Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this5:20 pm
I just opened up a HSBC direct saving account which has been connected with my chequeing account at local financial institution. And I do have other online saving accounts such as citizens bank and CTFS. I would like to know if I am allowed to add those online saving accounts by using the "bank to bank transfer" function. But obviously I wont have a cheque book for those saving accounts. Do I really need to print the online statement and send it out in order to make the connection?
Anyone helps? Much appreciated!
10:59 pm
Quoting jc february 9:
"You could link additional accounts if you have
(a) a blank personalized cheque marked "VOID", or
(b) an original bank statement, bearing your full name and current address.
You will need to send it to HSBC with the authorization form to have it linked.
Since you cannot obtain a authorization form until your new account is opened, it will be quicker to transfer it through your main bank account first.
**I have never linked any accounts that did not provide cheques since I do not know if the transfer will fail or incur any fees not disclosed."
1:55 am
I read somewhere on RedFlagDeals.com forum where someone tried linking CTFS savings account. When he tried transfering money from CTFS to HSBC, the transfer was reversed a few days later because CTFS refused it. Transfering funds in to CTFS may still work though.
As for Citizens Bank, I have tried it sucessfully with the Investment Savings account but have not tried linking Ultimate Savings account.
I believe they will only accept original statements, so you should verify with HSBC if you plan to print your own. If you are going to try linking the ultimate savings account, you could change the statement settings so you receive the paper statement and change it back afterwards since it is free.
6:21 pm
...[Transfers from your High Rate Savings Account to your other Canadian financial institution account are subject to applicable service charges.]
I've just opened a direct savings account with HSBC and I was wondering after reading the preceding statement if the "no fee or charges apply to a direct savings account transfer to my National Bank checking account ? At least on HSBC's side.
7:13 pm
December 18, 2008
Offline
There are no fees on the HSBC. I can confirm this as I have done several transfers in and out of HSBC direct savings. That statement is there to warn you that in your case National Bank may change you something...because they don't know what type of package you have with your other bank. So if you have a package that includes debits on your national bank account - you will be fine.. There are no special transaction fees or anything like that.
3:11 am
SG said:
There are no fees on the HSBC. I can confirm this as I have done several transfers in and out of HSBC direct savings.
HSBC charges $2.50 for any check foreign fund deposit (USD, GP, etc)
HBBC charges $10 for any wired foreign fund deposit (USD, GP, etc)
Not as bad a Scotiabank, but enough to keep me thinking about moving to another bank in the future.
Mike
6:15 pm
December 18, 2008
Offline
I was referring to the bank to bank transfer fees with your already linked accounts at other financial institutions as that is what the original question was entailing.
Most if not all banks charge for incoming wire transfers now as well as funds deposits to an account in a currency other than what the account is.
Just thought I would clarify my original post
Please write your comments in the forum.