4 replies to this topic

[alanmax]

LINK


Terms:

To qualify for cash bonus, you must open a 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. Interest Checking Account required to receive the $50 cash bonus. If you qualify, $50 will be deposited into your savings account 6 to 8 weeks after account opening. HSBC reserves the right to charge your savings account 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) which are accurate as of October 1, 2007 on Premium Money Market Plus Savings Account are 0.50% APY on balances of $1.00 or more but less than $15,000; 2.45% APY on balances of $15,000 or more but less than $50,000; 2.70% APY on balances of $50,000 or more but less than $75,000; 3.00% 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 November 30, 2007 and cannot be combined with any offers.

[Bankgeek]

LINK


Terms:

Open a Premium Money Market Plus Savings Account,
with qualifying deposit, and get a $50* CASH BONUS!

If you're looking for a smart way to save money, try the Premium Money
Market Savings Account. It features a tiered money market rate that
earns a higher interest rate for higher balances.

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.

Interest rates seems way too low. But you could open the account, put in $3,000 than pull the money out leaving the account open. Since there's no minimum balance you still get the $50 bonus. Seems like a lot of work for just $50.

[whistler]

Not at all worth doing. It's not because it's "only"50 bucks, it's that you need 3k to do it. With such low interest rates you're losing money by putting that 3k into HSBC instead of in emigrant direct's savings accounts or even citibank's esavings account which offer much higher rates. These deals are great when the deposit is like 100 bucks or so because you usually get a great return on your deposit. I'm pretty sure HSBC requires you to have a daily minimum balance, so you can't immediately pull it out, if this isn't true it prolly is worth doing.

[Bankgeek]

Not at all worth doing. It's not because it's "only"50 bucks, it's that you need 3k to do it. With such low interest rates you're losing money by putting that 3k into HSBC instead of in emigrant direct's savings accounts or even citibank's esavings account which offer much higher rates. These deals are great when the deposit is like 100 bucks or so because you usually get a great return on your deposit. I'm pretty sure HSBC requires you to have a daily minimum balance, so you can't immediately pull it out, if this isn't true it prolly is worth doing.

On the HSBC website it says no monthly maintenance fee and no minimum balance. No mention about a hold. Maybe they put a 10 day hold on it? Plus the time it takes to get it there and back. It could be 18 business days. That might be 24 calender days. You lose about $10 if you have it in an account that pays 5%. You make $40 but you also get an inquiry at Chexsystems. It's better to use it on some other deal. Most likely there has to be a better deal some place.

[markber]

The offer is valid again until 11/31/07