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Old 10-01-2018, 02:08 PM   #1936
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How long did you all take to get your arm/debit card? 1 week after creating the account they said my card has not been generated yet.

Sent from Xiaomi MI MAX using GAGT
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Old 13-01-2018, 10:47 AM   #1937
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The overseas remittance criteria is not bad. Assuming a fee of $25, you get $60 in interest. Nett earn $35
2 years ago, I did a GBP 1500 remittance into Indonesian Bank account.

The charges were :
1) Cable Fees SGD20
2) TT Commission SGD15
3) Agent Bank Fee GBP10

Presumably, under the current promo for Premier, Cable & TT Comms can be waived, but the Agent Bank Fee will not be.

There is no telling how much the Agent Bank fee will be until the TT has been made.
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Old 13-01-2018, 09:14 PM   #1938
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2 years ago, I did a GBP 1500 remittance into Indonesian Bank account.

The charges were :
1) Cable Fees SGD20
2) TT Commission SGD15
3) Agent Bank Fee GBP10

Presumably, under the current promo for Premier, Cable & TT Comms can be waived, but the Agent Bank Fee will not be.

There is no telling how much the Agent Bank fee will be until the TT has been made.
what if we remit gbp1? the recipient would get nothing and the cost on the sender would be the lowest i guess.

Last edited by kitkat2; 13-01-2018 at 09:45 PM..
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Old 14-01-2018, 01:09 AM   #1939
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what if we remit gbp1? the recipient would get nothing and the cost on the sender would be the lowest i guess.
I believe there are fixed minimum fees for small TT amounts

u wld just minimise FX conversion losses
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Old 14-01-2018, 03:30 AM   #1940
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I believe there are fixed minimum fees for small TT amounts

u wld just minimise FX conversion losses
one would interested not in doing actual money transfer but in getting the bonus interest for fx.

according to the tnc, the min tt amount is $1 in order to be eligible for bonus interest. so, send a $1 so that any unknown agent fee, correspondent bank fee or inward fee that would eat into the amount you send, would be limited $1. will it work?

i know that every usd tt will be cleared via a us bank and they will take usd25 each time. so, what if we send <usd25? will they take whatever that is there, like hsbc would take from us the fall below fee, or will they reject and bounce the tt?

Last edited by kitkat2; 14-01-2018 at 03:38 AM..
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Old 14-01-2018, 02:23 PM   #1941
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what I meant is even if TT just US$1, the agent bank fees would still be USD 25 in your example of a US bank clearing the TT

the amount will be deducted from your Premier account
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Old 14-01-2018, 02:43 PM   #1942
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what I meant is even if TT just US$1, the agent bank fees would still be USD 25 in your example of a US bank clearing the TT

the amount will be deducted from your Premier account
i thought you said there is no telling how much the agent fee is until tt is sent?

fees like this are deducted from the amount sent, so sender usually doesn't have to pay for them. i know because i have remitted usd many times and each time the received amount is usd25 less.
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Old 14-01-2018, 03:21 PM   #1943
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i thought you said there is no telling how much the agent fee is until tt is sent?

fees like this are deducted from the amount sent, so sender usually doesn't have to pay for them. i know because i have remitted usd many times and each time the received amount is usd25 less.
sorry if not clear, i was just using your example ... I believe the Agent Bank charges a minimum amount for the agent fee, even if the TT amount is small.

for my case, I had to bear this agent fee as receiver will not absorb the cost.

I called HSBC SG & emailed BII to ask how much is the Agent fee but none of them could or would tell me ... or even the ballpark charges. I went ahead with the TT and this fee was deducted from my Premier Account subsequently.

I am guessing if you choose fee to be deducted from the amount sent & there is insufficient value, the TT may not go through ?

Last edited by oceanicmanta; 14-01-2018 at 03:29 PM..
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Old 14-01-2018, 06:04 PM   #1944
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sorry if not clear, i was just using your example ... I believe the Agent Bank charges a minimum amount for the agent fee, even if the TT amount is small.

for my case, I had to bear this agent fee as receiver will not absorb the cost.

I called HSBC SG & emailed BII to ask how much is the Agent fee but none of them could or would tell me ... or even the ballpark charges. I went ahead with the TT and this fee was deducted from my Premier Account subsequently.

I am guessing if you choose fee to be deducted from the amount sent & there is insufficient value, the TT may not go through ?
you obviously instructed the banks to ensure that the recipient receives the same amount of money that you remitted, with all the intermediate bank fees billed to the sender's account.

i think this is not the default mode and there are options you can choose when remitting.

whether it will go through or not, there is no harm in trying right? after all, there is no fee

see http://expatfinance.net/internationa...dent-bank-fees on how correspondent bank fees are charged.

Last edited by kitkat2; 14-01-2018 at 06:36 PM..
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Old 15-01-2018, 11:17 AM   #1945
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usually after 1st 3 month of bonus interests, 4th month we empty the account to zero balance, then the account will be deactivated after how long we keep it at zero?
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Old 15-01-2018, 11:48 AM   #1946
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usually after 1st 3 month of bonus interests, 4th month we empty the account to zero balance, then the account will be deactivated after how long we keep it at zero?
Won't it be affected by minumum amount fees if leave it to zero and wait for auto close? As in this account won't have negative balance?

Anyway, I think ppl usually wait for 2-3 months before starting on the next promo, if not wrong. I'm starting to learn about this hurdle account myself too.
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Old 15-01-2018, 11:54 PM   #1947
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Anybody already received step up bonus interest for month Dec ?, for month Oct and Nov i received it 1st week of the following month
I would like to spin the Question differently to:-

Has anyone signed up for the promo period Oct-Nov-Dec and have not received the Step Up Interest (1.45%, 1.5%) for the month of Dec 2017?
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Old 16-01-2018, 06:54 AM   #1948
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I would like to spin the Question differently to:-

Has anyone signed up for the promo period Oct-Nov-Dec and have not received the Step Up Interest (1.45%, 1.5%) for the month of Dec 2017?
I am on Nov-Dec-Jan period, I got Dec step up interest on 5th Jan
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Old 16-01-2018, 06:58 AM   #1949
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actually, if u zero at the 4th month, they will charge u fall below on the 5th month?
not sure about premiere but advance I read there is 6 month grace period to top up. so by then if u sign up for next cycle, will never have to worry about fall below fee; am I right to say that?
I am quite new on this, not sure below is the right strategy
1st month = $xx
2nd month = $xx + 1st month step up interest
3rd month = $xx + 2nd month step up interest
date 30 or 31 of the 3rd month --> action withdraw all to $0
date 5th on the 4th month = receive 3rd month step up interest
date 5th on the 4th month --> action 3rd month step up interest received
5th month --> action register for new the promo period

will above works?
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Old 16-01-2018, 08:06 AM   #1950
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I am quite new on this, not sure below is the right strategy
1st month = $xx
2nd month = $xx + 1st month step up interest
3rd month = $xx + 2nd month step up interest
date 30 or 31 of the 3rd month --> action withdraw all to $0
date 5th on the 4th month = receive 3rd month step up interest
date 5th on the 4th month --> action 3rd month step up interest received
5th month --> action register for new the promo period

will above works?
On 5th month, u need to check what is the Reference Month ... it may not be Apr & it could be Mar depending on the promo registration period
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