Can anyone help with HSBC and EmigrantDirect Feature comparision?

The rates are the same. How do we choose between the two?

Flip a coin?

HSBC:
A $3.00 transaction fee will be charged for each outbound transfer from your HSBC accounts to your non-HSBC accounts

OTOH, Emigrant is limited to two linked accounts.

There are no fees for any transfers for the Online HSBC account, Emigrant has a limit as far as linking external accounts go, HSBC has none, to link accounts with HSBC you don't have to mail in checks, with Emigrant you have to mail in for the additional links, HSBC allows you to link brokerage accounts, There are no hold periods on ACH transfers, as soon as your money appears in your account is available to you, and you have nothing to lose by opening a free checking account, there is a $50 bonus out there, you get free checks, you can transfer between the 2 account instantly, I keep $0 in my checking until I need to pay bills thats when I transfer the money over, there are no fees at all, only fee they charge should not affect anyone here, which is a inactivity fee, If you have no activity for 3 months your hit with a fee, but everybody pays bills, so... The only negative I can say is - Today I was in Queens NY, I had 3 checks on me, I been holding on to them for a while so when I saw an HSBC branch I said let me deposit these checks, I walk in, pick up an envelope to deposit through the ATM, the whole thing was written in Chinese! not part Chinese part English but all Chinese! look at the deposit slip and it was all in Chinese! look at the tellers and none of them are Chinese, now when I deposit this, how will they be able to read this? I guess it's no big deal, but I was really pissed, If there wasn't such a crowd I would have spoken to somebody, We really need to make the English the official language!!! It's an outrage! But as far as choosing between the 2 there really is no competition, HSBC hands down.

How long will HSBC 3.5% last? Ever since EmigrantDirect is open there rate is always going up

hiddendragon999 said: TonySpero said: I walk in, pick up an envelope to deposit through the ATM, the whole thing was written in Chinese! not part Chinese part English but all Chinese! look at the deposit slip and it was all in Chinese! look at the tellers and none of them are Chinese, now when I deposit this, how will they be able to read this? I guess it's no big deal, but I was really pissed, If there wasn't such a crowd I would have spoken to somebody, We really need to make the English the official language!!! It's an outrage! But as far as choosing between the 2 there really is no competition, HSBC hands down.

HSBC is a forward looking bank. Chinese will be the official international business language in just a few decades. There are already 4-5 times more Chinese speaking people than English speaking in the world today.

Lol! Good one!

Ironic that there's so much xenophobia in a thread about Hong Kong Shanghai Banking Corporation & EmigrantDirect.

Sad that some have such a dim view of the US - we're so small and dumb that we can only survive as a monoglot culture. A country that spans a continent and encompasses such a variety of cultures and languages. No one remembers the hundreds of german language papers in the midwest or considers the role miami plays as the financial capital of latin america.

Better to hide in a cave.

manuel said: Ironic that there's so much xenophobia in a thread about Hong Kong Shanghai Banking Corporation & EmigrantDirect.

Sad that some have such a dim view of the US - we're so small and dumb that we can only survive as a monoglot culture. A country that spans a continent and encompasses such a variety of cultures and languages. No one remembers the hundreds of german language papers in the midwest or considers the role miami plays as the financial capital of latin america.

Better to hide in a cave.

Your so far off, nobody says other languages are not welcome, you bring up German papers, they are targeted to Germans, If you walk into a bank in NYC, is it to much to ask to be able to conduct business in English?

hiddendragon999 said: Kikkoman said: hiddendragon999 said:
HSBC is a forward looking bank. Chinese will be the official international business language in just a few decades. There are already 4-5 times more Chinese speaking people than English speaking in the world today.

Thanks for that tip, hiddendragon ... I'll get right on it. To better fit into the larger culture, I'll stop brushing my teeth from today and chop Lassie for a nice meal tonight.


English speaking people are a world minority group. Furthermore, all future mortgage applications will be in Chinese as they are your lenders. Find the nearest Chinatown, and enroll your children now!

China is overrated, ultimately doomed to be done in by its demographics. The Chinese birth rate is below replacement levels and in the next 20 or 30 years the Chinese will have a higher percentage of people over 65 than the US. The US and Western Europe also have problems with an aging population, but they are rich and can afford the adjustment with some effort. China will be the first poor country to face this, and it is doubtful that they have the finanical wherewithal to support such an aging elderly population and continue strong economic growth. This is going to cause them severe problems in the future.

HSBC is not a Chinese bank. It's actually founded by a Scotsman and headquatered in London.

I walked in to HSBC in NY Chinatown, and there were writings in Chinese but the person that we spoke with spoke fluent english.

Yep, we should live in a cave.

Top ten banking groups in the world ranked by tier-one capital in 2004 (In U.S. Dollars)
Citigroup — 73 billion
JP Morgan Chase — 69 billion
HSBC — 67 billion
Bank of America — 64 billion
Credit Agricole Group — 63 billion
Royal Bank of Scotland — 43 billion
Mitsubishi Tokyo Financial Group — 40 billion
Mizuho Financial Group — 39 billion
HBOS — 36 billion
BNP Paribas — 35 billion

Top ten bank holding companies in the world ranked by profit in 2003 (In U.S. Dollars)
Citigroup — 20 billion
Bank of America — 15 billion
HSBC — 10 billion
Royal Bank of Scotland — 8 billion
Wells Fargo — 7 billion
JP Morgan Chase — 7 billion
UBS AG — 6 billion
Wachovia — 5 billion
Morgan Stanley — 5 billion
Merrill Lynch — 4 billion


The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865.


Source: http://en.wikipedia.org/wiki/Bank

UselessDrivel said: EugeneV said: UselessDrivel said: HSBC:
A $3.00 transaction fee will be charged for each outbound transfer from your HSBC accounts to your non-HSBC accounts

Not if you have OnlineSavings.

I'm not doubting you, but does the site say that anywhere? The $3.00 info came from their rate page, and isn't account specific.

https://www.banking.us.hsbc.com/inside/A2Aagreement.html

Maybe you could just pick a bank with a higher rate than either of these and not worry about this comparision. There are lots of them on the thread on this site and at http://www.bestcashcow.com which pay more- they generally do have minimum balances, but some are as low as 1000

Fyi - there is no fee in inboud or outbound if you have the savings account. I have done many outbound transfers (actually over 6 last month - got a nasty letter) but no fee.

mikeres said: doglar said: Fyi - there is no fee in inboud or outbound if you have the savings account. I have done many outbound transfers (actually over 6 last month - got a nasty letter) but no fee.Which bank are you talking about - HSBC or ED? HSBC

Are HSBC Online Savings Accounts FDIC insured? Link?

I know Emigrant Direct Accounts are. To me that would be the deciding factor.

omarECD said: Are HSBC Online Savings Accounts FDIC insured? Link?

I know Emigrant Direct Accounts are. To me that would be the deciding factor.Funny people are always concerned about FDIC...has anoyone ever seen ANY popular US bank that ISNT FDIC insured???

i doubt it

Hello,Im new here and I didn't know exactlly where to post my question at.

I want to open up a second account thats different from my main account that I would only use for online and other small purchases.I want to know whats the best way to go about doing that?
Should I go to a local bank and just open an account with a new bank or my main local bank and just use a debit card?,should I open an online banking account?...or whatever choices thats out there.

Im very to this checking rates and making the best choices..ect,I need to feed a book that titled "Banking for dummies" because this is all new and confusing.Oh yeah the reason why I decided to post in here is because I have an HSBC in m area....and with the rates I was interrested in maybe going with them.


Thanks for any advice or help....

I have both. THe main benefit of HSBC is the ATM card. Emigrant seems to deposit money faster when you do an ACH transfer FROM them though. Just a day, but could make a difference.

doglar said: mikeres said: doglar said: Fyi - there is no fee in inboud or outbound if you have the savings account. I have done many outbound transfers (actually over 6 last month - got a nasty letter) but no fee.Which bank are you talking about - HSBC or ED? HSBC

I got the same thing from ED.