HWZ Forums

Login Register FAQ Mark Forums Read

HSBC Step Up Promo

Like Tree593Likes
Reply
 
LinkBack Thread Tools
Old 12-07-2018, 10:43 AM   #3361
Master Member
 
Join Date: Feb 2013
Posts: 4,703
Did u sign the 90day form when u collect your taka voucher? Roadshow Tnc is for 5-7 Jul, so your 90day is unlikely to count down from 1 Jul.

Thanks. I am an existing customer hence PIB is activated previously. I am referring to the roadshow promo where there is a 90 days lock-in period. As i placed my fund earlier(eg. 1st jun) before the registration date (8th jun). hence this is a grey area where the locked in start 1st or 8th.
tmkedmw is offline   Reply With Quote
Old 12-07-2018, 11:09 AM   #3362
Arch-Supremacy Member
 
arctician's Avatar
 
Join Date: Oct 2003
Posts: 13,426
Thanks. I am an existing customer hence PIB is activated previously. I am referring to the roadshow promo where there is a 90 days lock-in period. As i placed my fund earlier(eg. 1st jun) before the registration date (8th jun). hence this is a grey area where the locked in start 1st or 8th.
if you recv the taka vouchers, 90d lock in period start from the day you signed the document e.g. 8th june, not the 1st day of month you deposit the funds.
__________________
I am a buibui sandsurfing in the wilds of sahara
arctician is offline   Reply With Quote
Old 12-07-2018, 11:23 AM   #3363
Junior Member
 
Join Date: Jan 2009
Posts: 46
Thanks all. Got my answer!

Did u sign the 90day form when u collect your taka voucher? Roadshow Tnc is for 5-7 Jul, so your 90day is unlikely to count down from 1 Jul.
if you recv the taka vouchers, 90d lock in period start from the day you signed the document e.g. 8th june, not the 1st day of month you deposit the funds.
mrcullen is offline   Reply With Quote
Old 12-07-2018, 11:30 AM   #3364
Junior Member
 
Join Date: Mar 2018
Posts: 36
Hmm... HSBC launch another roadshow one week later.... they have done it before, I suspect the 5-7 jul roadshow did not meet their quota.

Anyway, bcos of the 90day requirements, it is not optimal to open a new premier nor topup an existing account for this mid-month roadshow.

Topping up existing account also got to full fill the 90 days?
The top up rewards for this mid cycle seem to be better? S$150 voucher as compared to last one.
Can any gurus here advise me as I do plan to top up, should I top up now or wait for the next month roadshow.
Strongandhappy is offline   Reply With Quote
Old 12-07-2018, 11:31 AM   #3365
Master Member
 
Join Date: Mar 2013
Posts: 3,552
if you recv the taka vouchers, 90d lock in period start from the day you signed the document e.g. 8th june, not the 1st day of month you deposit the funds.
Then if u sign the document to get the voucher for new sign up presenting the Cheque, the cheque clears later. Which is the 90 days?

Document signed date or cheque cleared day?
pinpinpin is offline   Reply With Quote
Old 12-07-2018, 11:42 AM   #3366
Arch-Supremacy Member
 
arctician's Avatar
 
Join Date: Oct 2003
Posts: 13,426
Then if u sign the document to get the voucher for new sign up presenting the Cheque, the cheque clears later. Which is the 90 days?

Document signed date or cheque cleared day?
usually is document signed date.
__________________
I am a buibui sandsurfing in the wilds of sahara
arctician is offline   Reply With Quote
Old 12-07-2018, 11:43 AM   #3367
Master Member
 
Join Date: Jan 2013
Posts: 4,723
Thanks all. Got my answer!
pls share ... thanks
oceanicmanta is offline   Reply With Quote
Old 12-07-2018, 11:53 AM   #3368
Master Member
 
Join Date: Feb 2013
Posts: 4,703
Yes, 90days even for topup to existing.
U sign the form then collect voucher.

Extra $30 taka voucher (150 instead of 120) is not enough to offset the "loss" of interest.
If I am u, I won't go for this mid July.

Topping up existing account also got to full fill the 90 days?
The top up rewards for this mid cycle seem to be better? S$150 voucher as compared to last one.
Can any gurus here advise me as I do plan to top up, should I top up now or wait for the next month roadshow.
tmkedmw is offline   Reply With Quote
Old 12-07-2018, 11:54 AM   #3369
Master Member
 
Join Date: Jan 2013
Posts: 4,723
the T&C in the roadshow form is not clear. The relevant clauses are :

a) "an existing customer must during the Promo period ... place a minimum of $X using fresh funds ... "

this seems to mean that your cheque or FAST shld be done during roadshow period. It's HSBC's discretion whether earlier crediting of funds is eligible so best to get black & white.

b) "the bank may levy an admin charge .... if the Min Fresh Funds not maintained ... for at least 90 consecutive calendar days from the date that the funds are credited into the account"
oceanicmanta is offline   Reply With Quote
Old 12-07-2018, 12:02 PM   #3370
Senior Member
 
Join Date: Aug 2007
Posts: 942
Then if u sign the document to get the voucher for new sign up presenting the Cheque, the cheque clears later. Which is the 90 days?

Document signed date or cheque cleared day?
You have 2 agreements here. Although it run concurrently, but you need to be clear about the tnc. Your welcome reward tnc stated to maintain that fund for at least 90 consecutive days from the date the acc is funded.
I can't remember clearly about the tnc in roadshow gift. Surely you don't want to lose your welcome reward by earlier withdrawal.
vddgnd is offline   Reply With Quote
Old 12-07-2018, 12:18 PM   #3371
Master Member
 
Join Date: Feb 2013
Posts: 4,703
My interpretation is this:

(a) and (b) is not mutually exclusive.

(a) and (b) together means that your topup funds must be in the 5-7 July roadshow promo period.

Branch to branch maybe inconsistent in their interpretation. Ultimately, Tnc prevail bcos that's what u signed.

the T&C in the roadshow form is not clear. The relevant clauses are :

a) "an existing customer must during the Promo period ... place a minimum of $X using fresh funds ... "

this seems to mean that your cheque or FAST shld be done during roadshow period. It's HSBC's discretion whether earlier crediting of funds is eligible so best to get black & white.

b) "the bank may levy an admin charge .... if the Min Fresh Funds not maintained ... for at least 90 consecutive calendar days from the date that the funds are credited into the account"
tmkedmw is offline   Reply With Quote
Old 12-07-2018, 01:39 PM   #3372
Senior Member
 
Join Date: Feb 2018
Posts: 1,066
Hmm... HSBC launch another roadshow one week later.... they have done it before, I suspect the 5-7 jul roadshow did not meet their quota.

Anyway, bcos of the 90day requirements, it is not optimal to open a new premier nor topup an existing account for this mid-month roadshow.
Probably better FD rates, better SSB rates and the increase debit spend to $800 has made HSBC step up less attractive. And honestly, this account quite tiring to maintain if want to optimise.
vsvs24 is offline   Reply With Quote
Old 12-07-2018, 02:22 PM   #3373
Junior Member
 
Join Date: Jan 2009
Posts: 46
Day of fund deposit + 90 days from the CSO. Reckon it is worthwhile for other to call in and check too. There are cases where CSOs give conflicting answers.

b) "the bank may levy an admin charge .... if the Min Fresh Funds not maintained ... for at least 90 consecutive calendar days from the date that the funds are credited into the account"


pls share ... thanks
oceanicmanta likes this.
mrcullen is offline   Reply With Quote
Old 12-07-2018, 02:43 PM   #3374
Master Member
 
Join Date: Feb 2013
Posts: 4,703
Roadshow reward taken literally means u do the deposit during roadshow which is 5-7 July. Strictly speaking, there is no roadshow reward if it is outside this period as the roadshow period is defined.

For those who are in this situation, I would suggest that don't stop at CSO, different one can give u different interpretation.

Ask for CSO to confirm with product management and arrange for call back when they have the answer.

Do phrase your question to accurately reflect the situation.
tmkedmw is offline   Reply With Quote
Old 12-07-2018, 03:04 PM   #3375
Master Member
 
Join Date: Jan 2013
Posts: 4,723
Day of fund deposit + 90 days from the CSO. Reckon it is worthwhile for other to call in and check too. There are cases where CSOs give conflicting answers.

b) "the bank may levy an admin charge .... if the Min Fresh Funds not maintained ... for at least 90 consecutive calendar days from the date that the funds are credited into the account"
I guess it's fair for those who use cheque during roadshow that the 90 day starts when cheque is presented, rather than when cheque is cleared.
oceanicmanta is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On