Comments on: HSBC Dropped Rate for Online Savings Account

By: Save Money! » HSBC Dropped Rate for Online Savings Account

Save Money! » HSBC Dropped Rate for Online Savings Account — Mon, 15 Oct 2007 02:01:11 +0000

[...] unknown wrote an interesting post today onHere’s a quick excerptHSBC Direct, another popular online bank that offers high yield savings accounts, has just lowered its interest rate to 4.50% from 5.05% APY following last week’s Fed rate cut. The 55 basis points reduction is by large the largest among … [...]

By: MoneyNing

MoneyNing — Tue, 02 Oct 2007 01:30:54 +0000

It’s becoming a day job just to keep up with all the rate changes.

By: September 2007 Score Card — Part I: Net Worth | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Mon, 01 Oct 2007 14:12:27 +0000

[...] or 4.26%. Right now, most of our deposits are still with FNBO Direct. After the recent wave of interest rate cuts at online banks, the offers are less appealing now and alternatives are very limited. It’s most likely that I [...]

By: Friday Finance Findings For September 28th : Generation X Finance

Friday Finance Findings For September 28th : Generation X Finance — Fri, 28 Sep 2007 16:19:43 +0000

[...] HSBC Dropped Online Savings Rate - It comes as no surprise that HSBC, as well as most of the other online savings providers have dropped their interest rates to coincide with the Fed rate cut. Some have dropped more than others, and it is a bit early to tell who will win out. For me, I’m not too concerned with the $25 or $30 difference the rate change may make over the course of the year. It almost isn’t worth that much for the hassle of opening a new account. [...]

By: Tim

Tim — Fri, 28 Sep 2007 05:52:03 +0000

man, i want to be in ya’lls shoes needing to transfer more than $25k out at any 30 day period.

By: Sun

Sun — Fri, 28 Sep 2007 04:03:52 +0000

The transfer out limit is $25,000 in a rolling 30 day period. The reason I say it’s low is by comparing to other banks I am using. Also since I do a lot of balance transfers, I sometimes need to make a larger amount of money quickly. $25K don’t seem to be very convenient to me. But the 5.17% rate is pretty good.

By: Christian Finance

Christian Finance — Fri, 28 Sep 2007 03:35:42 +0000

What’s the monthly out-transfer amount for Igo? I was thinking about opening an account. Not too sure now…

By: Tim

Tim — Thu, 27 Sep 2007 23:15:52 +0000

Igobanking just lowered its rate from 5.3% to 5.17%. i think the 5%’ers are going to be rare, especially if the fed lowers rates again next month.

By: Tim

Tim — Thu, 27 Sep 2007 23:05:25 +0000

Igobanking dropped, too. Now they are at 5.17% instead of 5.3%. Still on top.

By: sid

sid — Thu, 27 Sep 2007 13:00:50 +0000

It will be interesting to see if the high yield competition by online banks will be a genie out of the bottle like frequent flyer miles have been to airlines.

By: Sa Ra

Sa Ra — Thu, 27 Sep 2007 02:19:54 +0000

I also received the email from FNBO about 5.05% APY. Sun, Where will you put your money next? Would you keep in FNBO with 5.05% APY or move somewhere else? Your blog entry on this will be appreciated.

By: Dean

Dean — Wed, 26 Sep 2007 19:52:14 +0000

I got an email from FNBODirect today stating:
“Beginning September 29, 2007, FNBO Direct is happy to announce that we are offering one of the highest rates in the nation: 5.05% APY*”

By: Investing » HSBC Dropped Rate for Online Savings Account

Investing » HSBC Dropped Rate for Online Savings Account — Wed, 26 Sep 2007 19:38:49 +0000