HSBC Direct - 4.5% APY beginning May 1st
HSBC Direct Online Savings has been having a promotion for the last three months with a 4.8% APY. This has been the best interest rate offered for online savings accounts. Because the promotion is set to end on April 30, I have been awaiting an official statement on the non-promotional rate. And, it has been announced that it is 4.5%. This is a quote from the e-mail I received:
I recommend using HSBC for online savings because they offer the highest rates.We are writing to let you know that beginning May 1, 2006, your HSBCdirect Online Savings Account rate will change to 4.50% APY**. This is one of America's leading rates and still 8x the national average*, so you can continue to watch your money grow.
With HSBCdirect.com, there are no fees, no minimums, no lock-up period, and your money is FDIC insured.† You can stay confident your money is in the right place and earning the most it possibly can.
posted by JB @ 4:45 PM
6 comments
6 Comments:
You should check out Emigrant Direct. Their customer service plain sucks, but rates are usually better than HSBC or ING (if money market is your thing)
Thanks for the tip. I actually don't have an Emigrant Direct account yet. For now, the APY is the same as HSBC Direct (4.5%) but if they raise it higher than HSBC, I might sign up.
Is that promo code ("start") a newly issued one, or is that the one for the promo that ended in February?
I've been holding out on HSBC because I am trying to find a current promo code. I'd hate to miss out on some free money if I can find a current valid code. Thanks!
anonymous,
Thanks for the comment. Actually, after doing some research, it appears that the code "start" may be expired. There doesn't seem to be any active codes for a $25 bonus but one website reports that the code "ccs15" might work.
Hey, JB thanks for replying so fast. And thanks for trying to find a current code for me.
That ccs15 code looks old, too. So, since HSBC is currently the same rate as Emigrant Direct and HSBC charges $3 for withdrawals if you are not a customer and HSBC has no ATM's within 600 miles of me, I guess I'll just stick to ED and ING (great 12mon CD rates right now!!!)
Hope you have a great day!
anonymous,
I was a bit concerned about the $3.00 fee when I signed up for HSBC also. The Terms and Conditions state:
"The following Service Charges apply to all Consumer Checking and Savings Accounts when completing a transfer from HSBC to another financial institution. These charges do not apply to a customer that owns an OnlineSavings Account, HSBC Premier, or Domestic Private Banking account.
Fee Transaction -- $3.00 per transaction."
However, just so you know, it does not apply to the OnlineSavings account (it may have in the past) and I have not incurred any fees as a customer of HSBC's OnlineSavings.
I hope you have a great day too. :)
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