HSBC's Flexible Saver and Instant Access Saver

MrBen_4

Anyone know what the difference is between these two?.. apart from the obvious; the slightly different rates.

From what I can see and understand the lower rates with the instant access a/c is because it comes with a cash card and you can access the money through a cash point? I just want somewhere to put some savings which I can easily move money to and from without any notice.

The Online saver has the best savings rate, but then I found out you don't get any interest in the month you withdraw from it.

I am refering to HSBC's accounts ONLY. I guess my question is shall I close my instant access a/c and move the funds into the flexible saver a/c to benefit from the slightly higher rates? Are there any T&C's I'm missing with the flexible saver? I don't need the cash card, I do my banking online and withdraw any cash I need with my debit card straight from my current a/c

Thanks in advance.

jenniferpa

I don't see any difference apart from the card. I opened a flexible saver account for my Mother, and I haven't seen any problems operating it (apart from the fact that there are better interest rates out there).

Jennifer

gt94sss2

Apart from the interest rates and ATM card, there is no difference.

There is also no need to close you Instant Access Saver - just call HSBC and they will convert it to a Flexible Saver one (keeping the same account number etc)

Regards
Sunil