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

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  1. #21

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    Has anyone successfully linked two Octopus cards with their name with two different PrimeCredit EarnMore UnionPay cards? My personalized octopus is linked with my wife's PrimeCredit card, but I was wondering if you think despite Octopus' wording if they'll let me link another octopus card to my name with the same financial institution, PrimeCredit, with two different credit cards?

    Has anyone done this with SC?

    Some relevant terms at https://www.octopus.com.hk/en/consum...avs/index.html

    and within the AAVS application form:
    Name:  Screenshot_2020-07-06-06-51-24-986_com.amazon.kindle.jpg
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    Having access to more Octopus cards with AAVS with a credit card that earns 2% on AAVS means I could get more cash back up to the number of Octopus cards I can use with O!ePay.


  2. #22

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    According to SC's website though as far as using SC's Simply Cash (1.5% cash back credit card) "Effective from 25 November 2016, any transfer / top up transaction from Standard Chartered / MANHATTAN Credit Card(s) to the Octopus O! ePay Account will not be entitled to any reward(s) earning including but not limited to 360° Rewards Point(s), bonus point(s), CashBack, mile(s)."

    https://www.sc.com/hk/campaign/oepay/

    Thus, even though SC makes it very easy to top-up an O!ePay account with an SC credit card doing so doesn't earn rewards, but it could still be essentially a fairly short, but free cash advance up to the limit you can top-up.

    @bdw do you get cash back or miles when using O!ePay with an SC credit card? Or do you only get rewards when you top-up via AAVS, so thus you're limited to 500HKD per day per AAVS Octopus card?


  3. #23
    bdw
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    Quote Originally Posted by LoganH:
    According to SC's website though as far as using SC's Simply Cash (1.5% cash back credit card) "Effective from 25 November 2016, any transfer / top up transaction from Standard Chartered / MANHATTAN Credit Card(s) to the Octopus O! ePay Account will not be entitled to any reward(s) earning including but not limited to 360° Rewards Point(s), bonus point(s), CashBack, mile(s)."

    https://www.sc.com/hk/campaign/oepay/

    Thus, even though SC makes it very easy to top-up an O!ePay account with an SC credit card doing so doesn't earn rewards, but it could still be essentially a fairly short, but free cash advance up to the limit you can top-up.

    @bdw do you get cash back or miles when using O!ePay with an SC credit card? Or do you only get rewards when you top-up via AAVS, so thus you're limited to 500HKD per day per AAVS Octopus card?
    Yeah I don't bother to link my SC account to O!epay through internet banking because they don't give any points for these kind of transfers. I only topup my O!epay account through the AAVS (by physically beeping my octopus card on the back of my phone). $500 per day ($4k per month limit). This is the way to scam them to get free points. I have the SC simply cash card which gives 1.5% cash back every time I beep my octopus on the back of my phone.

  4. #24

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    I didn't hit the 3,000HKD per month limit last month, and I upgraded my O!ePay account to an O!ePay Pro account, but the 3,000HKD per month limit is the same. So after transferring out 3,000HKD via P2P or the Transfer out functionality in the Octopus app, Octopus charges a 1% transaction fee on all the amounts transferred out about 3,000HKD.


  5. #25
    bdw
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    Quote Originally Posted by LoganH:
    I didn't hit the 3,000HKD per month limit last month, and I upgraded my O!ePay account to an O!ePay Pro account, but the 3,000HKD per month limit is the same. So after transferring out 3,000HKD via P2P or the Transfer out functionality in the Octopus app, Octopus charges a 1% transaction fee on all the amounts transferred out about 3,000HKD.

    It used to be $4k per month. Now its $3k per month. This is obviously to limit the amount of scamming that sneaky bastards like you and I can get away with. But they can never shut down this loophole entirely without completely stopping the reward program for AAVS altogether, which would piss off a lot of regular non sneaky bastard people.

  6. #26

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    To follow up with this thread, I hit a new 10,000HKD monthly limit I wasn't previously aware of. I now see you can read about it at under #4, and then by hovering over the question mark after "Monthly fund transfer limit from Registered Octopus" at https://www.octopus.com.hk/en/consum...out-oepay.htmlYou can only transfer in up to 10,000HKD in total per month from Octopus cards into your O!ePay account.

    If your HK tax bill isn't too high and your AAVS credit card issuer normally doesn't let you earn points/miles/cashback from paying HK taxes with it, you could transfer up to 500HKD per day using AAVS or 1,000HKD per day if you have two Octopus cards with AAVS (maybe your spouse's card if they'll let you or maybe you have two+ yourself). You can check out more details about what you can do with AAVS with different banks/credit card issuers at https://www.octopus.com.hk/en/consum...g-methods.html I personally haven't tried registering multiple octopus cards in my name with the same financial institution, but that might be worth trying for you.

    Anyway, one game/trick is to essentially add as much money as you can using AAVS with an NFC-enabled Android phone into your O!ePay Pro account (do all the things necessary to upgrade to O!ePay Pro). Then you can use your O!ePay balance to pay your HK Tax bill (just scan the QR code on your HK tax bill within the Octopus app), or you could at least pay some of it (I haven't tried a partial payment yet). Going through all these hoops means you earn the same amount you do on AAVS (2% with a PrimeCredit EarnMore UnionPay card) as that amount you can pay the IRD with your O!ePay balance (that you added to using AAVS).

    I also believe paying your IRD bill doesn't hit the same 10,000HKD a month limit as the one I did when I just added to my O!ePay account and then transferred my O!ePay balance out to my mortgage linked savings plan, which I did to earn a tiny bit more on interest (H+1.24%) until my AAVS credit card payment is due. This is probably not worth it to most, but for me it's an amusing game.

    Happy playing/earning!

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  7. #27

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    Hi,

    I don't found option to add my primecredit earn more credit card (Union Pay) in O! ePay account. Though I can successfully connect octopus with my bank account.

    How you connected your credit card with O! ePay account ?

    Is only 'personalized' octopus card can be associated with credit card ?
    If yes, then how to do it and what are benefits of having personalized Octopus ?

    I have tried to contact Octopus customer care but there is no option to talk any human.

    Thanks in advance

    Quote Originally Posted by LoganH:
    @bdw inspired this thread.

    So I tried using O!ePay within the Octopus app for the first time yesterday with my wife's NFC-enabled Android phone. We could deduct at least 500HKD from each of our personalized Octopus cards that are linked to her PrimeCredit UnionPay EarnMore card, which earns 2% on all purchases in HK including AAVS, which as far as I know is the highest available (please tell me of a card that earns more).

    SC's Simply Cash card earns 1.5%, but PrimeCredit's card is still better and worth it, in my opinion, even with the annoyance of no login website (we still haven't downloaded their OmyApp) and their website and online application forms only being in Chinese. I wait for their paper statement in the mail and use Planto (I like it, but it has issues) to check on the PrimeCredit spending.

    With O!ePay, you can set up FPS with a bank account, and you transfer money in and out of your O!ePay account. If you transfer 1,000HKD (two personalized Octopus cards linked with AAVS) that's a 20HKD reward for moving money from your Octopus cards to O!ePay and then FPS out to a bank account (unfortunately ICBC (Asia) isn't one of them, but HSBC, HS, and most other major HK banks work with O!ePay via FPS). It's definitely not going to make you rich, and maybe not worth the hassle for most, but if it's amusing to you and you treat it like a game, then I can recommend trying it.

    @bdw mentioned figuring out a way to use O!ePay to pay his mortgage, which I'll assume is with SC. The O!ePay has a specific designated link to SC Mobile, so maybe it's even easier to use like a SC Simply Cash card, use a personalized Octopus card linked via AAVS with your SC Simply Cash, add up to 500HKD (maybe you can figure out how to do more in a day) via your Octopus card to O!ePay, and then transfer your O!ePay balance to your SC bank account, which pays your mortgage (I'm assuming as I don't have an SC credit card or bank account). The Octopus app mentions that if you transfer out more than 3,000HKD of your O!ePay to a bank account, you'll get charged a 1% fee, but if you earn 2% via AAVS then you effectively can keep earning 1% until you hit your credit limit and/or you give up wasting your time on this method.

    I didn't get in on the game with using HSBC's Payme app before HSBC closed the loophole, but I guess you can still transfer 2,000 out of your credit card, move it to a mortgage linked savings account, and earn a bit of interest before needing to actually pay off your credit card. Again it's probably more hassle than it's worth for most, but if you like trying to play games to skim off a bit from financial institutions, then it can be amusing for some.

    Any other ideas for skimming a bit off of financial institutions, but that are probably more hassle than they're worth? Credit card sign-up bonuses in HK are paltry compared to sign-up bonuses for many U.S. credit cards, but I guess getting credit card sign-up bonuses even if they're relatively meager can be amusing enough for some. The other issue in HK with credit cards is that they aren't nearly as widely accepted compared to the U.S. and plenty of other places that don't actually like the security issues involving handling lots of physical cash. If you only spend at places that take almost any kind of credit card in HK, then you could probably save a lot more money by changing your spending habits than playing skimming games.

  8. #28

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    Quote Originally Posted by aisankit:
    I don't found option to add my primecredit earn more credit card (Union Pay) in O! ePay account. Though I can successfully connect octopus with my bank account.
    I didn't say you could add a PrimeCredit EarnMore card directly to your O!ePay account. You link your octopus card via AAVS to your PrimeCredit EarnMore. You can see the AAVS online application to do that if you'd like at https://online.primecredit.com/sta/c...d_addaavs.html (it's only in Chinese, but Google translate works well enough)

    Question 2 on Octopus's website says:
    Which types of Octopus can be linked with the Automatic Add Value Service (AAVS)? AAVS can be linked with all types of Octopus.
    You can read more at
    https://www.octopus.com.hk/en/consum...g-methods.html

    The main benefit of a personalized octopus card was that if you lose it, you can report your loss and any value minus some admin fees can be transferred to a new personalized octopus card or you can get the cash at an MTR station. However reading through the updated Octopus' reporting lost form it looks like any AAVS linked octopus card can do this. Thus, the only benefit of personalizing an octopus card is to have your picture on it.

    I've called Octopus' reporting lost Octopus hotline before, but otherwise I haven't needed to talk to someone, but their contact page is at https://www.octopus.com.hk/en/consum...-us/index.html


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  9. #29

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    Quote Originally Posted by LoganH:
    To follow up with this thread, I hit a new 10,000HKD monthly limit I wasn't previously aware of. I now see you can read about it at under #4, and then by hovering over the question mark after "Monthly fund transfer limit from Registered Octopus" at https://www.octopus.com.hk/en/consum...out-oepay.htmlYou can only transfer in up to 10,000HKD in total per month from Octopus cards into your O!ePay account.
    I hit yet another 10,000HKD limit. This time the error was unclear as essentially when I tried to transfer in money that would have made my O!ePay balance go over 10,000HKD it said "Service is unavailable at this time", which I don't appreciate because that's not what was going on. I had a 9,996HKD O!ePay balance and I was trying to transfer in more than 4HKD.

    Anyway, I sent my 10k off to the IRD for my 18/19 + 19/20 Provisional tax payment, but my plan of overpaying a bunch in one go isn't possible due to the 10k limit. I think I might stop playing this game at some point.

    Essentially this transferring in game has significant limits, but they are fairly clear in the same FAQ. This time I needed to understand question #2 instead of #4.

  10. #30

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    So overpaying your HK taxes should result in you eventually getting a refund check, but you might have to go through some hoops and wait a while.

    I got these:

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