HSBC Step Up Promo

[arctician]

i realized this EGA is underrated, the bonus interest is 2%, but ppl missed out on the base of 0.35% for amt exceeding $500K, and the account can hold up to $2mil as max. So in theory if one has a large amt one can effectively get 2.35% with no lock in.

 

[devion]

So if I had open a CASA account in Feb, then Feb is the reference month I suppose? Then when I open an ESA acct in May, it will still regard Feb as the reference month is it?
Very crafty of HSBC to come up with such a TnC, not as clear & can mislead many if the above is correct.

 

[arctician]

So if I had open a CASA account in Feb, then Feb is the reference month I suppose? Then when I open an ESA acct in May, it will still regard Feb as the reference month is it?
Very crafty of HSBC to come up with such a TnC, not as clear & can mislead many if the above is correct.

Reference mth is based on campaign period..not linked to mth you open the account

 

[newdestoria]

When will the roadshow for Jun-Aug period start, today or thursday?

 

[tmkedmw]

i realized this EGA is underrated, the bonus interest is 2%, but ppl missed out on the base of 0.35% for amt exceeding $500K, and the account can hold up to $2mil as max. So in theory if one has a large amt one can effectively get 2.35% with no lock in.

Interest rate is tiered, so for $2mil, it's not quite 2.35%... it's closer to 2.31%

 

[tmkedmw]

When will the roadshow for Jun-Aug period start, today or thursday?

Roadshows:

6 Jun - 8 Jun at
Claymore, Suntec City, Serangoon and Marine Parade branches.

6 Jun - 7 Jun at Raffles Place branch.

New Premier relationship:
$400 cash credit + $200 Capitaland voucher + Other Reward (pls pm me for details)

Existing Premier:
$200 capitaland voucher for $200k topup to existing premier.

 

[Squaredot]

Even CSO may not know the answer, TRB is probably the most complicated mechanic in premier, esp when you add in single, joint accounts under A,B,C

I'm always confused with TRB.
Before EGA came, Single and Joint account are deemed separate for the purpose of step-up promo. Correct?

For EGA, is TRB for Single and Joint still taken separate or the "original" TRB rule applies?

 

[arctician]

I'm always confused with TRB.
Before EGA came, Single and Joint account are deemed separate for the purpose of step-up promo. Correct?

For EGA, is TRB for Single and Joint still taken separate or the "original" TRB rule applies?

still separate, but if you use the same names to setup the same single and joint account for premier and EGA, TRB will kick in.

For example last time you have single and joint, so TRB no effect and they are considered separate relationships

However now if you setup single and joint account under same names for EGA, TRB will kick in - whatever balance you have under single name in Premier will apply to your single name in EGA. same for joint names..it took me awhile to understand too.

 

[arctician]

Interest rate is tiered, so for $2mil, it's not quite 2.35%... it's closer to 2.31%

yes thats why i said it only apply for amt above 500k. Even if amt is below $500k, the base is also quite good. For $100K-499k base already 0.2%, i will rate EGA the best in market right now considering you have to do salary, 3 bills and CC spend to get similar interest for uob one etc.

 

[devion]

Reference mth is based on campaign period..not linked to mth you open the account

I called CSO today & apparently they treat the reference months differently for ESA & CASA accts. So there are 2 ref mths if ESA & CASA accts were opened on a different period.

 

[tiertime]

i finally managed to get the RM to approve my extension for June (my cycle was Mar, Apr May)

So let say for June i only have 100k to deposit, am i still eligible for the savings and debit card spend bonus interest ?

The reference month for June deposit is February (same as my Mar, Apr, May cycle) right ?

 

[arctician]

I called CSO today & apparently they treat the reference months differently for ESA & CASA accts. So there are 2 ref mths if ESA & CASA accts were opened on a different period.

thats why better to read the tnc, regardless of opening month the reference period is always stated on PDF. As long as TRB is zero you will get full interest.

 

[arctician]

i finally managed to get the RM to approve my extension for June (my cycle was Mar, Apr May)

So let say for June i only have 100k to deposit, am i still eligible for the savings and debit card spend bonus interest ?

The reference month for June deposit is February (same as my Mar, Apr, May cycle) right ?

its in tnc also, reference month is feb. you get step up and debit spend interest, but you may incur fall below fee of $50 for $100k

 

[oceanicmanta]

still separate, but if you use the same names to setup the same single and joint account for premier and EGA, TRB will kick in.

For example last time you have single and joint, so TRB no effect and they are considered separate relationships

However now if you setup single and joint account under same names for EGA, TRB will kick in - whatever balance you have under single name in Premier will apply to your single name in EGA. same for joint names..it took me awhile to understand too.

just for my own understanding ... for purpose of this promo,

1) Joint (A+B) EGA TRB will not be counted towards Single (A) EGA TRB

2) Joint (A+B) EGA TRB will count towards Joint (A+B) Premier TRB (and vice versa)

3) Single A EGA TRB will count towards Single A Premier TRB (and vice versa)

Correct ?

 

[arctician]

just for my own understanding ... for purpose of this promo,

1) Joint (A+B) EGA TRB will not be counted towards Single (A) EGA TRB

2) Joint (A+B) EGA TRB will count towards Joint (A+B) Premier TRB (and vice versa)

3) Single A EGA TRB will count towards Single A Premier TRB (and vice versa)

Correct ?

yea correct. Actually i not hsbc bank staff, best to get confirmation from them

 

[Squaredot]

just for my own understanding ... for purpose of this promo,

1) Joint (A+B) EGA TRB will not be counted towards Single (A) EGA TRB

2) Joint (A+B) EGA TRB will count towards Joint (A+B) Premier TRB (and vice versa)

3) Single A EGA TRB will count towards Single A Premier TRB (and vice versa)

Correct ?

Thanks arctician and ocean for the summary!
I shall keep this to remind my rusty brain

 

[newdestoria]

Roadshows:

6 Jun - 8 Jun at
Claymore, Suntec City, Serangoon and Marine Parade branches.

6 Jun - 7 Jun at Raffles Place branch.

New Premier relationship:
$400 cash credit + $200 Capitaland voucher + Other Reward (pls pm me for details)

Existing Premier:
$200 capitaland voucher for $200k topup to existing premier.

Thanks. I only have advance account, can qualify for any roadshow gift?

 

[autumm]

I will be expecting refund on my debit card for a transaction in May. Do you think it will jeopardize the debit spend bonus interest when it’s due to be given in 2 months? The refund will cause the total spend to be below $800

 

[oceanicmanta]

Thanks. I only have advance account, can qualify for any roadshow gift?

yes, i believe past roadshows open to Advance as well ... but best check before going down

looking at EGA step up promo, it seems Advance accounts have a better deal in that dont need to keep 200k for Premier ... same 2% Step Up + 2% Debit spend ... so on 100k, can get 4% ! while Premier only 3% on 200k

 

[oceanicmanta]

I will be expecting refund on my debit card for a transaction in May. Do you think it will jeopardize the debit spend bonus interest when it’s due to be given in 2 months? The refund will cause the total spend to be below $800

never encountered but most likely it will affect

i think can appeal when time comes ... u shld call them when your refund is posted & suggest you make up the spending in subsequent month