FYI: HSBC Online-Only Savings 4.25% APY

What it says isn’t that it’s an “intro” rate. It’s basically just a legal disclaimer that the rate will change in the future based on the economy. I.e. it won’t be 4.25% APY forever.

Etrade is 5.05% APY.

I think ING is 4.10 APY right now, probably lower than the rest. I’m too lazy to switch, since I already have direct deposit set up.

lol sam who pissed in your cheerios?

honestly i’ve never banked with m&t, HOWEVER, many of my friends do and they constantly have issues with stupid things. Overdraft fees and other random charges that they cannot get rid of. Yes I realize MOST of these things are based off of retarded errors by the consumer, however they don’t appear to be flexible at all on working with the customers.

I have banked with HSBC my whole life, and they have always treated me well. I have NEVER paid an overdraft, or overlimit fee. I’ve overdrawn or overlimited my CC, or paid late before and they have always reversed the charge with a phone call. To me, that is awesome.

Additionally… HSBC employs a few people in buffalo as well ya know, that gigantic building isn’t there for show :stuck_out_tongue:

I’ve had HSBC my whole life. My wife has had M&T her whole life.

From my average consumer point of view:
They’re both banks. They both do the same shit. They both offer the same services. Neither is better nor worse.

But there are more HSBC branches, which is convenient. Plus they’re worldwide, and so am I. :pimp:

Dear THOMAS,

We are writing to inform you that based on the recent drop by the Federal Reserve, HSBC Direct has adjusted your Online Savings Account rate to 3.80% APY*. At 8x the national savings average**, you are still earning one of America’s highest savings rates.

HSBC Direct will continue to evaluate and respond to market changes so we can provide you with competitive rates. And if your rate changes, whether up or down, we are committed to always letting you know.

You can feel confident knowing your savings are with HSBC Direct. We’re part of HSBC Group, one of the largest financial institutions in the world, and have over 140 years of experience helping customers manage their savings.

We sincerely appreciate you saving with HSBC Direct.

Jean Carrow
Vice President
Customer Relationship Center
HSBC Direct

HSBC Direct deposit accounts offered by HSBC Bank USA, N.A. Member FDIC. Deposits are insured to the maximum permitted by law.

*Annual Percentage Yield (APY) for the Online Savings Account is accurate as of 1/29/2008. APY is variable and subject to change. Minimum balance to open is $1.00.

** National savings average courtesy of Bankrate.com as of 1/29/2008.

ABOUT THIS MESSAGE
This email was sent to:
Thomas.bartczak@gmail.com
for account ending in 7603.

You received this email notification because you have opened an HSBC Direct Account through hsbcdirect.com.

ACCOUNT-RELATED QUESTIONS
Do not reply to this email with account–related questions. If you wish to submit an account-related question electronically, please log-in to Internet Banking and click BankMail.

The source of this email alert notice is HSBC Bank USA, N.A.

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P.O. Box 4045
Buffalo, NY 14240.

Our phone number: 1-888-404-4050

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i get cranky from time to time :wink:

all online savings account interest rates are currently dropping for obvious economic reasons.

M&T Holding on @ 4.05 APY… though not for long - the fed is expected tomake another 1/4 cut.

yep - i knew 5%+ wouldn’t hold… risk free 5% just isn’t sustainable over the long term.

Etrade is the shittiest company in the world to deal with.

I tried to open a savings account with them and fund it with ten grand.

I opened it online, then heard nothing for 2 weeks.

I called the number, and got put on hold for 30 minutes, before just hanging up.

A month later, I got a xeroxed letter in the mail, with multiple answers on it, and the one that applied to me was just circled in blue pen.

Basically they say my credit was not worthy to open an account with them (over 700 credit score).

So anyways, I said fuck them and opened one with hsbc.

No problems since.

I have had the HSBC online saving account since it came out. The bank has given me close to $1000 to store my money for me.

M+T keep messing up my checking account I had with them when I was young so F-them. They kept charging me $20 because they thought my account was inactive. This was their mistake, I would deposit my checks into the account weekly and over a period of about 8 months they charged me the $20 fee twice, so I told them got my money and closed out the account. Ever since then its been HSBC for most everything.

Also the cash back credit cards are nice too. :slight_smile:

My HSBC savings generally has a higher rate then most 1 year cd’s and I can actually use my money any time I want to.

not anymore it isn’t. the last year or so when this was actually the case was extremely rare.

oh definately. They can only pay out based on what they are collecting. Net Interest margin gets razor thin when loan rates drop.

i started a year and a half ago with internet savings, i got a firm 6.0% on my account, and overall i have 4 with hsbc, also my credit card had a year of no interest which expires in april, but i had a 4k credit line, bought my engine etc books for the enxt year and any parts i needed and ive been paying it off like a small loan over the last 9 months, payed off 9500 bux, worked out really well

theyre doing it again for noobs to their credit card except now its 6 months

I’m sorry, what?

You took out a credit card @ 0% and deposited the funds into a 6% svgs? Then paid the card off before the promo expired?

Congrats! I’m glad you paid it off before the end of the promo.

no you completely miss understood me

i hav 6% back on my savings

and the credit card i just threw in there, just saying they have some good deals, just not as good as last year

Phew… cause I really hope that you weren’t suggesting the card into savings move is a good idea.

So, this thread is not about credit cards. :stuck_out_tongue:

And why would that be a bad idea?

BTW - FNBO now @ 4.30%

+1 Most discount brokers pay a higher rates than the banks and they do have check cards. More $$$$$:pimp:

KK