HSBC Step Up Promo - Part 2

[oceanicmanta]

HSBC Step Up Promo

think appropriate to start new thread ... suspect it's gonna be a continuing promo from HSBC

to start ... anyone received Sep's 1.8% yet


NEW CLIENT T&C https://www.hsbc.com.sg/1/PA_ES_Con..._New_Premier_and_Advance_Step_Up_Oct_2016.pdf

Existing Premier T&C
https://www.hsbc.com.sg/1/PA_ES_Con...e_Account_Step_Up_Bonus_Interest_Oct_2016.pdf

Existing Premier sign-up https://www.apps.asiapacific.hsbc.com/1/2/sgh2/hsbc-msv-campaign

from this site https://www.hsbc.com.sg/1/2/premier

 

[oceanicmanta]

Reserved for updates.

 

[hwzadmin]

This is a continuation thread, the old thread is here

 

[yiron]

from the EGA Step up promo for July TnC
seems like:
1) top up reduced from 1.65% to 1.3%
2) debit card spend $800 for premier reduced from 1.8% to 1.2%
3) Fx conversion min amount change to $800. the bonus interest for this category is now tiered. For premier its 1% instead of 1.35% the previous month

They haven't updated their website but they updated their TnC

Wah this is depressing

Oh well, bo bian. This is still one of the better ones in this low rates environment.
eSaver 0.7%, fastsaver also tio slashed to 0.825%. isavvy most likely will drop to 0.8% to 0.9% come July.

 

[tmkedmw]

HSBC will see more challenges moving forward... their handling of the China relation is going to be a key factor.... need to watch Huawei, UK 5G.

 

[mdax23]

This month so fast update. Lol

 

[vsvs24]

HSBC will see more challenges moving forward... their handling of the China relation is going to be a key factor.... need to watch Huawei, UK 5G.

To get caught in the politics is a big headache. Either way will die.

 

[Squaredot]

Dear Highly Sophisticated Bank Customers, we are now in Part 2
We have come a long way

 

[earlyretire]

peppermint7's TRB should include that of his joint EGA newly opened this month, but with yiron's confirmation too that he had received his Premier Welcome Reward, it appears that HSBC does not enforce the new criteria for Premier customers on the Welcome Reward Promotion to maintain minimum $200K in TRB on the Reward Fulfillment Dates. Great experiment with rewarding outcome indeed Hopefully, HSBC is not watching this thread!

 

[peppermint7]

peppermint7's TRB should include that of his joint EGA newly opened this month, but with yiron's confirmation too that he had received his Premier Welcome Reward, it appears that HSBC does not enforce the new criteria for Premier customers on the Welcome Reward Promotion to maintain minimum $200K in TRB on the Reward Fulfillment Dates. Great experiment with rewarding outcome indeed Hopefully, HSBC is not watching this thread!

My joint has only 150k cos I want to keep near SDIC 75k per pax. I intend to put back 200k from 1st July. But now no need to anymore

Actually. We have followed the tnc and sacrifice our 4th month forgoing bonus interest. We are getting wat we deserve I should say.

 

[earlyretire]

Has anyone tried directly transferring from his sole EGA to his joint EGA that was empty in the reference month or vice versa in order to join the next Step Up Bonus Interest Promotion back-to-back, and still managed to receive the bonus interests? Just wondering how strictly HSBC enforces the fresh fund criteria for the promotion.

 

[vsvs24]

Has anyone tried directly transferring from his sole EGA to his joint EGA that was empty in the reference month or vice versa in order to join the next Step Up Bonus Interest Promotion back-to-back, and still managed to receive the bonus interests? Just wondering how strictly HSBC enforces the fresh fund criteria for the promotion.

Just a few finger work. Don't be lazy.

 

[oceanicmanta]

Just a few finger work. Don't be lazy.

I think he is clarifying something else ... but yeah, good advice to do a few more clicks for that to work

 

[earlyretire]

Just a few finger work. Don't be lazy.

I have already maxed out the amount that will be eligible to earn bonus interests under the Step Up Bonus Interest promotion in my sole EGA and my wife's EGA. Upon transferring out the funds from our individual EGAs at the end of the promotion, I'll be restricted by the maximum daily transfer limits imposed by my other banks in routing back part of the funds to our joint EGA to join the next promotion back-to-back, resulting in loss of interests over a considerable number of days, unless I apply for another current account (my only one is with HSBC) or visit a branch to draw a cashier's order. I do not mind the effort, but cheque or CO clearance will need a day or more over weekend. Hence, my earlier query to check if anyone has experience whether HSBC enforces its fresh fund criteria; I know some banks do not.

 

[oceanicmanta]

OMG ... max for StepUp bonus is $2m wor ??!!

I have not (dared) tested myself but quite sure FF criteria is enforced for intra-HSBC transfers

 

[tmkedmw]

@earlyretire
Such scenario only happens when month end is on a Sunday or PH. June month end is on a Tues. For weekdays, checks or CO into HSBC is valued same-day as long as it is deposited b4 3:30pm.

For other banks, u can do 2x$200k fast daily using joint account. Need multiple joint accounts across different banks to do large sum transfers.

 

[Squaredot]

OMG ... max for StepUp bonus is $2m wor ??!!

I have not (dared) tested myself but quite sure FF criteria is enforced for intra-HSBC transfers

yea, he has a happy problem

 

[peppermint7]

OMG ... max for StepUp bonus is $2m wor ??!!

I have not (dared) tested myself but quite sure FF criteria is enforced for intra-HSBC transfers

I don't think anyone will dare test. Who is so daring to sacrifice 1 month's bonus interest just to test?

 

[Listopad]

I have already maxed out the amount that will be eligible to earn bonus interests under the Step Up Bonus Interest promotion in my sole EGA and my wife's EGA. Upon transferring out the funds from our individual EGAs at the end of the promotion, I'll be restricted by the maximum daily transfer limits imposed by my other banks in routing back part of the funds to our joint EGA to join the next promotion back-to-back, resulting in loss of interests over a considerable number of days, unless I apply for another current account (my only one is with HSBC) or visit a branch to draw a cashier's order. I do not mind the effort, but cheque or CO clearance will need a day or more over weekend. Hence, my earlier query to check if anyone has experience whether HSBC enforces its fresh fund criteria; I know some banks do not.

I have done it before , they don’t enforce criteria . I was still given bonus interests . But the risks remain that they may change it .

 

[peppermint7]

@earlyretire
Such scenario only happens when month end is on a Sunday or PH. June month end is on a Tues. For weekdays, checks or CO into HSBC is valued same-day as long as it is deposited b4 3:30pm.

For other banks, u can do 2x$200k fast daily using joint account. Need multiple joint accounts across different banks to do large sum transfers.

Do u mean he can visit branch to withdraw 2 x 2 million in CO then re deposited into the joint EGA within same bank?

Will that make it same as moving funds within same bank and thus become not eligible?