HSBC Step Up Promo - Part 2

[hwmook]

Hsbc closing Plaza sing branch

HSBC got 1 branch at claymore so not surprising. They don't need so many physical locations.

 

[pratik28]

Hi guys noob question new to EGA, its base int only 0.05%.
Say I dont dn any incremental topup every month (will only do 2k in/out to qualify rewards program),

I earn 1% cashback on giro bills + credit card bills But I will only get 0.05% on a/c balance (maintain 2k)?
Is it correct and is it worth it? (Bonus int is only for incremental topup rght, else only 0.05%)

So is it worth to open/maintain ega a/c for the 1% cashback on bills, giro, etc??

(Bonus int on incremental topup have also started to come down, so do you guys maintain the a/c for the 1% cashback despite only 0.05% base int on ur a/c bal)?

 

[sglandscape]

Hi guys noob question new to EGA, its base int only 0.05%.
Say I dont dn any incremental topup every month (will only do 2k in/out to qualify rewards program),

I earn 1% cashback on giro bills + credit card bills But I will only get 0.05% on a/c balance (maintain 2k)?
Is it correct and is it worth it? (Bonus int is only for incremental topup rght, else only 0.05%)

So is it worth to open/maintain ega a/c for the 1% cashback on bills, giro, etc??

(Bonus int on incremental topup have also started to come down, so do you guys maintain the a/c for the 1% cashback despite only 0.05% base int on ur a/c bal)?

If you have to ask, it is probably not worth the hassle.

 

[pratik28]

If you have to ask, it is probably not worth the hassle.

ya, I mean one end hsbc giving 1% cashback on bill payments, etc
but other end we only get 0.05% base int on existing a/c balance and still have to maintain 2k to avoid fall below fee.

But I am also wondering is there a way to earn higher interest on existing a/c balance or does it always remain 0.05%!

 

[sglandscape]

ya, I mean one end hsbc giving 1% cashback on bill payments, etc
but other end we only get 0.05% base int on existing a/c balance and still have to maintain 2k to avoid fall below fee.

But I am also wondering is there a way to earn higher interest on existing a/c balance or does it always remain 0.05%!

Always 0.05% unfortunately, unless you want to pay the fall below fee

 

[pratik28]

Always 0.05% unfortunately, unless you want to pay the fall below fee

thanks!
May I ask, manual transfer bill payment will also qualify for 1% cashback
or only giro set up for automatic bill deductions qualify?

 

[sglandscape]

thanks!
May I ask, manual transfer bill payment will also qualify for 1% cashback
or only giro set up for automatic bill deductions qualify?

Only GIRO

 

[sibeiTrolled]

hi all, abit confused - is EGA FAST limit capped at $250k a day? or $200k?

*The maximum daily transfer limit is SGD250,000 (or its equivalent in foreign currency), or up to the maximum daily limit you've set for third-party account transfers, whichever is lower.

https://www.hsbc.com.sg/accounts/products/global-money-transfers/faq/

I think this is the limit. Not sure if it only refers to international xfer

 

[maumu]

*The maximum daily transfer limit is SGD250,000 (or its equivalent in foreign currency), or up to the maximum daily limit you've set for third-party account transfers, whichever is lower.

https://www.hsbc.com.sg/accounts/products/global-money-transfers/faq/

I think this is the limit. Not sure if it only refers to international xfer

thanks man. I think I got confused by the FAST limit which is $200k per transfer...

so if need to transfer more than that, have to do multiple FASTs.

 

[ckman3]

https://www.hsbc.com.sg/accounts/products/everyday-global/

New EGA promo for Feb 2025 only.
Personal total rate (Base + BI) 2.6%
Premier (<$2Mil) total rate 2.7%
See details in TnC

Edit : Promo period now updated to Feb and Mar 2025 as indicated in latest TnC.

 

[atlam42]

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

Has anyone received the 3.x% interest yet? I have not received mine yet.

 

[chopra]

https://www.hsbc.com.sg/accounts/products/everyday-global/

New EGA promo for Feb 2025 only.
Personal total rate (Base + BI) 2.6%
Premier (<$2Mil) total rate 2.7%
See details in TnC

I have 2 accounts (ADB in jan is $500k and $2k in account a and b respectively). If i put $500k into b , do they look at Asb of both a and b?

 

[maumu]

https://www.hsbc.com.sg/accounts/products/everyday-global/

New EGA promo for Feb 2025 only.
Personal total rate (Base + BI) 2.6%
Premier (<$2Mil) total rate 2.7%
See details in TnC

hmm I read the tnc it's for Feb and Mar leh. did they update overnight?

 

[maumu]

Has anyone received the 3.x% interest yet? I have not received mine yet.

I think is on the 5th working day of the month or around there.

 

[chopra]

I have 2 accounts (ADB in jan is $500k and $2k in account a and b respectively). If i put $500k into b , do they look at Asb of both a and b?

I actually got the answer in jan


: Jan 2025 Bonus Interest (BI) registration is now on a customer level – if you registers for your sole, all joint will be included.

We will look into each account’s incremental ADB and accord the BI respectively.

 

[jesp15]

Does it still gain interest and increase the ADB if I deposit to my EGA today which is weekend?

 

[waterpighead]

I sms to register for the latest EGA promo. However, no sms acknowledgement rec’d (unlike previous rounds where HSBC will send an SMS to thank and acknowledge the registration for XX month EGA bonus interest promotion).
anyone also encounter similar problem as me, ie not receiving an returned acknowledgment sms fr HSBC?

 

[devion]

Wonder how it works now. Current TnC stated if register sole account, all its joint accts be registered as well.
I registered only my joint account for Jan EGA bonus, so only this account is applicable. Now in Feb, I decided to register one of the sole account for Feb EGA bonus, by right all its joint acct be registered too, but this joint acct was previous registered on Jan EGA bonus, which then would be regarded as not eligible.

I asked cos if need to do merry go round between sole & joint accounts to reap the additional monthly 1% incremental bonus interest, need to carefully study how it can work now.

 

[jesp15]

I sms to register for the latest EGA promo. However, no sms acknowledgement rec’d (unlike previous rounds where HSBC will send an SMS to thank and acknowledge the registration for XX month EGA bonus interest promotion).
anyone also encounter similar problem as me, ie not receiving an returned acknowledgment sms fr HSBC?

No issue with my EGA Promo registration this morning.

 

[vsvs24]

Does it still gain interest and increase the ADB if I deposit to my EGA today which is weekend?

Today Sat. Counted If you deposit before 5pm today