HSBC Online Savings rate is now at 5.05%

[ptaaty]

My brother is a financial planner and he has been recommending HSBC to many of his clients for short term solutions.

Both ING and HSBC are large reputable banks.

I have my saving there after seeing the great interest rates. I have no issues transferring from my Wells Fargo checking account (zero fee either way), or paycheck allotments.

Works well and has a secure system, with zero fees, and better rates than many short term CDs.

What's the problem again?

 

[Rumpltzer]

Originally posted by: ptaaty
My brother is a financial planner and he has been recommending HSBC to many of his clients for short term solutions.

Both ING and HSBC are large reputable banks.

I have my saving there after seeing the great interest rates. I have no issues transferring from my Wells Fargo checking account (zero fee either way), or paycheck allotments.

Works well and has a secure system, with zero fees, and better rates than many short term CDs.

What's the problem again?

I've had an ING account for over two years and an HSBC account since the beginning of this year. My biggest problem with HSBC was that opening the account (including access to transferring money) took a full month. ING was just about instantaneous if I remember correctly. That's a problem that goes away after a month, though, so it's not such a big deal.

My problem with HSBC now is that it takes about eight days to transfer money in or out of the account. ING took more like three or four days. It's true that I use the account mainly for savings storage, but I'm also transferring money in on a bi-weekly basis. It makes me uncomfortable to have that money in limbo for eight days, and that was enough of a reason for me to open a Citibank Savings account (5.00%) which is linked to my Citibank checking account. Now my transfers are instantaneous.

 

[saymyname]

The gap is getting bigger. My local hole in the wall bank is giving me 5.12% FDIC insured.

 

[saymyname]

The gap is getting bigger. My local hole in the wall bank is giving me 5.12% FDIC insured.

 

[esquared]

My problem with HSBC now is that it takes about eight days to transfer money in or out of the account.

My transfers have always taken just 3 business days for HSBC. If that happened to me I would call their customer service and find out what the problem is. That is not normal.
My transfer times are about the same as when I was using my ING account.

 

[ptaaty]

Mine takes 3 days with HSBC.

Yeah startup is a little slow, but it seems extremely secure...moreso than anything else I have tried.

 

[electrosoccertux]

HSBC has bad customer service, at least that was my experience when I called them last. But since most things are electronic there shouldn't be a problem with that, so long as nothing happens.

 

[Rumpltzer]

Originally posted by: esquared

My problem with HSBC now is that it takes about eight days to transfer money in or out of the account.

My transfers have always taken just 3 business days for HSBC. If that happened to me I would call their customer service and find out what the problem is. That is not normal.
My transfer times are about the same as when I was using my ING account.

Really?

Okay, I just looked. I have automatic transfers set up on a two week basis. The last four transfers took 7 days, 7 days, 6 days, and 8 days. To be fair, that's really only five business days.

I'm happy enough to pay 0.05% to have instant transfers with Citibank... for now.

 

[wickywicky]

Originally posted by: Schfifty Five
Did anyone open an HSCB account and was supposed to get a $25 BestBuy Gift card?

I just opened one up a couple weeks ago, everything is verified and I have transferred money already to the account, but no where did they mention anything about my BB GC...anyone else in the same boat as me?

just been a couple of weeks for me... i'll let ya know if/when i get it.

anyone else get theirs?

 

[Sparke]

Originally posted by: wickywicky

Originally posted by: Schfifty Five
Did anyone open an HSCB account and was supposed to get a $25 BestBuy Gift card?

I just opened one up a couple weeks ago, everything is verified and I have transferred money already to the account, but no where did they mention anything about my BB GC...anyone else in the same boat as me?

just been a couple of weeks for me... i'll let ya know if/when i get it.

anyone else get theirs?

I haven't yet. And remember, that deal is only for Best Buy credit card holders (as stated in the fine print).

 

[t4t3r]

i'm trying to decide between hsbc or emigrant. both rates are pretty close, what do you guys think?

 

[P0pinjay]

Been with ING for about 2 years now. They gave me 50 bucks to sign up so I couldn't resist. With the rate difference between them and HSBC, though, I think it's time to switch. I just checked out Emigrant and they're at 5.15%. Do you guys know if they're typically at a higher interest rate? I would tend to think they'd just go back and forth.

 

[WENEEDLIGHT]

Originally posted by: t4t3r
i'm trying to decide between hsbc or emigrant. both rates are pretty close, what do you guys think?

YEEEEEEEEEEEEEEEEE HSBC!

 

[MechaSheeba]

I signed up with HSBC and just discovered they charge $3 to transfer funds from an HSBC account to a non-HSBC account. It sounded like everything would be free from what people were saying, wish I woulda done a little more research before signing up. I would've picked a different bank, even with a lower APY, if they offered free outgoing transfers.

 

[esquared]

Originally posted by: MechaSheeba
I signed up with HSBC and just discovered they charge $3 to transfer funds from an HSBC account to a non-HSBC account. It sounded like everything would be free from what people were saying, wish I woulda done a little more research before signing up. I would've picked a different bank, even with a lower APY, if they offered free outgoing transfers.

This is not true. Look carefully at the HSBC Internet savings account FAQs. Many people thought this same thing in previous threads. I called up last year to verify this. It is not true. There is no charge for ACH transactions, which is what transferring from your bank to HSBC is, an ACH transaction.

 

[vgozz]

I double that. Had my account for about 2 months now, and never been charged for bank to bank transfer.

 

[MechaSheeba]

Originally posted by: esquared

Originally posted by: MechaSheeba
I signed up with HSBC and just discovered they charge $3 to transfer funds from an HSBC account to a non-HSBC account. It sounded like everything would be free from what people were saying, wish I woulda done a little more research before signing up. I would've picked a different bank, even with a lower APY, if they offered free outgoing transfers.

This is not true. Look carefully at the HSBC Internet savings account FAQs. Many people thought this same thing in previous threads. I called up last year to verify this. It is not true. There is no charge for ACH transactions, which is what transferring from your bank to HSBC is, an ACH transaction.

Transfers from your non-HSBC bank account to your HSBC account are free yes. But there's a $3 fee for transfers from your HSBC account to a non HSBC account. Text, I'm not just blowin smoke out my ass bud. They'll let you put money in for free all day long, it's when you wanna take it out is where they get you.

 

[esquared]

Originally posted by: MechaSheeba

Originally posted by: esquared

Originally posted by: MechaSheeba
I signed up with HSBC and just discovered they charge $3 to transfer funds from an HSBC account to a non-HSBC account. It sounded like everything would be free from what people were saying, wish I woulda done a little more research before signing up. I would've picked a different bank, even with a lower APY, if they offered free outgoing transfers.

This is not true. Look carefully at the HSBC Internet savings account FAQs. Many people thought this same thing in previous threads. I called up last year to verify this. It is not true. There is no charge for ACH transactions, which is what transferring from your bank to HSBC is, an ACH transaction.

Transfers from your non-HSBC bank account to your HSBC account are free yes. But there's a $3 fee for transfers from your HSBC account to a non HSBC account. Text, I'm not just blowin smoke out my ass bud. They'll let you put money in for free all day long, it's when you wanna take it out is where they get you.

I am telling you, you do NOT get charged for transferring your money from HSBC to your account. You are looking at the FAQs for the regular savings accounts. I have called and verified this. Look at the link you posted, them look at your third bullet, it says:
No transaction fees will be charged for HSBC online savings, Domestic Private banking or HSBC Premiere account.

This savings account is the HSBC online savings account.

 

[AznMaverick]

i just opened an account...it takes FOREVER to get verified. hopefully after this trial transfer i can start transfering all my money.

 

[intogamer]

Get all three accounts and move funds to highest bank when the percentile changes

 

[Schfifty Five]

Originally posted by: Sparke

Originally posted by: wickywicky

Originally posted by: Schfifty Five
Did anyone open an HSCB account and was supposed to get a $25 BestBuy Gift card?

I just opened one up a couple weeks ago, everything is verified and I have transferred money already to the account, but no where did they mention anything about my BB GC...anyone else in the same boat as me?

just been a couple of weeks for me... i'll let ya know if/when i get it.

anyone else get theirs?

I haven't yet. And remember, that deal is only for Best Buy credit card holders (as stated in the fine print).

Oh serious? I sorta remember reading sometihng about that, but didn't think much of it....hmm....darn, guess there's a good chance I won't get it then.

 

[vital]

anyone able to get HSBC Internet banking to work with MS Money? It's asking if I have a special account from HSBC to autoupdate for MS money but I don't see where I can sign up for that. When I put in my really long Customer ID # and password in MS Money, it doesn't work...

 

[divxdude]

wasn't i suppose to get $25 for joining?

 

[Schfifty Five]

Originally posted by: divxdude
wasn't i suppose to get $25 for joining?

are you thinking of ING direct?

 

[Triggerhappy007]

Link

Originally posted by: divxdude
wasn't i suppose to get $25 for joining?

Yeah, if you signed up last year: