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HSBC's Flexible Saver and Instant Access Saver

MrBen_4
Posts: 147 Forumite
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.
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.
0
Comments
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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).
Jennifer0 -
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
Sunil0
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