Canadian High Interest Savings Bank Accounts

Can you post some links? I haven't heard anything.

I'll probably be pulling my funds out of their High Interest Savings Account on May 2, but that's only because their 4.75% promotion ends on that date. Their regular rate is currently 3.30%, and there are plenty of banks that can beat that.

TD account? What kind of rate is TD offering?

I still don't like HSBC's website – very frustrating to use and not user friendly. Have my money there now, only til the end of their promotional rate of 4.75% is over 2 May. Then I will switch.

Would have locked into a higher 1 yr GIC, but will need access to my $ later this year for a big purchase.

i like hsbc more than any of the 5 Canadian majors although i prefer dealing with our local credit unions.
hsbc has already taken some write downs and with their diversified business platform ( in many countries and a concentration on retail banking) should be in good shape –and certainly better than the US banks—
i agree with the previous post on this bank–

I still prefer Canadian Tire's High Interest acct in terms of speed of transactions, user-friendliness and rates. Have no complaints about them at all, and may switch to them if I don't tempted to "risk" moving my money to ICICI for their 3.6% (or was it 3.5?)…

..as we are probably all familiar with the complaints on them..!

;p

Actually, HSBC Bank Canada is, in addition to being a member institution of the Canada Deposit Insurance Corporation, backed by and is an indirect wholly-owned subsidiary of one of the world's largest, most conservative and best capitalized financial institutions, HSBC Holdings plc. It isn't going anywhere and your deposits are fully protected and guaranteed. It's as safe, if not more than, as putting your money in RBC Financial Group or TD Bank Financial Group or any of the "Big Five" banks.

If anything, I worry about some of the upstarts, like this Peoples Trust Company of Canada. If any financial institution were to fail, it would be that one. One only needs to look at their website. Financial institutions in Canada do fail from time to time and if you look at the history, with the exception of the Bank of British Columbia (a provincial Crown corporation) in the mid 1980s, on the CDIC's website, they've all been small institutions and trust companies. Interestingly, the Bank of British Columbia's depositors and loan holders were saved by HSBC Group when HSBC swooped in and acquired the assets and liabilities of the Bank of British Columbia.

So not to worry, HSBC Direct, the direct banking operation of HSBC Bank Canada, is absolutely safe.

Hope this helps,
Doug

Why is HSBCs Bank Rate going down? HSBC has only 2 stars now, and Countrywide went from U = unrated to one star, now. HSBC used to be 4 stars. (I'm in California)