HSBC Step Up Promo - Part 2

[peppermint7]

Ok tks! I put 370k to earn 3.x%

How do u consistently leave 370k there to earn consistent 3.x% ?

 

[chopra]

But there will be months w gaps so that u can earn the BI.

Wonder if they will charge for those months.

How do u consistently leave 370k there to earn consistent 3.x% ?

I merry go rd joint n single. Under BTL, im not subjected by the “gap” yet

 

[Nanonited]

Is the bonus interest in yet? Not the 1% but the 3.x% one

 

[maumu]

I just checked my app today that my status has been updated, no longer "Premier"

Hope to rejoin maybe a year later for welcome rewards again if the rates are still good that is..

 

[revhappy]

I just checked my app today that my status has been updated, no longer "Premier"

Hope to rejoin maybe a year later for welcome rewards again if the rates are still good that is..

Mine is still premier, it is more than a year already(April 2023) that I have been premier without maintaining the TRB, I just do 15k in and out. Maybe they are downgrading in batches?

 

[hwmook]

Mine is still premier, it is more than a year already(April 2023) that I have been premier without maintaining the TRB, I just do 15k in and out. Maybe they are downgrading in batches?

If you sign up under the 15k scheme then they will start enforcing only from 1st Jan 2025. And it's unlikely they will do so immediately after you fail to meet TRB, maumu went to request so they downgraded him. For the rest, I am sure they will not downgrade so fast, I am sure the fees will come first. Then people will call in to ask for waiver etc then downgrade.

 

[Mickey01]

Mine is still premier, it is more than a year already(April 2023) that I have been premier without maintaining the TRB, I just do 15k in and out. Maybe they are downgrading in batches?

You did not receive the notification email from HSBC? It is stated very clearly -

"Customers can qualify for HSBC Premier if they have a minimum recurring
crediting arrangement meeting a minimum amount in their account, for a
period of 12 months from the time they start their HSBC Premier relationship.
After this period, they’ll need to hold a minimum TRB to remain qualified for
HSBC Premier"

For Relevant Existing Customers:
"That have held a HSBC Premier relationship for at least 12 months as of 1
Jan 2025, you will need to hold a minimum TRB from 1 Jan 2025 to remain
qualified for HSBC Premier" - you are in this category

"That have held a HSBC Premier relationship for less than 12 months as of 1
Jan 2025, you will need to hold a minimum TRB after the first 12 months of
your HSBC Premier relationship to remain qualified for HSBC Premier. By
way of illustration, (e.g. if customer held a relationship from Apr 2024 for 8
months prior to 1 Jan 2025; he will need to hold a minimum TRB from 1 May
2025 to remain qualified for HSBC Premier.)"

After completing the month of Jan 2025 without meeting the TRB requirement, we will likely know the action from HSBC. As highlighted by hwmook, the $50 service fees will probably be charged first from Feb 2025 before any downgrading

 

[revhappy]

If you sign up under the 15k scheme then they will start enforcing only from 1st Jan 2025. And it's unlikely they will do so immediately after you fail to meet TRB, maumu went to request so they downgraded him. For the rest, I am sure they will not downgrade so fast, I am sure the fees will come first. Then people will call in to ask for waiver etc then downgrade.

The monthly fee is $50 right? It may be worth paying the fees for people who are able to earn the $500 EGA cashback instead of $300 cashback on the regular EGA account.

 

[hwmook]

The monthly fee is $50 right? It may be worth paying the fees for people who are able to earn the $500 EGA cashback instead of $300 cashback on the regular EGA account.

Sure, $200 is still more than $50.

 

[tiertime]

The monthly fee is $50 right? It may be worth paying the fees for people who are able to earn the $500 EGA cashback instead of $300 cashback on the regular EGA account.

I duno why ppl are rushing to downgrade ?

Coz if u put zero in balance, they won't be able to charge you for the $50 right ?

How to earn $500 cash back, I tot it's capped at $300 ？

 

[AlvinDj]

I duno why ppl are rushing to downgrade ?

Coz if u put zero in balance, they won't be able to charge you for the $50 right ?

You feel HSBC wont go into overdraft mode like UOB?

 

[tiertime]

You feel HSBC wont go into overdraft mode like UOB?

Then just tell the bank to waive or close account and let the bank blacklist lor , just use other banks if that happens

Anyway I blacklisted UOB many years ago when they did not honour the campaign goodies and pretend to forget to credit my earmarked savings interest after a few reminders ...
I didn't know they will chut the overdraft pattern too lol , lucky i not keen in any of the UOB Promos anymore

 

[devion]

HSBC fall below fee will overdraft, kena before.

 

[royalmix]

HSBC fall below fee will overdraft, kena before.

I have been lucky so far!

 

[maumu]

I chose to downgrade myself instead of being subjected to possible fall-below fees or being deprived of any BI for "account not being in good standing".

anyway, I don't use any of the Premier status perks, except to email the Service Manager once in a blue moon when enquiring about some BI-related stuff.

the difference rate for BI between Personal and Premier is like at most 0.05%... or maybe 0.1%

rather have the peace of mind than having to think about the uncertainties of what move the bank will make.

 

[Mickey01]

HSBC fall below fee will overdraft, kena before.

EGA Account? Or other types of HSBC Account.

 

[devion]

EGA Account? Or other types of HSBC Account.

EGA. That was quite some time back but am sure it remains the same.

 

[AlvinDj]

I chose to downgrade myself instead of being subjected to possible fall-below fees or being deprived of any BI for "account not being in good standing".

anyway, I don't use any of the Premier status perks, except to email the Service Manager once in a blue moon when enquiring about some BI-related stuff.

the difference rate for BI between Personal and Premier is like at most 0.05%... or maybe 0.1%

rather have the peace of mind than having to think about the uncertainties of what move the bank will make.

Actually my concern is more to the $300 vs $500 cap that will be missed out lol..

 

[maumu]

Actually my concern is more to the $300 vs $500 cap that will be missed out lol..

rich man's problem... lol

I don't have 6-figure sums to move around easily every month or spend $600k on retail/GIRO transactions

 

[wutawa]

HSBC fall below fee will overdraft, kena before.

My Ega $0 for years. Heng