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01-03-2006, 03:43 AM
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$ Saving HS Junior
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by pyotr
before going for HSBC, check out the discussions
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It goes all over the place - is there something in particular there that we should know about? |
01-03-2006, 02:18 PM
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$ Saving HS Sophomore
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
The major thing to note with HSBC: most of the customer service is outsourced to India (like vonage's) - you'll get a live person to talk to relatively quickly though, unlike with Emigrant. With ING, the customer service is very good IMO. The transaction times with HSBC is sluggish, like with Emigrant. The biggest benefit with HSBC is probably the chance to go to a real branch and conduct real banking. Daily compounding is a plus versus ING's monthly.
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01-03-2006, 02:29 PM
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$ Saving HS Senior
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Emigrant's transactions post to my linked account faster than any other online account that I have, always within 2 business days. I completed my HSBC application early last week and my trial deposits have yet to post. Transactions via ING never posted as fast as Emigrant.
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01-03-2006, 03:45 PM
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$ Saving HS Sophomore
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
My experience with Emigrant was it took a week to post anything. the difference may be due to geography, amount of money transacted, irregular service. ING posts its deposits always within 3-5 days in my experience. Personally I'm transferring amounts in the 10k range.
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01-03-2006, 05:04 PM
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$ Saving HS Senior
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Are your experiences recent? I opened my account 3 or 4 months ago and every transfer, approximately 10 to 15 total, into my Emigrant account have cleared my bank in 2 business days. My ING transfers never posted that quickly.
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01-04-2006, 11:42 AM
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$ Saving Kindergartener
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Ok, just to make sure I understand,
If i open up an HSBC account today (jan 4th), I wont have to put in on the tax form this comming april, right? I wont pay taxes on it untill apirl 2007?
Is that right?
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01-04-2006, 11:50 AM
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Hopeless Optimist
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by fsumoney
Ok, just to make sure I understand,
If i open up an HSBC account today (jan 4th), I wont have to put in on the tax form this comming april, right? I wont pay taxes on it untill apirl 2007?
Is that right?
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Correct. |
01-05-2006, 07:20 AM
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$ Saving College Senior
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Is there signup all online?
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01-05-2006, 07:35 AM
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Hopeless Optimist
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by jmjj215
Is there signup all online?
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Yes, assuming you can transfer funds electronically from another bank. As mentioned in another post, you have to confirm access to the other bank's account in 1 of 2 ways. Either through trial deposits or by giving them your account's login and password. It's a trade-off between time and privacy.
I'm impatient, so I did the latter and then changed my password. |
01-05-2006, 07:46 AM
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Hopeless Optimist
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Oh, forgot to mention. Even though your account is set up and you're earning interest after 3 business days, you can't actually log in to your account until your login ID and password come in snail mail (approximately days 5 and 6).
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01-05-2006, 07:42 PM
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$ Saving First Grader
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by jmjj215
Is there signup all online?
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It's part online and part by snail mail. They mail you your ID and password, and you have to print out and mail to them a signature card with your taxpayer ID and signature on it. |
01-05-2006, 07:45 PM
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Hopeless Optimist
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by TwoNickles
you have to print out and mail to them a signature card with your taxpayer ID and signature on it.
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I didn't have to? |
01-06-2006, 04:12 AM
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$ Saving First Grader
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by Sweepsplayer
I didn't have to?
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Hmmm, well that's what they told me. We are talking about HSBC aren't we? And we are talking about the Online Savings Account, right? And you are in the US, right? They have to have your taxpayer ID in order to report any interest you earn to the IRS. Sooner or later they have to have it. I don't see how it can be a legit account without it. |
01-06-2006, 05:29 AM
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by TwoNickles
Hmmm, well that's what they told me. We are talking about HSBC aren't we? And we are talking about the Online Savings Account, right? And you are in the US, right? They have to have your taxpayer ID in order to report any interest you earn to the IRS. Sooner or later they have to have it. I don't see how it can be a legit account without it.
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Yes.
Yes.
Yes.
 : My account is valid and I'm earning interest. Never had to mail anything.
UPDATE: According to this page, new customers may be required to send in a signature card, a check (if 1st deposit is by check) and/or additional documentation. Not sure what criteria is used to determine this though, so YMMV. |
01-06-2006, 10:36 AM
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$ Saving First Grader
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
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Originally Posted by Sweepsplayer
Yes.
Yes.
Yes.
: My account is valid and I'm earning interest. Never had to mail anything.
UPDATE: According to this page, new customers may be required to send in a signature card, a check (if 1st deposit is by check) and/or additional documentation. Not sure what criteria is used to determine this though, so YMMV. |
Same page:
"The deposit application requires the following information:
Social Security Number or Tax Identification Number"
Either they got your number some other way, or they will get it. They *have* to have it to report your earnings.
: Yea, me too. |
01-06-2006, 12:32 PM
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Hopeless Optimist
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Quote:
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Originally Posted by TwoNickles
"The deposit application requires the following information:
Social Security Number or Tax Identification Number"
Either they got your number some other way, or they will get it. They *have* to have it to report your earnings.
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Yes, I provided SSN on the online form. |
01-06-2006, 12:36 PM
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Everbank is offering 5.01% APR on their "FreeNet Checking Account". The rate is a promotional rate for 3 months. After that it returns to their regular rates which are not as good as HSBC, ED, ING. But if you're looking for a place to park your money for 3 months, seems like a great deal....
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01-06-2006, 10:06 PM
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$ Saving College Senior
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Quote:
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Originally Posted by Sweepsplayer
Everbank is offering 5.01% APR on their "FreeNet Checking Account". The rate is a promotional rate for 3 months. After that it returns to their regular rates which are not as good as HSBC, ED, ING. But if you're looking for a place to park your money for 3 months, seems like a great deal....
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They don't require you set up direct deposit w/ it? Most promo checking accounts do. |
01-06-2006, 11:45 PM
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$ Saving College Sophomore
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
Fine print from the Everbank website In Re: FreeNet HIgh Yield Checking:
"Introductory Annual Percentage Yield (APY). $1500 opening deposit required, all balances eligible to earn yield. Fees may reduce earnings.
* Offer Details: The special 5.01% annual percentage yield (APY) on EverBank's FreeNet Checking Account is current as of 11/1/05 and will apply for three months after account opening, and may change at any time prior to account opening. The current APY as of 12/30/05 without this special offer will be the applicable ongoing rate based on the average collected daily balance on your account and may vary after account opening. Current APY tiers are: over $100K, 3.55%; $50K-$99.99K, 3.40%; $25K-$49.99K, 3.25%; $10K-$24.99K, 3.12%; and under $10K, 3.01%. During the three-month period after account opening, the special rate will be applied to the first $100,000 in your account and any balance above $100,000 will receive the applicable ongoing rate, based on the average collected daily balance on your account. Any rate or any tier may change at any time without notice. Fees may reduce earnings. This special APY offer is available to first-time checking account holders only and is limited to one account per household. This account is only available through EverBank Direct and cannot be obtained through any other division of EverBank. Minimum opening deposit $1,500. "
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01-12-2006, 01:29 AM
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$ Saving Sixth Grader
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Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
I just opened an HSBC account... is it me, or does it seem as though, HSBC is a more long and drawn out process.... i felt like they made me jump thru hoops to open the accound and link my external checking account....
also the customer ID for logging on is soooo long, you cant possibly memorize this number??????
does anyone have any positive or negative feedback on their HSBC acct?
and do they charge you $3 every time you transfer money back to your external checking acct?
thanks.
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