HSBC Direct Offering 6% APY On New Deposits
Personal Finance
Received an email from my current high yield savings account of choice, HSBC Direct, stating that from now through April 30th they are offering 6% APY on new funds in your account. Wish the promo period was a bit longer, but overall still a very good deal.
Until April 30, your HSBC Direct Online Savings Account gives New Money 6.00% APY*. So if you have money elsewhere, it’s time to move it. You’ll maximize your savings and reach your goals and dreams faster.>
During the New Money promotion, deposits from outside of HSBC earn a market-leading 6.00% APY*. That’s 11 times what traditional savings accounts offer.** And checking accounts obviously can’t compare.
You’ll earn up to $150 in just 3 months on every $10,000 of New Money deposited. And, with compounding interest, your savings will continue to grow even after the promotion.
There’s no reason to have your cash lying around anywhere else. >Log on to move your money into your HSBC Direct account now, and earn 6.00% APY* for as many days as you can until April 30.
So if you have some extra cash lying around, now might be the right time to pop it into your HSBC Direct Account.
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That’s looking pretty solid. Right now I’m doing Citibank’s eSavings and I really like being able to deposit checks directly to a bank — without doing a draft (because my bank charges me for those). Can you mail-in checks to HBSC? What’s the typical turn-around time? What about withdrawal? Is there a sister checking account that I can transfer to from savings and write checks from?
Denise - You can mail checks to HSBC, there is a topic in the HSBC FAQ titled ‘How do I make deposits by mail?’ that should give you all the details on that. I’ve never mailed them (I have a local branch nearby) so I can’t say what the turnaround time is.
The Online Savings account provides you with an ATM card to withdraw money from your account (though if you do it at a non-HSBC ATM you will be charged for it).
I use the account in combination with a checking account which transfers quickly (1 day) and gives me check writing access. They have a free checking account with no fees and no minimums which is a good pair with it. Personally I have the Interest Checking account which gives you a few extras like a .15% APY on your checking (woopie!) and your first order of checks free - you need $3000 combined in all HSBC accounts to avoid fees (for example you could have $10 in your checking account and $2095 in you Online Savings account).
Hope this answers your questions!