HSBC's online savings Survey completed

[pyotr]

I just filled out a survey linked to me by e-mail sent by HSBC. It was an Eric Marder-type bulletted consumer choice scale surveys. Very interesting and unintentionally informative I thought. Based on this survey, my impression is that HSBC is committed to being a market leader in the online savings business.

I say this not just because I opened up an account with HSBCdirect last month and transferred 80% of my liquid savings into them, but I know for a fact that the Marder consumer sentiment survey tools are extravagantly expensive and if HSBC is investing in this measurement instrument, they are ready to play hardball against their competitors. FYI the other banks they see themselves competing against for the near/long term apparently are INGdirect, CitiBank, EmigrantDirect, and "your local bank." The "next interest rate" HSBC is apparently targeting seemed to be "5.1%" based on the questions in this survey.

Looks like I won't have to post pictures of myself naked on the internet.

[Amaranthim]

Re: HSBC's online savings Survey completed

I recently checked into HSBC. If they really end up with 5.1%, I would have to give them a second look.

I didn't like that they wanted me to fill out a long and personal questionnaire geared strictly at gathering information about my likes and dislikes and plans --- unless I am looking for financial advice, all my bank needs to know is, this is where I live, this is my money. I don't recall the questions now, but it was all so irrelevant, I found it extremely unnerving and did not open the account based on that.

Right now, my savings sit comfortably in ING and their rate now is 4%.

I am nervoucs about leaving any money in PayPal for any length of time although their rates are even better than ING - because although I have never had a problem, I have heard so many rumors. Better safe than sorry, so I never have more than $40, $50 there.

[sweeps]

Re: HSBC's online savings Survey completed

I just filled out a survey linked to me.... HSBC is apparently targeting seemed to be "5.1%" based on the questions in this survey.

Interesting. Thanks for the info, pyotr.

Looks like I won't have to post pictures of myself naked on the internet.

Thank goodness.

[sweeps]

Re: HSBC's online savings Survey completed

Amaranthim, I'm a bit puzzled that you won't give up your personal information for an additional .8%, but you're fine with it if they throw in an extra .3%?

I don't remember having to answer questions about likes, dislikes and future goals, but if you're concerned about it, you could always make something up -- say you have no opinions and you're not interested in any additional products.

I do like that HSBC makes me jump through hoops to open an account. I'm trusting them with a lot of money and I want to make it as difficult as possible for someone else to access my account or steal my identity.

Now if the concern was about the slow ACH transfer times, I would be right there with you -- that's annoying as he11.

[Amaranthim]

Re: HSBC's online savings Survey completed

Well, I guess it's not really about personal information. It just "felt" intrusive and I couldn't see the need for it. I'm not really all that picky other than normal things like one's ss no. and dl no. which of course a bank would want. I just thought it weird and couldn't imagine what nefarious purposes some stranger in dark room with shades would want with all this...

OK, irrational conspiracy theories aside, it just struck me as odd at the time. And you're right, such a small percentage really shouldn't make a difference if I felt strongly about it.

[mrvirgo]

Re: HSBC's online savings Survey completed

From everything I've read here and on FatWallet, I decided to open an account with HSBC thinking that for $1.00 I could do nothing if they don't substantially raise their rate. If they do, I am ready to move my money into the account, slow ACH or not. I am on my last hurdle with them; I am waiting for the ATM pin to arrive via snail mail. Yes, they make it hard to open an account, but I'm not exactly loosing money with Ing Direct during the process. I began my application on March 23rd and today's April 7th. Not all that bad really.

[pyotr]

Re: HSBC's online savings Survey completed

I've transferred money into my HSBCdirect account 3 times thus far and it took 4 days twice and 5 days once. IngDirect usually took about 2-3 days. In the big scheme of things, a 2 day difference means just a few dollars in a large pot money promising to grant thousands of dollars in interest over time. I really love HSBC's personal and snappy quick customer service. I like how professionally they get things done and I'm with Sweeps that the layers of security is much appreciated. Compared to HSBC, INGdirect's interface seems somewhat frivolous and EmigrantDirect's interface is downright incompetent. Let the mybankisbetterthanyours fighting begin.

[BTC]

Re: HSBC's online savings Survey completed

If HSBC's rate is considerably higher than the alternatives, I'll consider putting my money there. I like everything about HSBC with the exception of the lengthy transaction times. That's a very important consideration for me.