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hsbcdirect.com at 5%

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Old 06-30-2006, 12:21 PM
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hsbcdirect.com at 5%
http://www.hsbcdirect.com/1/2/1/



Anyone do this?
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Old 06-30-2006, 12:47 PM
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Originally Posted by Crazy Sellout

It says 4.8%
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Old 06-30-2006, 12:51 PM
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i've got an account with them, although most of my $$ is still with ING.
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Old 06-30-2006, 12:52 PM
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Originally Posted by NSXNEXT
It says 4.8%

says 5.05% for me.
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Old 06-30-2006, 01:41 PM
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I opened a Countrywide.com cd for 5.5% for 9mos...the 12mos rate was 5.6%.
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Old 07-01-2006, 07:27 AM
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5.05% for me, but I'm taking it all out to close on the house next week
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Old 07-01-2006, 09:47 AM
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Awesome. I just opened an account last month and logged in today to see the rate increased to 5.05%. I hope it keeps rising.
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Old 07-01-2006, 11:19 AM
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Originally Posted by TLinSA
Awesome. I just opened an account last month and logged in today to see the rate increased to 5.05%. I hope it keeps rising.
With interest rates on the rise we all should see higher returns on this type of investment.
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Old 07-05-2006, 03:27 AM
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I saw this on their FAQ:


What rate will I get if I open an HSBCdirect Online Savings Account today?

Please refer to our home page for today’s Annual Percentage Yield (APY). [Currently 5.05%]

Our rates are variable based on competitive and market conditions. We are committed to offering a competitive Annual Percentage Yield.



Does this mean they can drop it to 4% (or anything lower than what I signed up with) next month?
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Old 07-05-2006, 08:51 AM
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Originally Posted by Simpleman
I saw this on their FAQ:


What rate will I get if I open an HSBCdirect Online Savings Account today?

Please refer to our home page for today’s Annual Percentage Yield (APY). [Currently 5.05%]

Our rates are variable based on competitive and market conditions. We are committed to offering a competitive Annual Percentage Yield.



Does this mean they can drop it to 4% (or anything lower than what I signed up with) next month?
Yup.
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Old 07-05-2006, 10:24 AM
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Originally Posted by Simpleman
I saw this on their FAQ:


What rate will I get if I open an HSBCdirect Online Savings Account today?

Please refer to our home page for today’s Annual Percentage Yield (APY). [Currently 5.05%]

Our rates are variable based on competitive and market conditions. We are committed to offering a competitive Annual Percentage Yield.



Does this mean they can drop it to 4% (or anything lower than what I signed up with) next month?
yes, but unlikely. rates only have upward mobility right now. you won't have to worry about them lowering rates, certainly not to 4%.
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Old 07-05-2006, 03:16 PM
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Re: HSBC
Originally Posted by Simpleman
I saw this on their FAQ:


What rate will I get if I open an HSBCdirect Online Savings Account today?

Please refer to our home page for today’s Annual Percentage Yield (APY). [Currently 5.05%]

Our rates are variable based on competitive and market conditions. We are committed to offering a competitive Annual Percentage Yield.



Does this mean they can drop it to 4% (or anything lower than what I signed up with) next month?
Yes, but it works both ways. It could also increase.
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Old 07-05-2006, 03:18 PM
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My question is when do they put the interest into your account? I opened an account in June and the interest payment hasn't posted to the account yet. My other banks deposit the interest on the 1st business day of the month.
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Old 07-05-2006, 05:32 PM
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Emigrant-Direct is now at 5%
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Old 07-05-2006, 07:49 PM
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Originally Posted by TLinSA
My question is when do they put the interest into your account? I opened an account in June and the interest payment hasn't posted to the account yet. My other banks deposit the interest on the 1st business day of the month.
I think it depends on when you opened your account. For example, mine gets put in on the 13th or 14th of each month, but I can't remember exactly what day I opened the account on.
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Old 07-07-2006, 10:41 PM
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Citi has a 6% short-term CD and lots of other places are 5.25-5.50% on CD rates. If you aren't getting 5%+ on basic savings, then it's time to change banks. I noticed ING just raised their rate to 4.35%, which I assume means they are pretty much loaded with enough cash to meet lending expectations.
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