HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

[sweeps]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

My shot-in-the-dark guess is that they'll go to either 4.30% or 4.35%. They've proven that they want to stick it to Emigrant and ING, and staying 5 or 10 basis points over them is probably enough.

After Bernanke's comments today that more rate hikes may be needed, I think HSBC will go to at least 4.50% after the promo is over.

[pyotr]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

Finally, 33 days after I embarked on my path toward opening the HSBC online savings account it is finally fully functional and ready for action. I was getting discouraged waiting for the crazy-long passwords and ID#s (was joint account with my wife) to be mailed to me, but everytime I called HSBC I was greeted by cheerful and very helpful representatives with solid information to encourage me to wait longer. I believe the telephone customer service from HSBC is just as good if not better than INGdirect. They have a system on the application status website where if you click on the "Call Me" logo my home phone rings almost instantly and I'm on with an HSBC rep (a free call). What I don't like about HSBC is that they don't give you the daily interest accumulating tally the way INGdirect's website has it.

In approximately another 2-3 weeks, I am told I will receive my $25 sign-up bonus into this account. Setting up bank-to-bank transfer with my base checking account at Wachovia was a breeze: instead of waiting for the HSBC ATM card to arrive, I simply called up HSBC and a pleasant young lady internet specialist went through the process with me step-by-step bypassing the ATM/pin code requirements. It takes about a week to transfer money into this account. I am told it typically takes 3-4 business days to transfer money from my checking account to HSBC online savings. I am hearing from others that it typically takes longer to transfer money out of HSBC to another account. ?True or Not?

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

for me, it takes long...
they say 3 bus. days... however, i am finding that it takes 5 full bus. days, and if there is a weekend in there, you will lose 7 days of interest....

ing and ed, take a day and a half at most!

with that being said, i still like the user interface and the convenience of the atm card and my local branch with HSBC....

I also used the atm to deposit, and it showed up the next day.

[Ima saver]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

I know I am losing interest, but that is why I like staying with my home town bank.

[jerseyguy]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

I signed up for HSBC online savings account a month ago and just got my first online statement. I accrued almost more interest in one month with them then all last year with my dopey simple savings account at my local bank. Rate is 4.8%, I know this will end end of April and will probably go down to low to mid 4's, but I still have a huge thumbs up for this bank so far.

[JoyJoy]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

Not only are they paying good interest, but they are giving nice lines of credit on their cc at 0% for 12 months online! Instant approval.

[BTC]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

I hate how long it takes for transactions to post at HSBC. That's a huge drawback, imo.

[goodtosave]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

I hate how long it takes for transactions to post at HSBC. That's a huge drawback, imo.

3 days of lost interest to be exact or 5 days if the weekend falls in between the 3 business days. And that's just one way transfer.

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

hmmmm.... i found it to be 5 days, and 7 if the weekend was included..... was it unusually slow for me???

[goodtosave]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

hmmmm.... i found it to be 5 days, and 7 if the weekend was included..... was it unusually slow for me???

This is so messed up. Someone should contact the Office of Thrift Supervision if they are interested in pursuing this issue.

http://www.ots.treas.gov/docs/4/48780.html

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

so you get a check book and an atm card? and to they refund you the atm fees from the other bank that you are using? along with not charging their own fees for using a foreign atm?

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

let us know know it works after you make a "test" withdrawal from some random atm machine....!!!!!!!!

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

FYI Everyone: From GMAC website:

"There is no charge for withdrawals at a GMAC Bank or NON-GMAC Bank ATM. A fee may be assessed by the ATM owner for use of a non-GMAC Bank ATM. The first four fees per statement cycle assessed by the ATM owner, up to a total of $6, will be refunded by GMAC Bank."

So you are basically credited $1.50 per transaction if you make 4 atm transactions, etc.

Most random atm machines charge a minimum of $2-3 to use their ATM machines. There are even some here in south florida (especially ones at bars/restaurants) that charge as much as $5-7 per transaction. I was recently charged $7 for using my Bank Of America card at a local night club.

So, hence, you are probably only good for 1-2 atm withdrawals per statement cycle from GMAC. Which is no big deal, i guess, if you are truly using it in an emergency!

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

well, i am now debating on opeind a GMAC acct... let me know what your transfer times are like...

[fratkid21]

Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)

Rexdart-

I just opened my GMAC account online, and funded it with my checking account with the $500.

Then, I was playing around with the account, and went under the exxternal linked accounts, and my checking account (that i funded it with) was not there.... so i assumed that the funding account does not automatically show up as a linked account. So, therefore, I took the extra steps to link that same checking account, and am now waiting for the "random" trial deposits. Does this sound like what you had to do, and does it sound right?

Next question, how long after you opened the acount, did it take to get your checks, ATM card, account materials, etc.?