Quote:
Originally Posted by Daylily
I finally got on the HSBC bandwagon and have an account opened and funded with an initial deposit. I have also received my ID and password to get things rolling. I logged on to the site because I was wanting to transfer more money to HSBC from my non-HSBC account. I started to read the info on Bank to Bank transfers and came across this:
A $3.00 transaction fee will be charged for each outbound transfer from your HSBC accounts to your non-HSBC accounts.
So if I take money out I'm going to be charged? Perhaps it was naive of me not to investigate this matter earlier but I thought it would have been brought up in this thread as a downside to the 6.0% introductory rate.
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That sentence is then negated by the following one:
"No transaction fees will be charged for HSBC Online Savings, Domestic Private Banking or HSBC Premier customers"
I'm not sure which HSBC accounts do incur that $3 fee but I know that my online savings account has not been charged no matter which way the money goes nor (so far) which account generates the transaction. I'm experimenting with depositing money into my HSBC savings using my primary checking as the "pusher" to see if that is a faster transfer, and with taking money out using my money market account. If I'm charged a fee I'll let you know, but so far all the transfers have been free, if lengthy.