noise" now?

 

[maumu]

how come that clause dont apply to the in/out over past 2 days ?

CSO explained that as long as your top up is more than the withdrawal, the difference is treated as fresh funds (for the past two days). subsequently they look at the daily end-day balance to compute interest.

so it depends on how you top up. say if you withdrew $200k and top up $200k, there'll be no fresh funds done. but if you top up $210k after withdrawing $200k, the $10k will be considered as fresh funds. then the next day onwards it'll follow the end-day balance.

I had deposited $x on 1 March.
After knowing that it was not considered fresh funds, I withdrew $x on 3 March.
The CSO then said I can top up $y on 4 March (where y > x), and then on 5 March I can top up $z, so that $(y+z) will be considered as fresh funds on 5 March.

"Top-up SGD xxx today and subsequently tomorrow, top up additional SGD yyy in the account. The total of SGD (xxx+yyy) will be consider as fresh fund on 05/03/2025."

tbh, I'm unclear how it works, but it's something to do with "subsequently will follow the end-day-balance of the account"

yes it's still confusing af.

 

[reflecx]

CSO explained that as long as your top up is more than the withdrawal, the difference is treated as fresh funds (for the past two days). subsequently they look at the daily end-day balance to compute interest.

so it depends on how you top up. say if you withdrew $200k and top up $200k, there'll be no fresh funds done. but if you top up $210k after withdrawing $200k, the $10k will be considered as fresh funds. then the next day onwards it'll follow the end-day balance.

I had deposited $x on 1 March.
After knowing that it was not considered fresh funds, I withdrew $x on 3 March.
The CSO then said I can top up $y on 4 March (where y > x), and then on 5 March I can top up $z, so that $(y+z) will be considered as fresh funds on 5 March.

"Top-up SGD xxx today and subsequently tomorrow, top up additional SGD yyy in the account. The total of SGD (xxx+yyy) will be consider as fresh fund on 05/03/2025."

tbh, I'm unclear how it works, but it's something to do with "subsequently will follow the end-day-balance of the account"

yes it's still confusing af.

I think CSO is saying that any money <=$x will only count as fresh funds after 30 days, simple as that. Ignore the top-up part as it just causes unneeded confusion.

the tnc says "withdrawn and re-deposited within the last 30 days" so I take it as "no activity within the last 30 days" so for me I don't count the day I withdrew as Day 1, but Day 0.
Feb 1: withdraw (Day 0)
Feb 2: Day 1
Feb 28: Day 27
Mar 1: Day 28
Mar 3: Day 30
Mar 4: deposit

it may be interpreted differently by the bank. it would help a lot if the bank give an illustration / example, rather than depending on how one interpret the phrasing

Sep and Nov both only have 30 days, and we didn't hear any complaints about missing bonus, so we can assume that it is safe to re-deposit on day 30.

 

[maumu]

...
Sep and Nov both only have 30 days, and we didn't hear any complaints about missing bonus, so we can assume that it is safe to re-deposit on day 30.

I did try to check back the calendar and discovered that:

1 Sep is a Sunday, so most people would have shifted funds either 31 Aug (Sat) or 2 Sep (Mon).
- if they withdrew on 31 Aug, and top up on 1 Oct, that's 30 days between (1 Sep to 30 Sep)
- if they withdrew on 2 Sep, and top up on 1 Oct, then yes that's less than 30 days and people who belonged to this group may not have received the BI (which is why I was asking @Daffy7 who joined the Oct-Dec promo when did she withdrew and re-deposit, because she claimed she didn't get the BI for October)

1 Nov is a Friday but 1 Dec is a Sunday, so people should have funded in on 2 Dec (Mon) and that's exactly 30 days in between (1 Nov and 2 Dec).

 

[reflecx]

I did try to check back the calendar and discovered that:

1 Sep is a Sunday, so most people would have shifted funds either 31 Aug (Sat) or 2 Sep (Mon).
- if they withdrew on 31 Aug, and top up on 1 Oct, that's 30 days between (1 Sep to 30 Sep)
- if they withdrew on 2 Sep, and top up on 1 Oct, then yes that's less than 30 days and people who belonged to this group may not have received the BI (which is why I was asking @Daffy7 who joined the Oct-Dec promo when did she withdrew and re-deposit, because she claimed she didn't get the BI for October)

1 Nov is a Friday but 1 Dec is a Sunday, so people should have funded in on 2 Dec (Mon) and that's exactly 30 days in between (1 Nov and 2 Dec).

You're right, I didn't check for Sundays. I myself withdrew on 31 Aug and re-deposited on 1 Oct. Didn't participate in the Dec-Jan promo.

 

[sglandscape]

The T&C of the promo was revised in Jul 2024 and the 30 day clause inserted. So it is fairly recent.

I won't count something 7 months ago as recent

 

[Mickey01]

I won't count something 7 months ago as recent

that's your point of view

This is the AI definition
Key points about "recent":

• No strict definition: There's no universally agreed upon number of months that defines "recent."
  
  
• Context matters: In casual conversation, "recent" might mean within the last week, while in academic research, it could refer to the last few years.
  
  
• Flexibility in usage: "Recent events" usually implies happenings within a relatively short period, without specifying an exact timeframe.

 

[shengliang1981]

1% bonus interest is in

 

[pearl_ml]

1 Sep is a Sunday, so most people would have shifted funds either 31 Aug (Sat) or 2 Sep (Mon).
- if they withdrew on 31 Aug, and top up on 1 Oct, that's 30 days between (1 Sep to 30 Sep)
- if they withdrew on 2 Sep, and top up on 1 Oct, then yes that's less than 30 days and people who belonged to this group may not have received the BI (which is why I was asking @Daffy7 who joined the Oct-Dec promo when did she withdrew and re-deposit, because she claimed she didn't get the BI for October)

Thanks for sharing, and I think most of us appreciate your explanation. If @Daffy7 can clarify on this, then the 30 day fresh funds rule is really being enforced, and we all need to be careful to avoid being disqualified.

 

[Daffy7]

1% bonus interest is in

This is for February?

 

[Daffy7]

Thanks for sharing, and I think most of us appreciate your explanation. If @Daffy7 can clarify on this, then the 30 day fresh funds rule is really being enforced, and we all need to be careful to avoid being disqualified.

I withdraw in Aug, funds in 7 Oct. More than 30 days.

 

[jesp15]

I back track all my previous ega bi, all meets 30 days(lucky) so I can't prove it wrong.
I did withdraw last Feb 1 and deposit again this Mar 1(<30 days).
Now I plan to withdraw again and park to other bank. Skip this month for peace of mind, ega promo until May anyway.
Better safe than nothing for me..

 

[pearl_ml]

I back track all my previous ega bi, all meets 30 days(lucky) so I can't prove it wrong.
I did withdraw last Feb 1 and deposit again this Mar 1(<30 days).
Now I plan to withdraw again and park to other bank. Skip this month for peace of mind, ega promo until May anyway.
Better safe than nothing for me..

Same for me. I'm going to skip March EGA and only participate in May EGA. kind of wasted the good interest rate for Mar due to the stupid TNC.