[FilipH]

This will seem incredibly newbie question, even a bit embarrassing but i rather be 100% sure of these things. Especially since HSBC in HK seems a bit tricky from time to time.

The question :

In my home country when i use a creditcard, at the end of the month my bank just takes what i used on my creditcard from my savingsaccount. This involves no work for me. as a result I never had a late pavement or an extra charge from my bank since there is always sufficient money on my saving or current account.

Is it the same here in HK?? Or should i have to pay these credit card bills manually? Maybe there some procedure i do not know about??


Thanks in advance





offtopic : So far hsbc is good to me, but my god these people like to sent unnecessary paper to me. got written confirmation for placed time deposits and stuff like that. seems totally unnecessary to me as i can verify it all online.

I even have received an 8 (!!!) page statement from my businessvantage creditcard showing i did not use it?? so 8 pages with zeros next to it?? wtf! As a fan of trees this is disturbing and a big waste.

[neha]

U can set up Auto debit for your HSBC Credit Card also.

[Konijntje]

you can also tick the box on internet banking for "e-statements and e-advice" that will cut down on a lot of papers being sent to you.

I agree that HK seems to be rather heavily paper based...still don't understand why electronic book transfers cost $5 (or $30) whereas depositing a cheque is free...

[PDLM]

When you set the credit card up I would have expected there to be an option to either take the minimum payment or the full amount from your savings account each month.

For a credit card which is part of an integrated account (PowerVantage, Premier, etc) then you don't have a separate Autopay instruction as far as I know - it is something you should specify when you set it up.

Your credit card statement should also have some text on it which will say something to the effect of "the full amount will be collected from your account on the due date" if you have the arrangement set up that way.

Why not just go into your HSBC branch and ask them?

[FilipH]

Originally Posted by Konijntje

you can also tick the box on internet banking for "e-statements and e-advice" that will cut down on a lot of papers being sent to you.

Good suggestion, just registered for it. PDF receipts really have my preference. Bedankt!

[FilipH]

Originally Posted by PDLM

For a credit card which is part of an integrated account (PowerVantage, Premier, etc) then you don't have a separate Autopay instruction as far as I know - it is something you should specify when you set it up.

I really thought that this is standard practise but good to know i should do this.

Originally Posted by PDLM

Your credit card statement should also have some text on it which will say something to the effect of "the full amount will be collected from your account on the due date" if you have the arrangement set up that way.

Don't see it, so i guess have to change it to that way.

Originally Posted by PDLM

Why not just go into your HSBC branch and ask them?

The premier center is great but the business department (seperate account) isn't really responsive. I'll try to get it both solved through the premier manager. Again, i know it's a bit of thick question but different country has different rules.

Thanks for the info though ! much appreciated.

[krypton]

Originally Posted by FilipH

Good suggestion, just registered for it. PDF receipts really have my preference. Bedankt!

Be warned, HSBC's way of encryption on these pdfs is extremely twisted. It works though.

[Konijntje]

Originally Posted by FilipH

Good suggestion, just registered for it. PDF receipts really have my preference. Bedankt!

graag gedaan...

[altralazer]

I hope you guys don't mind me adding a question here regarding HSBC credit cards :-)

Does anybody know what the interest rate is if I don't pay the entire amount due at the end of the month? I cannot find ANYTHING on their website. At one part there is a link to their "General tariffs" which just re-directs to the "Download Forms"-page.

Thanks for your replies in advance!

[PDLM]

Currently 26.81% APR on purchases.

HSBC Tariffs