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HSBC Step Up Promo

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Old 04-04-2018, 08:25 PM   #2626
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hi, to get the $50, did you simply top up?

or did you go to the roadshow to top up?
I fast transfer on same day and go down collect voucher. The rm will check ur account to make sure there is a fast transfer fr other bank of 100k before asking you to sign a doc n issue the voucher to you.
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Old 04-04-2018, 08:41 PM   #2627
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$50 FOR 100k top up
I personally dun think it is worth to top up 100k just to get the $50 voucher. The voucher require us to maintain the 100k for 90 days. i.e. Till 4 of Jul earliest. During these 4 days, the interest is pathetic. Furthermore, a strategy for this step up account is to put in for 3 months... and then withdraw completely. The skipping of 1 month will allow you to go for the next cycle base on a 0$. However if u keep the $100k for 4 days, the ADB will be $100k x 4/30 ~ $13.3k. For the new cycle, your base will be down by $13k for 3 months. ~ $48.3 for 3 months in the new cycle. Do u prefer $48 cash or $50 of Taka voucher?
Feel free to comment on your thoughts. Thanks.
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Old 04-04-2018, 10:22 PM   #2628
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I personally dun think it is worth to top up 100k just to get the $50 voucher. The voucher require us to maintain the 100k for 90 days. i.e. Till 4 of Jul earliest. During these 4 days, the interest is pathetic. Furthermore, a strategy for this step up account is to put in for 3 months... and then withdraw completely. The skipping of 1 month will allow you to go for the next cycle base on a 0$. However if u keep the $100k for 4 days, the ADB will be $100k x 4/30 ~ $13.3k. For the new cycle, your base will be down by $13k for 3 months. ~ $48.3 for 3 months in the new cycle. Do u prefer $48 cash or $50 of Taka voucher?
Feel free to comment on your thoughts. Thanks.
theoretically, think you are right, however the reference month seems to be uncertain? last reference month was march, assuming next cycle is the same, then may be june? if so, then the above is not relevant.

however, as you pointed out, you do 'lose' because of 4 days of low interest which is about $15-$20.. so getting the $50 taka still makes sense (if you cannot time the reference month perfectly...)
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Old 04-04-2018, 10:36 PM   #2629
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Current promo cycle runs from 2 April to 30 June 2018.

The next promo will start in July with June as reference month. If the promo runs for 2-3 months (July to Aug or July to Sep), your July ABD will not apply.

Your July ABD will apply if there is another promo in August with July as reference month.
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Old 04-04-2018, 10:57 PM   #2630
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Current promo cycle runs from 2 April to 30 June 2018.

The next promo will start in July with June as reference month. If the promo runs for 2-3 months (July to Aug or July to Sep), your July ABD will not apply.

Your July ABD will apply if there is another promo in August with July as reference month.
Yup.. will empty out in July. June would still be max. No point going for July to Sep period as June is max. So.. it is typically 1 cycle... skip 1 month... then the next cycle... so on..
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Old 04-04-2018, 11:01 PM   #2631
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theoretically, think you are right, however the reference month seems to be uncertain? last reference month was march, assuming next cycle is the same, then may be june? if so, then the above is not relevant.

however, as you pointed out, you do 'lose' because of 4 days of low interest which is about $15-$20.. so getting the $50 taka still makes sense (if you cannot time the reference month perfectly...)
But $15-20 is for 1 month rite? For the entire cycle of 3 months... u lose 3 time of $15-20.. cos all 3 months still uses the same base... i.e. effectively... u r lose at least 12 days of interest for a 3 months cycle... so 12/30 x 1.45%/12 x 100000 of cash vs $50 of Taka voucher
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Old 04-04-2018, 11:09 PM   #2632
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Yup.. will empty out in July. June would still be max. No point going for July to Sep period as June is max. So.. it is typically 1 cycle... skip 1 month... then the next cycle... so on..
probably u will need to skip 2 or 3 months if current promo trend continues which means July may not be a reference month. Get it?
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Old 04-04-2018, 11:24 PM   #2633
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probably u will need to skip 2 or 3 months if current promo trend continues which means July may not be a reference month. Get it?
Yup.. they change the scheme a bit... currently dun know the pattern yet. If they will always be using Mar, Jun, Sep, Dec as the reference, then we might wanna try.. 2 months.. skip 1 month... and so on.. as compare to previous 3 months... skip 1 month... Problem is we dun know their 'pattern' yet...
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Old 05-04-2018, 01:15 AM   #2634
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Jin Lugi, we just signed up for their step up a few days ago, now then they release got $120 Taka for existing customers who sign for step up... kns...
u can draw out the hsbc to another acct and route it back the following day as fresh funds, then you be able to get the taka vouchers.
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Old 05-04-2018, 01:27 AM   #2635
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u can draw out the hsbc to another acct and route it back the following day as fresh funds, then you be able to get the taka vouchers.
but the CSO says sign up online liao cannot re-sign at roadshow leh... how ar...
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Old 05-04-2018, 09:25 AM   #2636
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The 90-day lock in period for me to get the sign up bonus cash for new HSBC Premier accounts will be ending soon. I'm planning to move all the money in this acccount out to another bank. Can I check if by doing this, we can still avoid the monthly fall-below minimum fee?
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Old 05-04-2018, 10:24 AM   #2637
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The 90-day lock in period for me to get the sign up bonus cash for new HSBC Premier accounts will be ending soon. I'm planning to move all the money in this acccount out to another bank. Can I check if by doing this, we can still avoid the monthly fall-below minimum fee?
have to avoid 4th and 5th, they will make the deduction on these dates if there is money in your account....
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Old 05-04-2018, 11:48 AM   #2638
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but the CSO says sign up online liao cannot re-sign at roadshow leh... how ar...
i dont think they will check if you have signed up online or no, if you appear with cheque of $200k
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Old 05-04-2018, 01:01 PM   #2639
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This time round more taka vouchers ($200) but lower cash credits later on ($450), for fresh funds of min. $200k.
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Old 05-04-2018, 08:39 PM   #2640
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Just received March step up bonus interest ( Mar/Apr/May cycle)!
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