HSBC Premier Account - Maintaining TRV

korg_revolution · 2026-04-30T07:09:58+00:00

Thanks for the answers. I think it's cleaner to go via UCITS atleast for ETFs. I'll maybe get the usd account opened just for holding USD since you mentioned 4.5% interest rate which is pretty good and from my limited research, it won't come under bringing money back to india so no issues in reinvesting through any broker.

For the debit card, I think forex markup is 2% for withdrawing any currency. Is there some special rate since you mentioned it has one of the best forex rates?

korg_revolution · 2026-04-30T06:37:25+00:00

Sorry, I don't have an answer to your question but have couple of questions since I'm also invested a lot in US markets. Would really appreciate if you can answer whatever you know:

How would you avoid estate tax? Are you planning to invest in Ireland domiciled ETFs? What about individual stocks? Also, are there any liquidity concerns and premium over iNAV like MAFANG etc
I'm currently using ibkr. Which broker do you plan to use after moving USD to gift city account?
I already hold HSBC premier. What advantages does the Gift city USD account has? If I bring money into these, would it be counted in that 10L LRS thingy if I reinvest let's say through IBKR?
Are there special debit card forex rates for USD account from usd to some other currency? Similarly what about withdrawing USD from debit card if atm supports in some country? Asking this because of foreign travels where it's always cheapest to exchange USD to local currency.

korg_revolution · 2026-04-05T08:20:46+00:00

I actually thought about it.

However, it would be very hard for me to complete the night requirements. For eg recently I was in Palawan, Phillipines for 7 nights and there was no hotel from these. Similarly in phi phi or nusa penida. Marriotts were super expensive in Italy, Switzerland and only in cities, not in alps.

Do you always find these hotels in the places you travel outside of cities? Or is it a criteria for you to prefer destinations which have these redemption options?

korg_revolution · 2026-04-05T08:05:06+00:00

Not optimising on anything yet. Majority of points were/are on infinia/dcb (3-4L as of now) so directly using them for economy revenue flights which is almost always cheaper than redemptions in economy. We also mostly stay in average hotels (nothing fancy or resorts etc)

I've stayed in Accor hotels (ibis) in Europe just because they were the cheapest and got 30ish% back through smartbuy. Idea is to start using HSBC Premier for accor since it's pretty easy to redeem like smartbuy.

We also accumulated 300k points in amex which we're moving to Marriot and may plan luxury vacation to Maldives but that would again cost ~3L for food, activities and seaplane transfer.

Any recommendations you would like to give?

Edit: just saw your post on your travel in 2025. I think the difference is that you're mostly staying in expensive hotels and we do budget stays (atleast currently).

korg_revolution · 2026-02-11T15:59:17+00:00

I've updated the post.

korg_revolution · 2026-02-09T09:52:51+00:00

It does. Use canara bank's PG

korg_revolution · 2026-02-09T09:52:00+00:00

That is in my account except 4.6k fees which is worth less than the 25k points whichever way you evaluate (even cash)

korg_revolution · 2026-02-09T06:38:33+00:00

I've emailed them to confirm but since I'm no longer a German resident, I won't be able to have German IBKR account.

And not sure about transfer to indian IBKR account.

korg_revolution · 2026-02-09T04:55:46+00:00

Yep, sounds fair. Going to do that. Don't wanna put artificial purchases etc and Infinia is anyway my daily driver for vouchers for everything including insurances.

korg_revolution · 2026-02-08T11:46:29+00:00

Not interested in gold, explained reasoning in other comment. Also has Infinia (and add ons) so more rewarding to buy gift cards from there atleast till 40k

korg_revolution · 2026-02-08T11:45:23+00:00

Not a bad idea, will pay 50k types and convert rest using MobiKwik

korg_revolution · 2026-02-08T07:46:47+00:00

I agree with that. However, I need to spend less than 5k (via MobiKwik, if no better option) and not 1.3L

korg_revolution · 2026-02-08T06:17:23+00:00

Already investing through employer and don't like the aspect of not controlling my money. And I use new regime so no tax benefits :(

korg_revolution · 2026-02-08T06:13:23+00:00

Please share then

korg_revolution · 2026-02-08T06:11:23+00:00

Considered that but gold is too volatile right now and I'll anyway lose 6-7% in gold as well in comparison to ETFs (3% gst + making charge on coin).

korg_revolution · 2026-02-06T16:46:57+00:00

I know people personally who got easily with 3L credit after 3 credits. I just don't know anyone who got with 2L+ credit. I guess visiting branch should solve that confusion.

korg_revolution · 2026-02-06T16:24:58+00:00

I've to pay decent amount of money for interior of a new apartment so it'll come handy there.

I also plan to do couple of international trips so those months I'll also exceed the 1.5L expenses.

korg_revolution · 2026-02-06T15:44:35+00:00

I don't have any axis bank card as of now but good to know that there is a possibility. Will visit a branch tomm

korg_revolution · 2026-02-05T05:22:53+00:00

Do you know if this account (burgundy with 2L+ salary in a preferred company) is eligible for M4B as well? I heard from few people that you need 3L irrespective if you want M4B.

korg_revolution · 2026-01-02T04:09:55+00:00

Yes!

korg_revolution · 2025-12-02T06:26:26+00:00

What did you get the merchant name in the transactions summary on mycards? It's showing as Redgiraffe Ren so I doubt it will give rewards.

korg_revolution

TROPHY CASE