HSBC interest rate to 4.80% in response to ING

[Iceboy]

HSBC This is the company you are dealing with. Their parent company has more than 75 or 100 years history as a bank. I open one in Jan. 9 and got the interest at 4.6% on Feb. 3. Nice

 

[EKKC]

well, i say let the superficial people get screwed by ING. i'll get my interest money from hsbc

 

[mb]

I'm signing up for them now.. I don't like ING's wait and half-ass respond tactics... going from 3.75 to 3.8 in response to others going to 4.25 is kinda weak... I just hope HSBC will be easy to deal with like ING.

 

[Playmaker]

Anyone use a mobile phone on the HSBC application even though it says you're not supposed to? What's the deal with that? Who still has a landline phone outside of an office nowadays anyway?

 

[mb]

Originally posted by: Playmaker
Anyone use a mobile phone on the HSBC application even though it says you're not supposed to? What's the deal with that? Who still has a landline phone outside of an office nowadays anyway?

I did, and so far I haven't had a problem with them accepting my application... "Congratulations! You have been approved for your new HSBC Bank USA, N.A. account."

I'll be sure to update if anything changes, though I doubt it will.

 

[dr150]

Do you need to fund the account with a certain minimum in order to receive the $25 bonus?.......

 

[spyboy64]

Does HSBC offer a credit card with a 1.25% rebate like Emmigrant?

I think I will get this card. 1.25% rebate on most things, combined with 5% rebate on Discovery Gas card is hard to beat.

Not worth moving my $$$ from Emmigrant for this little promo.

 

[ectx]

Originally posted by: spyboy64
Does HSBC offer a credit card with a 1.25% rebate like Emmigrant?

I think I will get this card. 1.25% rebate on most things, combined with 5% rebate on Discovery Gas card is hard to beat.

Not worth moving my $$$ from Emmigrant for this little promo.

Do you need to have an Emmigrant account to use the card? If so, is thre a minium balance requirement?

 

[Sparke]

Yes, you need an Emigrant Direct account to get the cash back. It gets deposited right into the account every 6 months. And you need to maintain a minimum AVERAGE balance of $10,000 to get the full 1.25%, or it defaults back to 0.5%.

Other thread on Emigrant

 

[ECartman]

Get Chase or Citi card - 5% back on gas and groceries, 1% back on all else, and/or a Pentagon Federal Credit Union VISA (you may have to qualify for membership) which is a straight 1.25% back on everything with no gimmick (if you are a member of the credit union)

 

[Marthisdil]

Originally posted by: Sparke
Yes, you need an Emigrant Direct account to get the cash back. It gets deposited right into the account every 6 months. And you need to maintain a minimum AVERAGE balance of $10,000 to get the full 1.25%, or it defaults back to 0.5%.

Other thread on Emigrant

Tis why I like my Paypal account....4.38% interest, and 1.5% cash back on all card purchases using my paypal cc. Never had a problem with them....can't complain even if the interest is a little bit less.

 

[psteng19]

Originally posted by: WhipperSnapper

Is it just me, or does anyone else feel funny about sending their money to the "Hong Kong and Shanghai Banking Corporation"? What if they decide to screw you for some reason? Does it operate under American jurisdiction and subject to American federal laws?

HSBC has a TON of B&M branches all across NY state (mostly concentrated in the NYC/LI area), and they are FDIC insured.
I wouldn't worry about them running away with your money.

 

[ectx]

Tis why I like my Paypal account....4.38% interest, and 1.5% cash back on all card purchases using my paypal cc. Never had a problem with them....can't complain even if the interest is a little bit less.

Seems worth investigating. Thanks.

Can you provide a link? Paypal does not seem to promote the mma nor credit card (although I had received email from them before.. never remember anything about 1.5% cash back thouhg).

 

[Night201]

Originally posted by: Dracos
I'm sure ING will respond in kind...

ING was the first to go higher...HSBC is responding to ING!

 

[necine]

Originally posted by: ectx

Tis why I like my Paypal account....4.38% interest, and 1.5% cash back on all card purchases using my paypal cc. Never had a problem with them....can't complain even if the interest is a little bit less.

Seems worth investigating. Thanks.

Can you provide a link? Paypal does not seem to promote the mma nor credit card (although I had received email from them before.. never remember anything about 1.5% cash back thouhg).

They're not FDIC insured... if your money disappears ur screwed. Good luck.

 

[usernamemax20charact]

Thanks for the heads up.

I think I'll have to move all my money over to HSBC and cancell my ING account. ING seems to be lagging when it comes to bumping up their interest rate compared to others, and it doesn't seem to be as much as the others either.

 

[ectx]

They're not FDIC insured... if your money disappears ur screwed. Good luck.

Yes, I did find out. Thanks for the heads up. Given enough returns, I'd still consider it. All the funds, stocks etc work like that anyway.

 

[konichiwa]

Here's my question...I currently have all my savings money @ ING for their 4.8% promotion, but I have active accounts at both ING and Emigrant, and tend to keep most of my savings at Emigrant because their non-special yield is higher, but I keep a few weeks of more liquid funds in ING just because I can't stand the Emigrant interface -- it's such sh!t compared to ING

But with HSBC being pretty high with their special and higher than both ING and Emigrant normally (right?) I'm thinking of switching it ALL over to HSBC and closing out my Emigrant/ING

Anyone have any reason to dissuade me from doing this??

thanks for the help, financial gurus

 

[ncage]

Ok guys this is starting to be a pain in the butt to get this account set up. I set it up and they asked me every question in the world about my personal life. They then mail me my customer id/password seperatly which takes about 1.5 weeks. First of all my customerid is like 16 digits and my passwordk like 12 which is just a pain to enter. Now i try to log in and transfer money and it first ask me to create a security key...come on how secure does this thing need to be? Then it ask me for my ATM/Debit card number which i haven't received yet and its almost 2 weeks. Is this dang account going to take like years to set up or what?

 

[esquared]

Originally posted by: konichiwa
Here's my question...I currently have all my savings money @ ING for their 4.8% promotion, but I have active accounts at both ING and Emigrant, and tend to keep most of my savings at Emigrant because their non-special yield is higher, but I keep a few weeks of more liquid funds in ING just because I can't stand the Emigrant interface -- it's such sh!t compared to ING

But with HSBC being pretty high with their special and higher than both ING and Emigrant normally (right?) I'm thinking of switching it ALL over to HSBC and closing out my Emigrant/ING

Anyone have any reason to dissuade me from doing this??

thanks for the help, financial gurus

Nope, no reason from me?
But then again, I am not a financial guru. I was with ING since 2001 (still am), but HSBC's rate is consistantly so much higher that I moved most everything from ING to HSBC just because of the rate. Sure interface is a little easier at ING and moving money out of ING might be quicker (2 days vs 3 days I hear), but mo' money is mo' money. That's all there is to it for me.

 

[ECartman]

just one suggestion - why close ED and ING - there are no minimums. just keep em open in case you need to use them again.


btw I have a Presidential.com checking account-- 4.25% on checking -- so I can switch between ED, ING and HSBC using the Presidential checking as an intermediary with very little loss of any interest. Presidential doesnt put any hold on incoming EFT's. (There is a minimum balance of like $1K for Presidential checking).

 

[psteng19]

Originally posted by: konichiwa
Here's my question...I currently have all my savings money @ ING for their 4.8% promotion, but I have active accounts at both ING and Emigrant, and tend to keep most of my savings at Emigrant because their non-special yield is higher, but I keep a few weeks of more liquid funds in ING just because I can't stand the Emigrant interface -- it's such sh!t compared to ING

But with HSBC being pretty high with their special and higher than both ING and Emigrant normally (right?) I'm thinking of switching it ALL over to HSBC and closing out my Emigrant/ING

Anyone have any reason to dissuade me from doing this??

thanks for the help, financial gurus

HSBC seems to be very competitive in terms of raising their APR and beating out the competition with each increase.
Both their special and their normal APR is higher than ING, probably due to the fact that they are the bigger institution.
I say go for it.

Any reason you want to close out ING? Why not hang on to it by leaving a couple of bucks.

 

[mingsty]

Can someone look into this...It says that there is a $15 dollar fee for Funds transferred in? So everytime i make a deposit it charges me $15 bucks? Also says $30 for transfer out. Is this something special or just your normal deposits and withdrawals. Im a banking noob.


Fees

 

[esquared]

Originally posted by: mingsty
Can someone look into this...It says that there is a $15 dollar fee for Funds transferred in? So everytime i make a deposit it charges me $15 bucks? Also says $30 for transfer out. Is this something special or just your normal deposits and withdrawals. Im a banking noob.


Fees

No fees for the online savings, deposits or withdrawals. Those look like incoming and outgoing wire transfers fees.
Here is a more general set of features for the online savings account.
HSBC online savings
Here a general FAQ about it. Faq for online HSBC savings account
There are no charges for ACH transaction.

 

[Adonix]

There are no fees to transfer money in from HSBC side. There could be fees from the bank you are sending money from.