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In a perfect word, I wouldn’t spread my money among more than one or two savings accounts. There is value in simplifying personal finances and I try to take that approach where possible. Forces are working against me, however, keeping my finances more complicated than they would be otherwise. Occasionally I review and evaluate banking products ... Continue reading this article…
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It’s a new year and a new decade. I expect the next ten years will fly by and 2020 will be here before I know it. Thinking about how fast the future is barreling towards the present is inspiring me to start making real changes in my life, and if there is an opportunity to ... Continue reading this article…
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It’s not your imagination. Banks are now looking for ways to actively discourage new deposit accounts. It’s not just through lowering interest rates, they are scaling back marketing. It makes sense from a business standpoint; the economy is not so great, so companies are saving their operating expenses. Here is a summary of the most recent ... Continue reading this article…
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Ever get the feeling that someone is trying to get you to spend your money, perhaps to stimulate the economy? Banks seem to offer no encouragement for deposits lately. Here are some of the latest interest rate drops over the past few days.
Dollar Savings Direct has dropped from 4.0 percent to 3.5 percent APY (2.0 percent ... Continue reading this article…
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The way banks are dropping interest rates on savings accounts, you would think they don’t want your money. Most “high-yield” savings accounts now offer rates well under 3 percent. HSBC Direct is the latest to announce an interest rate cut, from 2.6 percent to 2.45 percent APY and is currently at 1.55 percent as of May 2009. ... Continue reading this article…
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HSBC Direct must have heard that I was planning to transfer some of my savings to the bank, which until yesterday had been offering 3.0 percent APY. Following other banks that lowered interest rates for the new year, HSBC dropped their interest rate 13 percent to 2.6 percent APY and is now 1.55 percent APY as of May ... Continue reading this article…
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One thing to keep your eye on in 2009 is your savings account. Over the past few days, several banks have lowered the interest rates on high-yield savings accounts. This is not a good sign for those who want to have liquid assets without losing purchasing power. You may want to start the new ... Continue reading this article…
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HSBC Direct lowered the interst rate offered on its online savings account to an annual yield of 3.0 percent today, almost two years after the bank offered a leading 6.0 percent APY. Here’s their latest corporate communication, sent to all account holders: Since I last wrote to you in mid September we have seen much change in the global ... Continue reading this article…
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This morning, online bank HSBC Direct ended the extended promotion in which customers were offered a savings account earning interest of 3.50 percent annual percentage yield. This was planned; when the promotion was extended back in July, the company warned that after September 15, the interest rate would return to normal, which it has. The interest ... Continue reading this article…
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I received an email to inform me that HSBC Direct has extended its “promotional” interest rate on the online savings account of 3.5 percent APY to September 15, increasing this promotion by one month. I’m not sure what the difference is between a “promotional” rate and any other rate; as always, interest rates on savings ... Continue reading this article…
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