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Email this9:03 am
December 22, 2022
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Lodown said
Has anyone who received their Interest for this promo confirm:a. on what days of the month Interest deposits were made; and
b. that the total interest adds up to 6.35%
I had the same question so I called them and I was told that the interest is paid depending on your particular account cycle. Meaning it's dependent on when you opened your account.
12:00 pm
August 16, 2022
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I opened this account late, not until November 14th and was expecting the interest on December 1st. I called and the answer was just like it was reported here, depending on when you opened it. So in my case, November 14th until December 14th. The interest was not paid on December 14th so I called again and tge said it woukd be next business day which is today, December 15th. Do you think I have my interest? Nope. So, is it at the conclusion of the day or what? I don't know. First time I've delt with them and it will be the last. At least with Duca whom I moved my money from because of the debacle rate change after receiving email that there was no end date to the 6.25% and then 2 days later they change. Duca pays your interest almost immediately on the pay date. I've seen my interest be paid at 12:30am. Anyways, if anybody knows when I will get my interest I'd appreciate it. Thanks
1:05 pm
March 14, 2023
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Weird that HSBC has an account cycle that is based on account open date. I have no experience with HSBC so can't comment on time of day of interest posting.
I know this isn't the DUCA forum, but I'd like to know what you received from them that had no end date to the 6.25% rate. Can you share?
1:14 pm
March 16, 2018
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Moneyman2 said
Anyways, if anybody knows when I will get my interest I'd appreciate it. Thanks
For me, typically regular interest (pays up to 14th of the month), will be posted on the 15th, and then promo interest (pays up to the 15th of the month) will be posted on the 16th. However, if I don't remember wrong, interest posting will only be done on a business day. Looks like I won't see my promo interest until next Monday.
2:14 pm
August 16, 2022
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Transfer online, hassle free
Tired of the hassle of calling to transfer-in new funds? No time to visit a branch? Personal and business banking Members will have the autonomy to independently transfer-in new funds to their 2023-2024 Earn More Promo account using the following 3-digital options:
Me-2-Me transfer
E-Transfer
Mobile Remote Cheque Deposit
Review transfer limits here.
No end date
We're pleased to inform you that we've eliminated the end date, allowing you to enjoy the promotion without any time restrictions.
Self-serve account opening
Personal Members will be able to conveniently open a 2023-2024 Earn More Promo Account directly through their online banking platform with just a few clicks.
2:25 pm
March 14, 2023
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Thanks. Much appreciated. I didn't receive such a communication from DUCA. I'll contact them see if that 'No end date' means the promo and/or the rate.
(Not intended to derail the HSBC discussion)
2:56 pm
April 6, 2013
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cgouimet reported and posted a screenshot of the e-mail from DUCA.
The wording matches what Moneyman2 wrote.
3:09 pm
April 6, 2013
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Moneyman2 said
I opened this account late, not until November 14th and was expecting the interest on December 1st. I called and the answer was just like it was reported here, depending on when you opened it. So in my case, November 14th until December 14th. The interest was not paid on December 14th so I called again and tge said it woukd be next business day which is today, December 15th. Do you think I have my interest? Nope. …
Was the account opened November 14 before the end of HSBC Bank's business day?
If it was opened too late in the day of November 14, then the account would be effectively opened the next bubsiness day, November 15.
Some banks use the account opening date for the monthly interest payment date and the monthly account statement date to spread the backoffice work. Provinces do somethng similar by having drivers licenses expire on driver's birthday instead of on the last day of the calendar year.
8:16 pm
April 14, 2021
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Wrayzor said
Weird that HSBC has an account cycle that is based on account open date. I have no experience with HSBC so can't comment on time of day of interest posting.
I do not think that HSBC account cycle is based upon account opening date. I think that it is either date of birth or name.
4:57 am
September 29, 2017
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Moneyman2 said
... At least with Duca whom I moved my money from because of the debacle rate change after receiving email that there was no end date to the 6.25% and then 2 days later they change. ...
I think more people need to file a complaint with the FSRAO about the shenanigans that went on with this promo. I DID. Because the initial invite had a fixed term, and stated that "You WILL earn...6.25%"..."...until Jan 31, 2024". Different wording than and even handling of past promotions.
See my post about this and the thread that talks somewhat about this here:
https://www.highinterestsavings.ca/forum/duca-credit-union/duca-earn-more-promo-upgrade/page-6/#p92525
The FSRAO does not recover losses but if enough people do this, this will put a ding in their records, and may cause them to act honourably and make it up to their customers.
4:26 pm
August 16, 2022
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HSBC for this account is indeed based on when you opened the account. This promotion, if you read the fine print is 1.85% interest, plus a bonus of 4.50% =6.35% and it suppose to be paid separately. I did indeed get the 1.85% interest yesterday on my money but I have no clue when I'll get the 4.50% bonus interest. I hate this waiting game and them not being decisive. At least with Duca, you know what you're getting and when. But really didn't Luke the interest rate drip 2 days after confirming no end date on that promotion. I know they can change whenever they want but that was hogwash
4:42 pm
April 14, 2021
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Last month, I received my bonus interest one business say after I received my regular interest on the 14th. I received my interest on the 15th, this month. I expect my bonus interest to arrive on Monday.
5:23 pm
August 16, 2022
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That's what I figured. I definitely will be checking and I'll let you know. Thanks
5:57 pm
August 16, 2022
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Norman & Herman, you both were correct. I just received my bonus interest at 8:45pm tonight. So I opened this account on the 14th, regular interest is paid up until the following 14th and deposited on the next business day(15th). Bonus interest is paided up until the 15th and deposited next business day(16th). Spoke with a guy earlier that worked for HSBC and was in China and he said I definitely would have by the end of the day. So I'm good.
6:18 pm
April 14, 2021
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I got my bonus interest today, too, and it was precise to-the-penny. 
8:20 am
December 19, 2023
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Maybe this has already been covered, but I cannot seem to find a definitive answer. It is clear that the promotion is from October 16, 2023 to January 12, 2024, but it is not clear how long the bonus interest will be paid. Does the bonus interest stop on January 12? I currently have $ in Tangerine @ 6% until Jan 31, and am looking for the next good parking spot.
6:18 pm
August 16, 2022
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That's the promotion. 6.35%
1.85% regular + 4.50% bonus. All ends January 12th. Obviously, they'll have some kind of rate/new rate starting after that date. Interesting to see if it still above 5% or not. If not I'll probably lock in a couple of GIC's somewhere or go back to Duca as long as it is 5.75% or better. Seems rates are dropping a little bit lately. Might be time to lock in. ✌️
10:00 am
July 9, 2020
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Reminder to those who had the promo ending Jan 12/24 to check for regular and bonus interest ... for a few above, that should be Jan 15-17(ish). I transferred my principle out on Jan 12/24, but will want to also transfer out the interest when paid. No promo, no money stays at HSBC. 🙂
12:30 pm
April 14, 2021
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Did the same. I moved everything out on Jan 12, even though I lost the last day of eligibility. I still got 6% at Tang for the funds. So, only a 1/3% loss for a day. No promo, no money at HSBC.
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