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HSBC Online Savings rate is now at 5.05%

R

Redterminator

Member
Got an email today stating rate went up to 5.05%!


As of June 20th, rate is now at 4.8%.



Rate has been raised to 4.65%.



After their 4.8% promotion ending 4/30/06, their savings rate is now at 4.5%.



HSBC just raised their rate again to 4.25% which now beats EmigrantDirect.
Text
 
my previous dealing with anything that has hsbc attached to it have been non plesant. (bestbuy, mor furniture, and a slew of cards that they provide financing for)

They tried to take me to court on an account I paid in full and closed. After I closed the account they still calculated the intrest. and took me to court over a 1.00 (well tried to) Finially got it cleared up and didnt have to pay. But the damage to credit had already been done. Even though they "Corrected" the credit error it still shows up some times.

Since then I will not have any product with their name attached to it.

Additionally I think this is a promotional rate. Im with ing now been there for 2 years thinking of emigrant but I will not put my money in the trust of these clowns....Just my opinion

Other than that the deal looks great.

There Terms and conditions line up with about everyone else.
 
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
 
Yup, moved my money from ING to here. 0.5% higher than ING again.
 
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...


HSBC:
World?s 5th largest company?Forbes Global 2000 (April 2005)
Global Most Admired Companies---ranked 40th (February 2005)
World?s fastest growing financial services brand?BusinessWeek/Interbrand (August 2004)
 
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...

naming aside, I always thought HSBC was british. straight from their website:
"Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa."

 
Originally posted by: Ecliptic
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...

naming aside, I always thought HSBC was british. straight from their website:
"Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa."
Click to expand...

The HSBC Group is named after it's founding member, Hongkong and Shanghai Banking Corporation. It is headquartered in London.

HSBC history link

Group History
The HSBC Group has an international pedigree which is unique. Many of its principal companies opened for business over a century ago and they have a history which is rich in variety and achievement. The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe.

 
Originally posted by: lsman
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...


HSBC:
World?s 5th largest company?Forbes Global 2000 (April 2005)
Global Most Admired Companies---ranked 40th (February 2005)
World?s fastest growing financial services brand?BusinessWeek/Interbrand (August 2004)
Click to expand...

the ignorant will stay ignorant. call me narrow minded, but i never spend my time trying to change the mind of ignorant people.
 
Out of all the banks currently offering online savings rate in the 4% range (Emigrant, ING and HSBC) I'd say HSBC would be the one that I'd trust my money to the most. Besides the fact that they've been around longer than almost any bank I know, they are also a full service bank with locations in New York and California not to mention all across the world.

I just got my online account recently and actually opened one at Emigrant as well, but HSBC brought up their APY to 4% just in time so I've stuck with them even though I have the other account still open. Hey, if you live in a place where they have branches you can even get basically full service on this account if you also have checking there.
 
Funny thing is that HSBC offers virtually no interest in savings in Hong Kong since it's the primary and the biggest bank.
Good thing is that you can be assured that it will never go bankrupt, if it does indeed go bankrupt, I think the entire Hong Kong would be gone with it.
 
although HSBC was THE bank of Hong Kong before, Bank of China and rest of the group are catching up...
 
Originally posted by: kamranziadar
These rates need to go up more, like around 10%
Click to expand...

Yeah right. That way I could borrow from my Home equity loan and make money by putting it in a savings account. Novel idea, getting paid to borrow money.
 
Originally posted by: esquared
Originally posted by: kamranziadar
These rates need to go up more, like around 10%
Click to expand...

Yeah right. That way I could borrow from my Home equity loan and make money by putting it in a savings account. Novel idea, getting paid to borrow money.
Click to expand...

But both rates are tied to prime, no? If bank rates were to hit 10%, you could bet your HELOC would rise even more.

I got my money in Emigrant at the moment and have an ING account also. I hope they follow suit soon.
 
Originally posted by: DBL
Originally posted by: esquared
Originally posted by: kamranziadar
These rates need to go up more, like around 10%
Click to expand...

Yeah right. That way I could borrow from my Home equity loan and make money by putting it in a savings account. Novel idea, getting paid to borrow money.
Click to expand...

But both rates are tied to prime, no? If bank rates were to hit 10%, you could bet your HELOC would rise even more.

I got my money in Emigrant at the moment and have an ING account also. I hope they follow suit soon.
Click to expand...

No, I understand they are both tried to Prime :laugh: I was just commenting if savings were 10% now I could make money borrowing. Actually, if savings got to 10%, it would mean we have some inflation problems here.
ING just went up so I doubt they will go up in the immediate future.
 
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...


You are a freaking idiot, they are called that but they are a "British" colonial bank.

Used to use that in HK, their service wasn't that great.
 
Originally posted by: UltraWide
Hongkong and Shanghai Banking Corporation Limited, call me narrow minded, but I will never trust a chinese entity with my money.
Click to expand...

You're not narrow minded, just racist, that's all.
 
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