looking at the numbers, it looks like Emigrant and Presidential have stayed one step ahead of the fed rate, except for the last hike in the fed rate. HSBC has been pretty consistent in just following the fed rate. This might give some insights as to what will the rates be after the promotional rates at HSBC and ING end and hopefully will lead to better planning in moving money around.

xerty said: ....the more money, the more worthwhile it is.

ummm, is that ONE of the reasons why the rich gets richer? and I thought they just worked harder....

HSBC is for all money in the account, ING is just for "new money."

Does anyone already own a HSBC Direct account?

I was reading through the Terms and Conditions for online Accounts and I noticed that

there are these Miscellaneous Bank Service Fees *subject to change without notice*.

The 2 that caught my eye were:

1.) Funds Transfer-In, per incoming transfer $15/each
2.) Funds Transfer-Out, per outgoing transfer $30/each.


From my interpretation, each time we transfer money into the account, there is a $15/dollar fee, and each time we transfer money out, there is a $30/dollar fee.

This completely lowers the APR even though they are stating 4.8% at this time.

I'm not aware of EmigrantDirect or ING having these "Miscellaneous Bank Server Fees*.

Please let me know if there are, that would be a big factor on which account I decide to go with.

Thanks all!

howie888 said:From my interpretation, each time we transfer money into the account, there is a $15/dollar fee, and each time we transfer money out, there is a $30/dollar fee.

This completely lowers the APR even though they are stating 4.8% at this time.

Your interpretation is wrong. It's spelled out pretty clearly in the HSBC thread. Those fees are for wire transfers, which almost all banks charge for.

There's also this from the HSBC Site: "No transaction fees will be charged for HSBC OnlineSavings, Domestic Private Banking or HSBC Premier customers." The Savings Account is the HSBC OnlineSavings.

There's a big difference between wire transfers and ACH pushes and pulls. One is almost instanteous and costs money (Wire) and the other takes a day or two (a few in HSBC's case) and is free.

davidaexp1 said:I think it would be better to assign a point score for every day a bank is in the top 10, then the one with the highest scores over time likely reflect the leading bank. 10 would be the highest 1 the lowest.
What top 10?

badguy said:Don't forget UFBDirect's rate jumped up to 4.60%

4.60% for 50k minimum

4.30% for 0 minimum

Still good, since others are those temporary higher rates that go back to 3.8% or similar.

timequaker said:I have a question regarding ING that I was hoping some kind soul could answer. So you deposit money electronically using ACH (like a direct deposit) and this incurs no fees. How do you remove money from that same account? Are there fees associated with fund removal? Any bad experiences with ING? Trying to convince a GF to deposit some extra money there and I want to be sure I know all the answers.

Thanks

Reverse direction works without any fees, but there is a limit of the number of monthly withdrawls.

76hhma said:timequaker said:I have a question regarding ING that I was hoping some kind soul could answer. So you deposit money electronically using ACH (like a direct deposit) and this incurs no fees. How do you remove money from that same account? Are there fees associated with fund removal? Any bad experiences with ING? Trying to convince a GF to deposit some extra money there and I want to be sure I know all the answers.

Thanks

Reverse direction works without any fees, but there is a limit of the number of monthly withdrawls.

And there is a hold time on newly deposted funds, 5 days?

Added UFB Direct HYMMS to the original post.