YAOSA: HSBC 4.0% APY

[Triggerhappy007]

Link
From chatanp @FW:
Here are the basic features of the account...
*OnlineSavings Account FeaturesOne of America's highest savings account rates
*Free HSBC ATM withdrawals and deposits
*Easy access to your account online anytime
*No monthly fees
*No minimum term
*Open an account with as little as $1

Bonus Disclosure...
Limit one $35 bonus per customer. OnlineSavings Account must remain open until bonus is credited or bonus will be forfeited. The $35 bonus will be deposited to the OnlineSavings Account within 45 days following account opening. Offer expires 11:59:59 PM ET October 31, 2005, is subject to change and cannot be combined with any other promotional offers. $35 bonus is considered taxable income and will be reported on IRS form 1099.

"Account Closing fee of $25 if your account is closed within six months of opening"

Why not sign up for both.

 

[psteng19]

Bastards!
I opened mine last month before they had this $25 bonus.

 

[Triggerhappy007]

I'm glad I waited until today.

 

[Mellman]

Originally posted by: Triggerhappy007
I'm glad I waited until today.

surprising considering your nick

I'll be going for this too - i can't pass up a free $25!!

 

[Ecliptic]

ARGH

WHY WASNT THIS POSTED FRIDAY WHEN I OPENED MY ACCOUNT!

 

[Triggerhappy007]

Up to $35 now. I should have waited.

 

[ncage]

dohhhhh....i wish one of these high interest places would provide a debit card with Cash Back...if they did then i would go forward with an account until then i will use my paypal account.

 

[Maximus96]

wow, good deal. i'll have to sign up tonight. can't pass up the $35 and 3.75%

 

[blackrain]

Why do they say "The Checking, Savings, and CD application" I thought this was for their savings account only.

 

[The Stigenator]

i might look into this.. cant hurt having another savings acct.

 

[Sparke]

1.) Sign up for ING and get $25
2.) Refer people for $10 apiece
3.) Transfer money to HSBC and get $35
4.) Transfer money to Emigrant for highest interest rate
5.) You're up $60 or more and still get the highest rate of return

 

[MonkeyK]

http://www.us.hsbc.com/HICServlet?cmd_ViewDepositRates=&accept-language=en-us

can someone explain to me how HSBC can have 3.75% on their online savings account with a $1 minimum balance, but only .25% on their regular savings account with a $100 minimum balance?

and how can the savings account have a better rate than their 1 year CD?

 

[SleepyB]

Originally posted by: MonkeyK
http://www.us.hsbc.com/HICServlet?cmd_ViewDepositRates=&accept-language=en-us

can someone explain to me how HSBC can have 3.75% on their online savings account with a $1 minimum balance, but only .25% on their regular savings account with a $100 minimum balance?

and how can the savings account have a better rate than their 1 year CD?

Probably because it's online only. You can't go into a branch and talk to the tellers, or withdraw money. Probably the only people you can talk to are the outsourced call centers. Seems like the only way to withdraw money is to do it at a HSBC ATM, transfer funds to regular checking, or funds transfer to another bank (which probably they charge a hefty fee).

I was planning on opening one of these account, but probably only put like $50-100 into it. But then the point of high interest is to put a lot of money into it. But then they make it hard for you to withdraw, kinda tricky.

 

[jpthomas]

Thanks

 

[MonkeyK]

Originally posted by: SleepyB

Originally posted by: MonkeyK
http://www.us.hsbc.com/HICServlet?cmd_ViewDepositRates=&accept-language=en-us

can someone explain to me how HSBC can have 3.75% on their online savings account with a $1 minimum balance, but only .25% on their regular savings account with a $100 minimum balance?

and how can the savings account have a better rate than their 1 year CD?

Probably because it's online only. You can't go into a branch and talk to the tellers, or withdraw money. Probably the only people you can talk to are the outsourced call centers. Seems like the only way to withdraw money is to do it at a HSBC ATM, transfer funds to regular checking, or funds transfer to another bank (which probably they charge a hefty fee).

I was planning on opening one of these account, but probably only put like $50-100 into it. But then the point of high interest is to put a lot of money into it. But then they make it hard for you to withdraw, kinda tricky.

Theres not much you can do with a CD either, but the online savigs has a better rate than the CD.

 

[blackrain]

Originally posted by: SleepyB

Originally posted by: MonkeyK
http://www.us.hsbc.com/HICServlet?cmd_ViewDepositRates=&accept-language=en-us

can someone explain to me how HSBC can have 3.75% on their online savings account with a $1 minimum balance, but only .25% on their regular savings account with a $100 minimum balance?

and how can the savings account have a better rate than their 1 year CD?

Probably because it's online only. You can't go into a branch and talk to the tellers, or withdraw money. Probably the only people you can talk to are the outsourced call centers. Seems like the only way to withdraw money is to do it at a HSBC ATM, transfer funds to regular checking, or funds transfer to another bank (which probably they charge a hefty fee).

I was planning on opening one of these account, but probably only put like $50-100 into it. But then the point of high interest is to put a lot of money into it. But then they make it hard for you to withdraw, kinda tricky.

OP says *Free HSBC ATM withdrawals and deposits

 

[DonCrescas]

if you have a B&M HSBC checking account this works well, b/c you can do free transfers between the two accounts, so if you really need to walk into a bank for more than 500 at a time you have that option.

As to why the CD is lower, this is b/c it is tied into much more stable financial instruments. The savings account is not. Which is why they can change the rate at any time if their investments stop returning enough to cover.

 

[ECartman]

Poo, just opened one with the $25 bonus. Time to open another couple for the wife and kids, mom, and then joint accounts.

 

[esquared]

Bump for the 35.00 bonus until 10-31.

 

[ECartman]

HSBC up to 4% now. ING at 3.5%. Emigrant Direct 4% still.