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Email this8:18 pm
December 12, 2009
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I thought I would share with everyone an important development in HSBC's continuing evolution in Canada, in which they http://www.hsbc.ca/1/content/c.....urs_en.pdf
Note that these changes were in addition to the sale of HSBC Securities' private client services/investment advisory full-service brokerage business to National Bank Financial and the winding down of HSBC Finance's consumer finance operations in Canada, including the closure of HSBC Finance offices and shifting the servicing of run-off consumer finance loans, lines of credit and private-label credit cards to call centre support.
Hope that helps clarify things in case anyone had seen or heard anything or weren't aware of the changes.
Thanks,
Doug
3:51 pm
A little late, but for those of you who still have the old Direct Savings Account (now called Advanced Savings Account), there's a month old new money promo again. Haven't seen one of those for a long time, but:
Until September 30th, you can earn an extra 1%, so for deposits in the Advanced account under $100K, you can actually get 2.2% (1.2%+1% interest).
https://www.hsbc.ca/1/2/en/personal/chequing-savings/savings-accounts/new-money-promotion
I don't have any of the Credit Union accounts so this is a pretty good deal for me.
8:57 pm
HSBC Ex-Pat said:
A little late, but for those of you who still have the old Direct Savings Account (now called Advanced Savings Account), there's a month old new money promo again. Haven't seen one of those for a long time, but:
Until September 30th, you can earn an extra 1%, so for deposits in the Advanced account under $100K, you can actually get 2.2% (1.2%+1% interest).
https://www.hsbc.ca/1/2/en/personal/chequing-savings/savings-accounts/new-money-promotion
I don't have any of the Credit Union accounts so this is a pretty good deal for me.
Under the service charges section https://www.hsbc.ca/1/2/!ut/p/c1/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gDd-NQv1BDg2AXA1-PEE9zvzADKADKR2LKuyLkidDtaxjm7ugZamTgb-hhZmDk42Zu5OMeYOAeQkh3QW5oKAD8JlCJ/ it says there is a $1.00 service fee for every single self service debit transaction or withdrawal, so this virtually negates any gain in interest that you might receive on your funds. Plus, the 1.2% base rate for the account seems to only be for if you have a minimum balance of $50,000.00 . I don't think it's worth it.
8:46 pm
I haven't been charged as I have the Advance Savings account, not the High Rates Savings Account. The older grandfathered "Direct Savings Accounts" still have unlimited transactions. I don't see anything about the $50,000 minimum anywhere under the terms and conditions:
https://www.hsbc.ca/1/PA_1_083Q9FJ08A002FBP5S00000000/content/canada2/assets/pdf/terms_and_conditions/advance_nmp_tc.pdf
Anywho, there's on a month left, but since it worked out for me, I thought I would share it.
10:29 pm
I didnt know, HSBC is part of the exchange network. thanks for the info.
10:49 am
December 12, 2009
Offline
hey msl,
Oh wow, you didn't know that already? Yes, it is, so you can make deposits to (or withdrawals from) your ING Direct account at an HSBC ATM. National Bank is also part of The Exchange Network. 
Cheers,
Doug
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