HSBC High Yield Online Savings Account

3.25% from HSBC Online Savings Account
With banks toppling left and right and ING Direct reducing it's APYs on both savings and checking accounts, HSBC seems to be one of the few large banks still afloat in an ailing banking industry. HSBC Direct, their online savings account is offering a high yield APY, with no monthly fees and no minimum balance requirement. And the best thing is that we need only $1 to start the savings game. No wonder Kiplinger's Personal Finance magazine named HSBC Direct “Best Online Savings Account” in 2006.

  • HSBC Advance - High Yield Online Savings Account

  • High % APY - One of the highest savings rate in the country.
  • No monthly fees - No matter how much we use HSBC's ATMs or how many times we transfer our money, there are no fees.
  • No minimum balance requirement - It's always up to us about how much we keep in our account.
  • Only have to put $1 in to start - However we choose to fund our account, there's no fee to open and the application is easy.
  • Don't have to open a checking account with HSBC - HSBC Direct works with any account that we already have through Bank to Bank transfers.
  • Account Management
  • Our account will be managed on instead of at a branch - It's easy and we'll have access to 24/7 customer support, ranked “Best Customer Service in 2006” by Kiplinger's Personal Finance magazine.
  • Depositing or withdrawing at any US HSBC ATM - We can get to our cash anytime.
  • Sending our deposit by mail.
  • Transferring funds online to and from your other bank accounts - We can connect HSBC Direct to as many checking accounts as we want, regardless of what bank they're at.
  • We'll be banking in a secure online environment.
  • Our money's FDIC-insured to the maximum permitted by law.
We have been happy customers of HSBC Direct which is indeed a very good online savings account. In fact we found their user interface, features, security and reports to be far superior than any other online savings account that we've used so far. Happy Saving!