Re: HSBC Online Savings Account: Better than ING & Emigrant?
HSBC has a $25.00 dollar fee if you close account in under 180 days.
And if you open account with minimum balance and carefully deposit say 100K one day before end of monthly interest cycle interest is not figured on opening say 1K and 100K ending for 50K average.
Interest is figured on 1K for nearly 30 days and 100K for just a day or so depending when you get it in.
WHich is saying it is not average balance more a weighted balance and for sure not compounded.
Compounded balance is a much better way to compute interest which might be a good indication why HSBC pays 3.75%
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