Has anyone tried HSBC's online savings account?

United States
June 23, 2008 12:53pm CST
I signed up for HSBC's online savings a month ago because online savings banks have an higher interest rate. They are paying approximately 5.01APR and you can start with just one dollar. I have ten dollars in there so far and I just got my statement I got 2 cents on interest. I know that this seems like nothing but it can build up. Can't be any worse than clicking for pennies. Would you give it a try or not? Why not? Doesnt everyone need a savings account why not make some money while you are at it.
1 person likes this
3 responses
@nova1945 (1614)
• United States
23 Jun 08
I tried their savings plan a few months ago when they were offering a $25 bonus for signing up. It took forever and in the meantime they wanted my bank account information, including the login and password. That's when I backed off. I do not give that information to anyone, I don't care how big the financial institution is. They have acquired so many credit companies lately that it is almost scary. I had one credit card with a very high credit line and good fixed interest rate. As soon as HSBC took over the interest became variable and the rate went through the roof. I don't have a very high opinion of HSBC. And don't ever try to talk to customer service...they are overseas and the agents barely speak English. I don't care if they are not fluent in English, but a customer service agent at least needs to be able to comprehend what you are saying and follow simple instructions. They can't, in any of their products.
• United States
24 Jun 08
Sorry to hear about that. They did not ask me for any of my banking information. I would not give that out either. I also have a credit card with them and have not had that problem. But who knows it may be in the future.
@tentwo67 (3382)
• United States
24 Jun 08
Is that the one with the big orange dot on the materials? I have considered it, particularly when there was a $25 sign up bonus, but I haven't ever done it. Lately any extra money I find just goes into the regular checking account to go toward the purchase of whatever groceries or gas or bill paying. I'm glad that you've had a little success with it, though, and I just may do it down the road.
• India
23 Jun 08
well that is great news from you thanks i have not heard about the HSBC online savings account but i will try that for sure. and never mind the interest rate i just want to secure the few pennies i earn from the internet and use them later.