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down to %3.00
May 4, 2008
8:46 am
sean
Guest
Guests

I was going to sign up with these guys because my PC acc. has dropped to 3.05. Just Checked the HSBC site its now at 3.00 bummer.
Anyone have any good things to say about citzens bank?

May 4, 2008
2:23 pm
Peter
Admin
Forum Posts: 1293
Member Since:
May 15, 2007
sp_UserOnlineSmall Online

Sneaky how HSBC drops its "normal" rate the day that its 4.75% promotions ends.

I love Citizens Bank, although I will be surprised if its rate stays at 3.50% for the next month.

May 5, 2008
9:01 am
The Other Craig
Guest
Guests

It'll be interesting to see if people report problems transferring their cash out of HSBC. I'll be moving my cash out early next week.

May 5, 2008
11:14 am
Ricardo
Guest
Guests

I was able to move out some of my money out without any problems. 🙂 I like how HSBC never locked your money in and you could always access with a debit card. But there web site sucks....

May 5, 2008
12:26 pm
TOgirl
Guest
Guests

Yes, HSBC website does suck. It goes down too often. But I think it has improved somewhat recently as I haven't experienced any server issue lately. I just moved a chuck of my money out of HSBC without any problem. My plan is to move it to my citizens bank account. I will agree with the previous posters though, I think citizens will lower their rate soon. I'm hoping that it'll still be higher than either ING or HSBC... which are the other 2 accounts.

May 5, 2008
7:23 pm
Peter
Admin
Forum Posts: 1293
Member Since:
May 15, 2007
sp_UserOnlineSmall Online

Speaking of the HSBC interface, does anybody want to do a review of it? It would be something like this but with more screenshots:

https://www.highinterestsavings.ca/icici-bank-online-interface

The gist of it would be: here is the interface, here are the basic things you can do, here are the cool things, here are some things that are difficult to do, here are some things that you might not know you can do.

May 6, 2008
10:02 pm
Maxime
Guest
Guests

I have problems trying to find the Bank to bank tranfer option each time I try to move some funds.

Do you imagine how subjective my review would be?

May 7, 2008
1:05 am
Pete
Guest
Guests

It's not sneaky at all how HSBC dropped their rate to 3%. The BoC prime rate sank by ½% and virtually every bank in Canada dropped their prime (and correspondingly savings) rate accordingly. Not only was HSBC one of the last to drop their rate, they only dropped it .3% as opposed to the .5% most others did.

May 8, 2008
12:27 pm
djino
Ottawa (Gatineau, Qc Area)
Member
Members
Forum Posts: 310
Member Since:
December 12, 2008
sp_UserOfflineSmall Offline

Hey Peter,

I would not mind doing a review of HSBC if the offer is still out there. Please let me know.

djino
Edit by admin: contacted via e-mail; address removed from post to prevent spamming

May 8, 2008
2:48 pm
CM
Guest
Guests

In my recent shopping of a high rate online account, the things I didn't like about HSBC is that it is only a savings account. There are no GICs, chequing privledges or RSP eligibility. They trid to sell me on going to their branch for other services.

May 8, 2008
3:51 pm
Salty Bob
Guest
Guests

I'm waiting til HSBC adds in my interest before I transfer out.

Call me paranoid..!

🙂

Not certain if I will transfer to ICICI or not, to take advantage of their 3.6% rate. Too many bad reviews, but we shall see a I plan strictly to deal with them online basis.

Canadian Tire is 3.05%, and I enjoy their handling/efficiency the best!

May 9, 2008
8:11 am
Craig
Guest
Guests

Same here Bob, I'm waiting to see if HSBC calculates the interest correctly before transferring out. In my case, the interest was supposed to be posted today, but it's not there yet.

ICICI is down to 3.40% now, but they're still at or near the top of the interest rate pile. Getting an account set up was a nightmare for me (others apparently didn't have as hard of a time), but I've been with them for about 7 months now and I really have no complaints about the essential services (transferring money, proper interest rate calculation). As long as you don't have to pick up a phone and talk to someone there, you should be OK.

May 12, 2008
8:29 am
Craig
Guest
Guests

NO INTEREST YET FROM HSBC. In my case, interest is supposed to be credited on the 9th of every month, which has happened without fail ever since I opened an account with them. Anyone else having a problem getting your interest from HSBC???????????

May 12, 2008
10:45 am
djino
Ottawa (Gatineau, Qc Area)
Member
Members
Forum Posts: 310
Member Since:
December 12, 2008
sp_UserOfflineSmall Offline

It usually takes about 1-2 business days for it to show up in the account (but it will be dated for the 9th of the month). Since the 9th was this past Friday, expect it to show up at midnight tonight or tomorrow night.

djino
"Its always been like that..yup"

May 13, 2008
8:52 am
Craig
Guest
Guests

You were right, the interest was posted this morning. I guess I never really paid close attention to the exact date the interest was credited to my account. Common sense says that if interest is posted on "May 9", then the interest should be there on "May 9", but as we all know common-sense and the financial services industry are usually mutually-exclusive.

May 14, 2008
1:13 pm
Salty Bob
Guest
Guests

I was about to submit the same complaint/comment about the interest as mine is normall scheduled for the 13th of each month, and I checked both yesterday and today only to find it NOT added yet..!

Was planning on calling them this afternoon, but based on comments above, will wait "one" more day..

Wanted to wait until I saw the actual interest "posted/added" to my acct before transferring the whole sum out!!! Yep, still paranoid about them..AND...I still HATE the way their website works - particularly how frustrating/finicky it is when I am simply trying to log on!!!

GRRRRRRRRRRRRR!!!!

June 2, 2008
3:39 pm
Bobby
Guest
Guests

I wanted to open a direct savings account with HSBC but could not find some of the information I wanted on their site. If I were to pull not only some but all of my money say 2 years from now. Are there any penalties/fees? Also, I don't think there is a mimimum initial deposit, but can anyone confirm that this is true?

June 2, 2008
4:10 pm
Craig
Guest
Guests

No fees, penalties or minimum deposits at the moment, although this could change at any time.

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