HSBC Online Savings Account Now at 3.75% APY

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HSBC Bank has had their no minimum, no fees Online Savings Account around for a while now, but this is the first time they have offered a better rate than Capital One 360, VirtualBank, or Emigrant Direct. I don’t have an account there, but it does have some nice features:

  • Currently at 3.75% APY
  • Open with $1, No minimums or monthly fees
  • Online access and unlimited linked external accounts
  • ATM card and withdrawal access through any ATM, deposits at HSBC ATMs only
  • FDIC Insured, and HSBC is a major international bank.


Definitely something to look into if your looking for a good online bank. I’m not interested since it still doesn’t beat Presidential Premier at 3.87% APY. There is a $25 fee if your account is closed within six months of opening, but since there are no minimums just keep it open. They also offer a free checking account with no direct deposit requirement.

There is a promotional code, ‘DM100’, rumored to give you a $35 opening bonus for the savings account, but I haven’t been able to confirm it’s for real since it’s the weekend. My only previous experience with HSBC was opening a checking account with them years ago for a bonus which I never received, so I’m a bit wary.

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Comments

  1. Also, this to my knowledge is the only ING type account which allows you to set up a link with your brokerage account,which is great if you have a brokerage account that charges a fee to wire money out.

  2. thanks for the tip. ing is now .50% below that rate on the aPR I notice.

    ps – i have my brokerage at Fidelity, they allow you to transfer $ to your bank via a linked account. Maybe i will look into that HSBC if ING doesnt budge.

  3. THE HSBC ACCOUNT IS ACTUALLY 4%APY AND THEY DONT HAVE THE MINIMUM OF $500O LIKE THE PRESIDENTIAL ACCOUNT. BESIDES HSBC IS ACTUALLY A REAL BANK NOT JUST AN ONLINE BANK. THEY HAVE BRANCHES ALL ACROSS THE US AND AROUND THE WORLD. AND WITH THE NO MINIMUM AND NO FEES AND THE ABILITY TO TRANSFER MONEY IN AND OUT OF THE ACCOUNT WITH ANY BANK IN THE US FOR FREE ITS THE BEST ACCOUNT I HAVE FOUND ONLINE YET. THEY EVEN GIVE YOU AN ATM CARD FOR FREE WITH THE ACCOUNT. IVE LOOKED AROUND QUITE A BIT FOR THR HIGHEST RATE I COULD FIND AND HSBC IS IT. THEY HAVE BEEN AT 4%APY FOR A WHOLE MONTH NOW

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