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Get $50 for opening an HSBC MM+ Savings Account

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BankofGreed
4/27/07 11:50 PM
I received a flyer in the mail regarding a $50 cash bonus for opening up a premium money market plus savings account.

The rest is taken from the website:

The higher your balance, the higher your interest rate.

Most savings accounts offer a fixed interest rate regardless of how much you keep in the account. The HSBC Premium Money Market Plus Savings Account rewards you for maintaining higher balances. Now, when you open one with a qualifying balance by May 31, 2007, we'll give you a $50 cash bonus!

Maximize the returns, minimize the fees.

No monthly maintenance fee
No minimum balance
Tiered money market rate
Open your Premium Money Market Plus Savings account today.

To open your account, apply online, call 1-866-427-2065, or visit any HSBC branch. But hurry, this offer expires on May 31, 2007!

* To qualify for the cash bonus, customers must open a new Premium Money Market Plus Savings Account with an initial deposit of $3,000 of new money. New money means funds not previously held by any member of the HSBC Group. If you qualify, $50 will be deposited into your savings account 6 to 8 weeks after account opening. HSBC reserves the right to charge an amount equal to the bonus unless the new deposit account remains open and active for at least 180 days. The Annual Percentage Yield (APY) and balances which are accurate as of April 1, 2007 on Premium Money Market Plus Savings Accounts are 0.60% APY on balances of $1.00 or more but less than $15,000; 2.65% APY on balances of $15,000 or more but less than $50,000; 2.90% APY on balances of $50,000 or more but less than $75,000; 3.15% APY on balances of $75,000 or more. APY is variable and subject to change. Fees may reduce earnings on the account. Cash bonus is considered interest income and will be reported on IRS Form 1099-INT. Limited to one (1) cash bonus per household. Offer expires May 31, 2007 and cannot be combined with any offers.

Click here for more details.
WikiPost
4/27/07 11:50 PM
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
hejustlaughs
5/1/07 12:21 AM
$3,000? Ouch.

Not a bad deal if you currently have AOR money or have $3,000 of free cash.

$50 on $3,000 nets you an easy 1.7% return.
ramo
5/1/07 12:47 PM
Only problem is your $3000 only earns 0.6% APY, so if you have to keep the $3,000 in there for 6 months, you're still only looking at 3.9% APY, if I calculated that right.

edit: unless of course, you can pull $2999 out after initially funding and getting the bonus... or they count the balance from your savings account.
busterbaxter
5/12/07 1:19 AM
the terms do not say that you need to keep $3000 in the account for 6 months. It just says the account needs to be opened for 6 months and that there is no minimum balance.
BrunoB
5/26/07 7:44 AM
Any one tried successfully to open a new 2nd MM+ Savings account and qualify for this bonus? It does not say anything about a new 2nd account (with new money, of course). Any ideas? CSRs seem to be not well informed on this.
jairocon
6/18/07 4:14 AM
Original link leads to an offer that's been extended:

Act now and get $50.
But hurry, this offer expires on July 31, 2007!
SinglePapa
6/18/07 3:59 PM
I listened to you Busterbaxter and Ramo: pulled out $3049, left $1 in.
I also still have a checking (that paid out $75 bonus), and I paypal myself $1 into it monthly.

Is this a sufficiently right position (for no service charges over the next 5 months)?
Xeon852
8/4/07 4:49 PM
Did anyone get credited for this?

I deposited $3000 new money on 5/4, pulled out $2900 on 5/16 and haven't gotten anything yet. Past the 8 weeks now, will be sending a bankmail.
BrunoB
8/4/07 5:00 PM
Opened 06/15/07. Nothing yet. I have given up.
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