GMAC, ED, or HSBC???

[CJsoccerchic]

Well, I haven't officially made the change to go from ING to either one of these banks (ED, HSBC, or GMAC) but I was wondering what you all thought of them.
HSBC 4.8% till the end of month, then who knows where
HMAC 4.75% at a solid rate
ED 4.5% - maybe they'll increase if HSBC increases too...
What does everybody think they'll go with at the end of the month? Which one should I open?

[Haku]

The time is almost upon us so we'll know soon enough.

However, and maybe this is just me, but I'm not big on rate chasing. In fact, unless the difference is 1% or greater, I leave my money alone. Why?

To me, the real purpose of these banks is to provide a way to keep my money safe, but can also be accessed quickly in the event of an emergency. Emergency fund. That's all.

I'm not knocking the interest rates, but if the purpose was for something else, like investing, then I would not have used a bank to begin with.

[BTC]

With the exception of GMAC, I have accounts with all of those banks and I'll probably open a GMAC account in the near future. I transferred all of my money from ING to ED. Depending upon what happens at the end of this month, I may move it elsewhere. I'm also considering some solid mutual funds as an alternative to these high interest savings accounts.

[JoyJoy]

HSBC - We're going to leave what we have in HSBC as they are local and a great bank to deal with here in NY.

Emigrant Direct - Still going to keep our recurring monthly deposit there.

GMAC - We're going to open a MMKT account and a 6 month CD right away with the money we had planned on depositing in HSBC had they kept their rate of 4.80% or gone higher.

[CJsoccerchic]

So it looks like GMAC is the winner?!