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After having an HSBC Online Savings account for over 5 years, I felt it was no longer providing a decent interest rate and decided to close it. They said I needed to do it by calling customer service after I had transfered out all money and it had a zero balance. So, although I had been on hold for about 15 minutes in order to get that info, the rep said I cannot use snail mail or email or the bank mail to make the request so I made a note to myself to call after the transfer was complete. On that next call, what a nightmare! It took over an hour with much of it hold time and they could not provide me with confirmation of the closing, access to my last statement, or to my 2012 1099INT when it's available. And no, they can't just mail me a copy either. For each of those I must make additional calls to c/s which in and of itself meant navigating a maze of deadend automated menus in trying to reach a human. I had to press 3 to open an account to get to an actual person. And each time the humans have not been very helpful and have put me on hold after hold after hold. I just wanted to share my 2 here. I have never complained about a bank before but this one merited letting others know... It's just not worth it!

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They will send your 2012 1099int as they are required by law to do so.

You signed up for a no customer service bank account that paid you with higher interest rates (a long time ago), what did you expect?

A: HSBC Online Savings has a .80% rate right now which is the highest rate LOCAL Bank right now with lots of branches and ATMs in many markets it serves.

B: Online Savings requires no minimums to keep the account open and has no fees. There is no reason to close it.

I have been with HSBC for many many years. I did have some issues early on but over the course of doing business with them, they have improved their procedures dramatically and put in new infrastructure including deposit taking and check scanning ATM machines. I have never had a reason to call HSBC in a long long time and the automated systems are excellent.

Their online banking is lacking some functionality of other banks however such as ebills.

Just keep it open. I think the minimum is one buck. I use it as a conduit to treasurydirect, so at least I get double interest when I wait to open my i bond yearly at the end of the month.

I used this process a few months back. I only had a dollar and change in the account and they sent me a check. http://www.bargaineering.com/articles/how-to-close-an-hsbc-online-savings-account.html

Granted HSBC does have poor customer service but I think you are over complicating this task.

1.) Tramsfer your money out
2.) Wait till the current cycle closes and transfer out residual interest.
3.) Download your statements for 2012. We are in April. So you have have at most five statements. I'm sure you can determine interest paid from those five statements.
4.) Email them you want to close. I've done with this with a checking account and it was a effortless.



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