HSBC Online Savings rate is now at 5.05%

[Mavtek]

Originally posted by: Baked

Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.

You're not narrow minded, just racist, that's all.

He's racist because he wouldn't trust what he believes to be a Chinese entity with his money? Wow, personally I think you're playing a little too much into the race card here.

Lets see if I can put it in perspective for you, I'm white, but I sure as heck wouldn't trust a bank in Bosnia with my money (even though people there are predominantly white). I wouldn't trust a bank based in Afganistan, Iraq, Ethopia, Rwanda, Saudi Arabia, China, North Korea, Cuba, Mexico, Russia, Haiti, or Venezuela either. Does that make me a racists? I don't think so, I think that makes me smart. Lets face it, those countries governments aren't exactly designed to protect my money.

 

[Daroo]

Relax everyone. All these accounts are covered by FDIC. So even if these banks go down, you're covered by the US government... for whatever that is worth

 

[exm]

Originally posted by: Redterminator
Out of all the banks currently offering online savings rate in the 4% range (Emigrant, ING and HSBC) I'd say HSBC would be the one that I'd trust my money to the most.

ING is one of Europe's largest banks (and one of the worlds in fact) and sponsors the NYC Marathon. So they're pretty reliable also!

 

[OhNoPoPo]

Originally posted by: Mavtek

Originally posted by: Baked

Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.

You're not narrow minded, just racist, that's all.

He's racist because he wouldn't trust what he believes to be a Chinese entity with his money? Wow, personally I think you're playing a little too much into the race card here.

Lets see if I can put it in perspective for you, I'm white, but I sure as heck wouldn't trust a bank in Bosnia with my money (even though people there are predominantly white). I wouldn't trust a bank based in Afganistan, Iraq, Ethopia, Rwanda, Saudi Arabia, China, North Korea, Cuba, Mexico, Russia, Haiti, or Venezuela either. Does that make me a racists? I don't think so, I think that makes me smart. Lets face it, those countries governments aren't exactly designed to protect my money.

I guess not racist, then. Maybe just ignorant. And definitely not "smart" as you put it.

To be set up as a bank in the US, you have to jump through many hurdles. Plus they are FDIC insured.

 

[SilverTrine]

Trust me they're an English bank. They just happen to do a lot of business in Asia. For those who dont know the British used to own Hong Kong, a lil history lesson there.

 

[Redterminator]

Thanks, but no thanks Umbrellabank.com has my money and they are giving me %4.4 on an MMA.

The difference is my HSBC account is FDIC insured. It's not hard to get an MMA with similar interest rate but no other bank offesr insured savings accounts with this rate.

 

[novon]

I don't see the FDIC insured seal on the online savings account

 

[OhNoPoPo]

Oh man. Are all people this paranoid?

http://www.hsbcdirect.com/1/offer.htm?code=husa

Lower right hand corner.

 

[cutty]

There is also "Member FDIC" at very buttom of the page:
http://www.us.hsbc.com/1/2/3/personal
I'm not sure if "Member FDIC" is same as "FDIC issured"? Anyone knows?

 

[Nick5324]

I just saw a commerical for a HSBC savings account, now I see this thread. It's strange, the only other time I've heard of HSBC is when they send me a credit card offer each month. I always open it to get a laugh, as they offer me a line of credit with an APR of ~27%, well above the rates on my current lines of credit and offers other banks send me.

More on topic, great rate for a savings account.

 

[Mavtek]

Originally posted by: Redterminator

Thanks, but no thanks Umbrellabank.com has my money and they are giving me %4.4 on an MMA.

The difference is my HSBC account is FDIC insured. It's not hard to get an MMA with similar interest rate but no other bank offesr insured savings accounts with this rate.

Uh........ Umbrellabank is a division of New South Federal, check the link

http://www.umbrellabank.com/per_accounts/per_money_market.php

Please see FDIC logo at the bottom of the page.

 

[phils725]

Good deal for the rate, but I would never do business with them, ever. They are anti-semetics and have been reported to fund money to terroristic activity. I'll stick with emigrant and Ing.

 

[LDRunner]

Have both ED and HSBC. Interface is much better with HSBC, plus you can link the HSBC account to more outside accounts.

 

[Redterminator]

Originally posted by: Mavtek

Originally posted by: Redterminator

Thanks, but no thanks Umbrellabank.com has my money and they are giving me %4.4 on an MMA.

The difference is my HSBC account is FDIC insured. It's not hard to get an MMA with similar interest rate but no other bank offesr insured savings accounts with this rate.

Uh........ Umbrellabank is a division of New South Federal, check the link

http://www.umbrellabank.com/per_accounts/per_money_market.php

Please see FDIC logo at the bottom of the page.

It looks like that's not a true money market account. True money market accounts are not FDIC insured. But that sounds like a good rate too, not as good as my 4.5% but close.

 

[Xponential]

I'll stick with ING, thanks

 

[BlueFlamme]

Originally posted by: GeekySage
Does HSBC have any referral system? If the answer is yes, could somebody please send me a referral.

TIA.

Enter promo code start for a free $25 with no minimum deposit.

When they started asking for employer information I said decided it wasn't worth the hastle for the small difference over my ING account (Plus I'm planning to move most of it into a GNMA Fund earning 4.83% at Vanguard in a few months)

 

[abc]

Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.

You are narrow minded. From what I know, HSBC was always a British company.

They made their name and fame by doing their banking presence in primarily HK, during the decades that HK boomed in wealth from the hardworkers who were able to ditch China as Communism swept through in the 1950's.

It has used the same strategy in North America, buying out banks in cities with a Asian population.

It's like McDonalds.. you think you're going to a Irish restaurant

 

[abc]

Originally posted by: Baked

Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.

You're not narrow minded, just racist, that's all.

If it was said 'never trust a communist entity' with my money... it'd be more digestible.

But HSBC is not from China.

 

[abc]

Originally posted by: SilverTrine
Trust me they're an English bank. They just happen to do a lot of business in Asia. For those who dont know the British used to own Hong Kong, a lil history lesson there.

they had it as sorta a 'loan'.

 

[abc]

Originally posted by: kamranziadar
These rates need to go up more, like around 10%

that would suck all the money out of our economy.

 

[Satyrist]

Originally posted by: phils725
Good deal for the rate, but I would never do business with them, ever. They are anti-semetics and have been reported to fund money to terroristic activity. I'll stick with emigrant and Ing.

Source plz

 

[robsdeals]

Originally posted by: Redterminator

Originally posted by: Mavtek

Originally posted by: Redterminator

Thanks, but no thanks Umbrellabank.com has my money and they are giving me %4.4 on an MMA.

The difference is my HSBC account is FDIC insured. It's not hard to get an MMA with similar interest rate but no other bank offesr insured savings accounts with this rate.

Uh........ Umbrellabank is a division of New South Federal, check the link

http://www.umbrellabank.com/per_accounts/per_money_market.php

Please see FDIC logo at the bottom of the page.

It looks like that's not a true money market account. True money market accounts are not FDIC insured. But that sounds like a good rate too, not as good as my 4.5% but close.

4 Transfers from a Money Market account to another UmbrellaBank account, or to a third party financial institution, by preauthorized, automatic, telephone or computer transfer are limited to six per monthly statement cycle, with no more than three by check, draft, or similar order to a third party. If the account exceeds six transfers in a monthly statement cycle, a fee of $10.00 will be imposed per transfer.

 

[guy1nj]

THANKS. I JUST DID....

 

[EKKC]

hotter if you have a hsbc checking or savings account, i keep all my money online, and have about 1000 in checking for purchases, when im out i just dump some funds from online account on teh intarweb.

20k at 4% = about 60 a month. 4.25? only sweeter

 

[GeneValgene]

Originally posted by: BlueFlamme

Originally posted by: GeekySage
Does HSBC have any referral system? If the answer is yes, could somebody please send me a referral.

TIA.

Enter promo code start for a free $25 with no minimum deposit.

When they started asking for employer information I said decided it wasn't worth the hastle for the small difference over my ING account (Plus I'm planning to move most of it into a GNMA Fund earning 4.83% at Vanguard in a few months)

wait...what does the promo code 'husa' give you over 'start'?