tansynelson said:The only difference between HSBC and ING is that ING is telling you what the rate will be after the teaser rate is over. HSBC just leaves it hanging. It is anyones guess what the rate will be after. If the 4.80% was not a teaser there would be no need for the "After 04/30/06..." statement.

Frankly speaking, it's anyone's guess what ING and HSBC rates will be after their promotions. Sure, ING's regular rate might be listed as some percentage on April 15; but there's no guarantee it will be the same the next day. They both have a guaranteed rate until a certain date. After that, we can't say what either one will be. ING might give us a "clue" from their regular rate but as we know, that rate can change anytime, just as HSBC's "phantom" regular rate can change at anytime. The only real difference I see is one bank applies the guaranteed rate to all deposits, the other one does not.

Put the follwing in the quick summary because that seemed a good place for it.

Rate Chaser Calculator

Just plug in current APR (not APY) the APR you are moving to and the days of lost interest and it will calculate days to break even.

FYI, Online Bank Lost Interest During ACH Transfer Experiment Results


edit: fixed link

What does:
Please be advised that HSBC rate is good Now through April 30th, 2006. Since then APY will be 4.25%
mean? I am pretty sure that it isn't true. Any documentation?

Boomp has created a thread for discussion on interest rate moves. Thought perhpas you could link to it in the quick summary. Thus, rate discussion and articles could be posted their. Would help keep your thread targeted and focused.


david

Found this on Centennial Bank.
Anyone have experience with them?

18837 Brookhurst Street, Suite 100, Fountain Valley, CA 92708

Centennial Bank is a commercial bank with state charter. It is Fed nonmember and is supervised by the FDIC.
Centennial Bank began operations on 10/25/1979. Centennial Bank recently reported it had 1 branch offices in the US and overseas.
Web address listed with FDIC: http://www.centennialrates.com

Financial Info
Last day of the financial reporting period selected: 6/30/2005
* Total Assets: 536,644.00
* Return on Assets: 1.29
* Equity capital: 54321
* Return on Equity: 12.6
Other Data
* FDIC Certificate #: 32707

Updated the list.

thugrilla reported that California Savings Bank's Platinum Money Market is no longer offered yet they upped the interest rate. Can someone verify?

I feel that Independence National Bank is a promo because of "Offer available on new accounts only." This implies that there is another rate structure (which I can not find). If someone can show that this is not the case I will add it to the list.

Cheap said:Updated the list.

thugrilla reported that California Savings Bank's Platinum Money Market is no longer offered yet they upped the interest rate. Can someone verify?

Probably the same kind of thing as my Salem Five Platinum Checking. They don't offer the same product I have anymore, but for me and others who opened we still have our rates adjusted every month. Is now at 4.73%. So those upped rates at CSB are most likely for people who already had the account

Thought this link should be somewhere linked in the Best Current APRs thread:

Check that your bank is really FDIC insured

If you were starting today, would you choose HSBC or GMAC savings accounts to put your money into ($100,000) ?

mariojm said:gracefulshan said:If you were starting today, would you choose HSBC or GMAC savings accounts to put your money into ($100,000) ?

How about 50k in each? Spread your risk.
Nope, the answer is Superior Savings Incredible Money Market @ 5%