HSBC Step Up Promo - Part 2

[Mickey01]

The website states April EGA is giving
2.8 + 0.05 + 1 %

But it is only actually
2.7 + 0.05 + 1 %
IF u do not hv their weath products...

the website already stated "UP TO 2.8%" so it is up to you to figure out depending on your circumstances

 

[wira]

Just curious, of the 3 months (Jan 2025. Feb 2025 and Month To Date Mar 2025), which month(s) were you below $200k TRB?

my TRB never above $200K.
i applied for premier previously when they allow "salary credit" of >$16K

 

[bumdssa]

Anyone moving out and moving back in may? Not sure if worth the hassle.

 

[ckman3]

The website states April EGA is giving
2.8 + 0.05 + 1 %

But it is only actually
2.7 + 0.05 + 1 %
IF u do not hv their weath products...

The TnC doesn't define wealth products. Does unit trusts and insurance count?

 

[maumu]

Anyone moving out and moving back in may? Not sure if worth the hassle.

definitely moving out and back for the +1% on top of 2.9% for May...

 

[BlackTortoise]

definitely moving out and back for the +1% on top of 2.9% for May...

Move to where? I lazy to move.

 

[maumu]

Move to where? I lazy to move.

iSavvy 2.8% (for $200k and above)

 

[wutawa]

The website states April EGA is giving
2.8 + 0.05 + 1 %

But it is only actually
2.7 + 0.05 + 1 %
IF u do not hv their weath products...

only for 1 mth on incremental adb? worse than esaver...

 

[bumdssa]

iSavvy 2.8% (for $200k and above)

This is probably the best place to move out to. Too bad I closed my account already.

 

[maumu]

This is probably the best place to move out to. Too bad I closed my account already.

can open again. I closed it exactly a year ago (Apr 2024) and just reopened it yesterday.

and here's something I discovered - the bank did not erase my records with them completely. when I relogin into the mobile app, I could see the old payees that I had added in the past. they just gave me a new account number (and a new debit card).

in fact I had to personally go down to the branch to open because when I tried to use SingPass to open the account the bank website shows an error message saying the bank records did not match the SingPass records.

... I wonder exactly how long banks keep our personal data for even after we have closed all accounts with them

 

[bumdssa]

can open again. I closed it exactly a year ago (Apr 2024) and just reopened it yesterday.

and here's something I discovered - the bank did not erase my records with them completely. when I relogin into the mobile app, I could see the old payees that I had added in the past. they just gave me a new account number (and a new debit card).

in fact I had to personally go down to the branch to open because when I tried to use SingPass to open the account the bank website shows an error message saying the bank records did not match the SingPass records.

... I wonder exactly how long banks keep our personal data for even after we have closed all accounts with them

Is it worth the hassle? Haha

 

[BlackTortoise]

This is probably the best place to move out to. Too bad I closed my account already.

Me 2

 

[bumdssa]

Me 2

Dont know if worth the hassle to open again.

 

[maumu]

Is it worth the hassle? Haha

depends on what's your next best alternative?

mine is eSaver at 2.5%. need to merry-go-round with EGA... and eSaver is losing its shine.

the +0.3% to me is significant enough... also, am probably getting the 2.85% 3-year FD as well which requires a maybank account. so... to me it's worth the hassle.

 

[bumdssa]

depends on what's your next best alternative?

mine is eSaver at 2.5%. need to merry-go-round with EGA... and eSaver is losing its shine.

the +0.3% to me is significant enough... also, am probably getting the 2.85% 3-year FD as well which requires a maybank account. so... to me it's worth the hassle.

My next best alternative is esaver as well. Did the calculator and seems like quite a hassle. But Maybank at 2.8% may make a diff. Gonna calculate later

 

[peppermint7]

I just had Joint account created also but look at the T&C says Eligible account need to be created on or before 2024, so likely not valid for me also...I am not sure if that's a typo though.

This clause has been there last month too. I have called up but cs isn't helpful. he doesn't seems to know the reason and anyhow give me silly answers which i don't think can trust. I'm trying to in app live chat them but can't get anyone as yet. I believe this is a typo error. But this clause being there has already wipe out our chance to even participate.

Update. Manage to get someone under livechat but equally no help as she will tell you whatever in tnc is correct just follow. Ask her to check with marketing side she says cannot as they are not client facing.

 

[vsvs24]

This clause has been there last month too. I have called up but cs isn't helpful. he doesn't seems to know the reason and anyhow give me silly answers which i don't think can trust. I'm trying to in app live chat them but can't get anyone as yet. I believe this is a typo error. But this clause being there has already wipe out our chance to even participate.

It is not a typo. HSBC is now trying to focus on wealth management.

Starting exercise to downgrade premier accounts to personal accounts if do not meet TRB, Apr cycle introduce different rate for wealth products, cut branches and replace with wealth centres.

https://www.about.hsbc.com.sg/news-...-three-wealth-centres-in-singapore-by-q1-2025

 

[peppermint7]

It is not a typo. HSBC is now trying to focus on wealth management.

Starting exercise to downgrade premier accounts to personal accounts if do not meet TRB, Apr cycle introduce different rate for wealth products, cut branches and replace with wealth centres.

https://www.about.hsbc.com.sg/news-...-three-wealth-centres-in-singapore-by-q1-2025

Err.. but why need to block out new customers from joining this EGA promo? Refering to the clause only those sign up prior to 31st December 2024 can join.

"(iii)

is applicable to our existing customers who meet all the following criteria during the Promotional Period (collectively referred to as “Eligible Customers” and each, an “Eligible Customer”):

(a)

hold an HSBC Everyday Global Account (“EGA”) opened on or before 31 December 2024 (“Eligible Account”);

 

[Mickey01]

Err.. but why need to block out new customers from joining this EGA promo? Refering to the clause only those sign up prior to 31st December 2024 can join.

"(iii)

is applicable to our existing customers who meet all the following criteria during the Promotional Period (collectively referred to as “Eligible Customers” and each, an “Eligible Customer”):

(a)

hold an HSBC Everyday Global Account (“EGA”) opened on or before 31 December 2024 (“Eligible Account”);

perhaps it is because the New Account Welcome Rewards are not stackable with this EGA Bonus Interest promotion. For new accounts open in Dec 2024, there is a maintenance period of 3 months (Jan to end Mar 2025 to receive the welcome rewards). And so happen this Apr 2025 EGA BI promotion reference month is Mar 2025. Not sure if they will revise this Dec 2024 to Jan 2025 for May 2025 EGA BI Promotion

 

[peppermint7]

perhaps it is because the New Account Welcome Rewards are not stackable with this EGA Bonus Interest promotion. For new accounts open in Dec 2024, there is a maintenance period of 3 months (Jan to end Mar 2025 to receive the welcome rewards). And so happen this Apr 2025 EGA BI promotion reference month is Mar 2025. Not sure if they will revise this Dec 2024 to Jan 2025 for May 2025 EGA BI Promotion

It is stated in the tnc this promo isn't stackable. And my family didn't enjoy any new account welcome gift. The account open is to mainly for joining this promo, which we have told the officer during account opening in January. We weren't told there is such restrictions for new accounts. It seems to be a typo error to me.

This clause below has serve its purpose to void those who is on new account welcome gift. So they do not need to penalise those who didn't enjoy such gift. I wanted to reach the marketing department to clarify what is the purpose of this deterrent or is it mainly a typo error but the cs can't help just tell me marketing dept is unreachable and they (cs) seems to be only able to take order and unable to question or even relay a question to mktg dept.

5. The Promotion is not valid in conjunction with other offers, campaigns, promotions, privileges and vouchers, except for the promotions stated below, or such other promotions as we may otherwise specify from time to time: • HSBC Everyday+ Rewards Programme In other words, the same customer cannot receive both the Bonus Interest under this Promotion, and any other reward, bonus interest, gift or account credit or promotional rate from other promotions, other than those which are stated above or as we may otherwise specify from time to time. For clarity, a customer who is already participating and/or has been invited to participate in any other deposit related promotion involving his/her Eligible Account(s) (except for the HSBC Everyday+ Rewards Programme) and such other promotion is and/or will still be ongoing during the Promotional Period or Relevant Period, will not be eligible to participate in this Promotion using his/her Eligible Account(s). For example, if the customer is currently on the March 2025 Everyday Global Account Bonus Interest Promotion then he/she will not be eligible to register for this Promotion.