HSBC 6.0% promotion

[krayziebone33]

Originally Posted by mrvirgo

krayziebone33, did you have HSBC transfer money to your HSBC account? I've found they are very fast pulling money from other banks, but you won't see it credited to your HSBC account for two more days after that. What happens to your money those two missing days is anyones guess.
If you know something I don't know about speeding transfer time, please let me in on the secret. Basically, no matter what I've done with them in the last year, it's three days either in or out, no matter which bank is pushing or pulling. The slow transfer time is the only thing I don't like about HSBC.

No, I had HSBC withdraw the money from my checking account. Lately, the transfers have been moving really fast compared to when I first opened the account. I'm glad because this new 6% interest is great.

[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.

[mrvirgo]

Daylily
Not to worry. The imbecil who wrote that on HSBC's website ought to be fired for total lack of clarity. I just moved money in and out last week (two transactions IN and two OUT) of my HSBC online savings account and there was absolutely no charge at all for any of the four the bank to bank transfers. That "$3.00"phrase has caused a lot of people a great deal of consternatiion. There is absolutely no charge for on line accounts when you want to move money.
By the way, it took three days to complete the inbound and outbound transactions and you will get an email to let you know when the process has started and another when it's complete.
I am getting to like HSBC more every day.

[catlinye_maker]

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.

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.