When Will This Stop? – HSBC Direct Reduces Rates

Deja vu? As predicted in my earlier post, HSBC Direct drops there rates to 3.80% APY.

We are writing to inform you that based on the recent drop by the Federal Reserve, HSBC Direct has adjusted your Online Savings Account rate to 3.80% APY*. At 8x the national savings average**, you are still earning one of America’s highest savings rates.

HSBC Direct will continue to evaluate and respond to market changes so we can provide you with competitive rates. And if your rate changes, whether up or down, we are committed to always letting you know.
And with today’s 50 basis point reduction, we’ll expect once again that high-yield savings accounts will continue to reduce their rates next week. Tears falling from my eyes…

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