Canadian High Interest Savings Bank Accounts

I like the line "is always our intention to charge a fair
price for our services" … ie, "We intend to get as much as we can from you"

Guess lower savings rates, higher credit card interest and higher fees are to recoup the sub-prime, ALT-A and stock market losses HSBC has had.

Gov't money 1st, then your money 2nd, then, maybe HSBC's money or company on the block (if all else fails).

Thank you for Choosing HSBC

At HSBC Bank Canada, it is always our intention to charge a fair
price for our services and to keep our customers informed of
any changes to our services.
In this insert, we have outlined the fee changes to Personal
accounts that will be in effect starting October 15, 2009.
If you have any questions, please ask your branch representative
or call 1-888-310-HSBC (4722).
Unless otherwise stated, all prices are in Canadian dollars.

The following number of free transactions will increase effective
October 15, 2009.

This is the most important one to us here:

Registered Retirement and
Tax Free Savings Account changes
The following fees will change effective October 15, 2009.

Current New
Transfer to another Financial Institution’s RRSP or RRIF account (Partial or Full)* Was $25 Now $50
Transfer to another Financial Institution’s Tax Free Savings account (Partial or Full)*
Was $25 Now $50

The classic bait and switch maneuver. Offer an initial teaser rate for new customers and then, when they bite, reel them in with fees and service charges. Bottom line is profits, you know.