Comments on: HSBC Direct Dropped Rate From 3.50% to 3.25% APY http://www.consumerismcommentary.com/2008/09/16/hsbc-direct-dropped-rate-from-350-to-325-apy/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Andy http://www.consumerismcommentary.com/2008/09/16/hsbc-direct-dropped-rate-from-350-to-325-apy/#comment-180928 Andy Tue, 16 Sep 2008 19:51:43 +0000 http://www.consumerismcommentary.com/?p=3918#comment-180928 With the drop in HSBC's APY, I think the selection factors now make ING Direct the better choice for most new customers. I agree that chasing higher rates for existing customers is not worth it unless you have more than $25,000+. On a seperate note credit tightening and Fed interest rate cuts will pressure savings account APYS for the rest of the year. This means I would be wary of companies like WaMu offer higher than average market rates. With the drop in HSBC’s APY, I think the selection factors now make ING Direct the better choice for most new customers. I agree that chasing higher rates for existing customers is not worth it unless you have more than $25,000+.

On a seperate note credit tightening and Fed interest rate cuts will pressure savings account APYS for the rest of the year. This means I would be wary of companies like WaMu offer higher than average market rates.

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