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O!ePay AAVS Loophole with PrimeCredit's EarnMore CC + More Ideas Wanted

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  1. #11

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    Lol, we may need to break this thread down even further, as the US cards are a very special niche to those who can get them (which will be a small minority of people on this forum).


  2. #12

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    Quote Originally Posted by pin:
    US cards are a very special niche to those who can get them (which will be a small minority of people on this forum).
    I know there are at least a handful of U.S. citizens that regularly use this forum, but I don't know how many of them have an accessible U.S. address and excellent U.S. credit, but this forum seems like a nice way to try to potentially get to know a few and share some unique frustrations and some benefits of being U.S. citizens living and/or working in HK.
    Last edited by LoganH; 24-06-2020 at 06:24 PM.
    Paxbritannia likes this.

  3. #13

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    So with the O!ePay AAVS loophole I guess it could be potentially further utilized if you have access to more Octopus cards with AAVS enabled that are linked to your EarnMore PrimeCredit Union Pay card that earns an unlimited (correct me if I'm wrong) 2% on AAVS.

    The Octopus card app says there is a 3,000HKD a month limit (after that you pay a 1% fee) to transfer your O!ePay account balance via FPS to a bank account (most but not all HK banks are supported like ICBC (Asia) isn't supported). However, I can use the app's P2P functionality to transfer my O!ePay balance to my ICBC (Asia) mortgage linked savings account.

    O!ePay Plus users are limited to 100,000HKD in transfers per year, but if you apply to upgrade to O!ePay Pro maybe your total transfers become unlimited or I guess until someone stops you from utilizing AAVS and a 2% credit card to get a little bit of cash back by simply moving money around.

    Someone mentioned an account might get shut down for doing this, but that's also why it'd be nice to have more than one account (one for you and one for your partner (if you have one)).

    This method probably isn't worth most people's valuable time, but I'd rather play this moving money around game than Candy Crush or whatever games many people like wasting time playing that earn them 0HKD.

    bdw and Paxbritannia like this.

  4. #14

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    Jul 2011
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    I think the Citi Cashback Card too offers 1 or 1.5% CB if you bind the card to e-wallets like AliPay, WeChat or Payme. Top up to the limit on all three and transfer out via FPS.

    Like AAVS, does SC and PrimeCredit offer CB on wallet top ups too?


  5. #15

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    I haven't fully explored AliPay yet, but so far I've paid my government rent and rates using AliPay with a U.S. credit card that effectively earns 2.1% on all purchases. It seems like AliPay and O!ePay will let you scan most QR codes that are from HK government entities and those from at least large (CLP, Hong Kong Electric, and more) if not even small merchants and if you only have a credit card linked to AliPay it'll use that credit card (even if it's a U.S. Visa or MasterCard), but at least one time AliPay said it would charge a 3% fee for using a foreign credit card, but I haven't reproduced that issue lately. AliPay linked with a U.S. credit card also works at ParkNShop at least (I haven't tried many other merchants yet).

    I haven't explored WeChat top-ups yet.

    Payme only lets you top up 2,000HKD a month with a credit card (I tried adding two different U.S. credit cards and both times it didn't let me), so maybe Payme only works with an HK credit card, and I'm not sure if it works with PrimeCredit's Union Pay card. I think Payme credit card top ups might only work with Visa or MasterCards issued in HK. In that case SC's 1.5% Simply Cash Visa card might be the best option, but that's only 30HKD a month, so up to you if it's worth your time.

    Any other e-wallets besides AliPay, WeChat, and Payme in HK that allow credit card top ups without any fees on their end?


  6. #16

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    Tap&Go and TNG Wallet. I think Tap&Go does not allow card top ups at the moment. Both wallets are connected to FPS.


  7. #17

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    I think you rarely if ever get money for simply moving your own money around using FPS, which is why I'm focused on wallets that let you top up with a credit card without a fee to top up.


  8. #18

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    If you have a credit card bonus to hit with a minimum spending requirement and can't find a free way to hit it then TNG wallet top ups look like an option, but your sign up bonus needs to be better than their 2.5% credit card fee https://www.tngwallet.hk/en/schedule-of-fees


  9. #19

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    Jul 2011
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    Moving around money by FPS wont fetch $$ unless the wallet company involved has ongoing offers. The intent of using FPS is to move out funds from the wallet company (after card top up) to a commercial or virtual bank. Virtual bank will get you a higher rate of interest on your float, though the amounts involved will be marginal given the card top up caps at wallet cos. The only wallets that allow card top ups without fees seem to be Alipay, WeChat, Octopus, Payme and BOCPay (need to check).


  10. #20

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    Feb 2012
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    As a U.S. Citizen I find it more trouble than it's worth opening up new bank accounts, and I haven't found an HK bank that will let me open up a HK personal bank account online if I declare my U.S. tax residency and/or that I'm a U.S. citizen and/or that I was born in the U.S.

    However, Payme and Octopus don't care about any of that at least. I haven't tried AliPay, WeChat Pay, or BOCPay, but my wife uses a U.S. credit card (I made her an authorized user) with AliPay to pay for a number of things that otherwise you can't directly use a credit card to pay with, and that's been very helpful.

    Once I get my Chase Sapphire Preferred card (already approved), I'll try using AliPay with it to pay my HK taxes, and that'll help me hit my 4,000USD 3-month spending requirement to get my 600+USD sign-up bonus. I haven't figure out what's next after that, but I'm amused by the fairly straight-forward O!ePay 'game' using AAVS with PrimeCredit's card that earns 2% even on AAVS.


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