HSBC rates

parafly · #1 (**permalink**) 04-26-2006, 11:43 AM

Hi Everyone.

I currently have an HSBC online savings account, and they currently have an offer of 4.80% APY. This offer ends at the end of this month, and I was wondering if there was any way to tell what the future rate will be. I tried searching their website, but didn't find any information.

Thanks in advance.

Haku · #2 (**permalink**) 04-26-2006, 11:48 AM

If you know, please tell us because I think we'd ALL like to know.

Still, HSBC's rates tend to be rather competitive with other online banks such as GMAC, ING, Emigrant and so forth. Looking at these other sites will give you a rough idea of what it will be.

Bluezy · #3 (**permalink**) 04-27-2006, 12:57 AM

I did not wait. I transferred all my money out of HSBC into my 5% APY RateEdge.com account. Dealing with a credit union has been heavenly compared to what I dealt with at the online banks! I've also closed my ING and Emigrant accounts.

CJsoccerchic · #4 (**permalink**) 04-27-2006, 05:56 AM

do you think that rateedge.com will be the leader for while, I really can't see ED and HSBC taking this lying down, if you know what I mean..

sweeps · #5 (**permalink**) 04-27-2006, 06:21 AM

RateEdge.com covers a very limited area of customers, so it's not really a fair comparison. If you search credit unions in your area you may find that 1 or 2 of them offers slightly better rates than the well-known names at any given time.

CJsoccerchic · #6 (**permalink**) 04-27-2006, 06:22 AM

ahhh.. i didn't know that! thanks for the info sweeps

JoyJoy · #7 (**permalink**) 04-27-2006, 07:06 PM

I sent an e-mail to HSBC yesterday asking them what their new savings rate will be. Their response was they haven't finalized the rate yet, but that it will be among the best APRs out there after April 30th! I do believe it will be because we live only a few blocks from HSBC and their parking lot is always filled with customers and they are open 7 days a week. They have really taken away customers from the big banks in our area....I do believe the other banks in our area will try to surpass them. Citibank is in our radius too and they are offering 4.50% now on savings, but will go higher to compete I believe.

CJsoccerchic · #8 (**permalink**) 04-28-2006, 12:24 AM

Time will tell... only a few days to go!

Russell · #9 (**permalink**) 04-28-2006, 01:12 PM

Uh oh!

Just got this in the email from HSBC:

Quote:

We are writing to let you know that beginning May 1, 2006, your HSBCdirect Online Savings Account rate will change to 4.50% APY**. This is one of America's leading rates and still 8x the national average*, so you can continue to watch your money grow.

kichu · #10 (**permalink**) 04-28-2006, 02:37 PM

I got the mail saying the rate is going to be 4.5% starting May 1. Now what are the options we have?

Russell · #11 (**permalink**) 04-28-2006, 02:59 PM

Looks like GMAC is one option:

http://savingadvice.com/forums/showt...4750#post54750

pyotr · #12 (**permalink**) 04-28-2006, 04:38 PM

HSBC has shafted me. I hereby post a nudie pic of you know who:

mrvirgo · #13 (**permalink**) 04-28-2006, 05:43 PM

I am so glad I didn't move any money in my HSBC account. All they are going to see from me is $5.00 for a long time! Does anyone find it odd (as in suspicous) that ED, HSBC and Citi e-Savings are all at 4.5%?

JoyJoy · #14 (**permalink**) 04-29-2006, 05:31 PM

Quote:

Originally Posted by mrvirgo

I am so glad I didn't move any money in my HSBC account. All they are going to see from me is $5.00 for a long time! Does anyone find it odd (as in suspicous) that ED, HSBC and Citi e-Savings are all at 4.5%?

One of othem is going to take the lead soon!! It would just be my luck to be Citi as I don't have any money there!