HSBC Online Savings Account

brooker_2

Can anyone give some advice on online savings, are they any good?

Madiba_2

Depends what you mean by "good".

HSBC dont do very good rates. Even their Premier Rate with a one year bonus is only 4.92% if you invest over £100k. So I would bother putting any significant money there. Its handy if you already bank with them, as transfers are instant.

Happy to discuss more if you give me more to go on...

Ivrytwr3

http://www.hsbc.co.uk/1/2/personal/savings-investments/savings/regular-saver

Nothing wrong with this HSNC offer (is there?!)

Madiba_2

Nothing "wrong" with it.

But its 4.5% less than Barclays.

Its only for one year, where Lloyds is for 2.

It requires an HSBC current account that pays rubbish interest.

?

TeaBoy_2

i think they're good. slightly better rates than a normal savings account. i still been able to access money ok but lose interest for that month if i withdraw. im with 1stdirect at 5%. bradford & bingley have a higher rate of 5.35% and reading their t&c there's no penalty for withdrawing.
obviously regular saver is better if your going to be putting income in.

Ivrytwr3

i only want to save year by year and it's 8%.

Where are the details for the Barclays product?

Froglet

Hiya.If you are already an account holder with HSBC then the regular saver is a good account if you put spare cash away every month.I am on my second year.The website is very simple to use and i have had no problems with it,or HSBC at all.However i do use other institutions for Isas and savings accounts as they do pay better interest.As everyone says,spread your investments and get the best of what is around,but a good reliable current account,even with low interest, is invaluable.

Madiba_2

Yeah, the HSBC internet banking is probably my favourite out of the 15 or so that I have.

Their "online saver" isnt that good. But the regular saver is ok.

The original question didnt really ask about the reggy saver tho.

Ivrytwr3

the online saver sucks hairy sweaty donkey balls. But i have my current with HSBC and so have opened the Regular Saver2. The OP asked about online savings and was not specific about which account and i assumed therefore they were asking an open question, which is why i suggested the Regular Saver2.

Milarky

When I opened an Online Saver last year I thought they only paid interest on balances kept at £500 - now this no longer seems to apply.

I also have a First e-saver (exactly the same account) and you can pass money between the savers instantly via an HSBC or FD current account.

So, with the relaxed balance requirement, it is possible to make one 'free' withdrawal each month (if taken on 1st) by emptying one account into the other. (But only if you had the accounts already I suppose)

tom188

Ivrytwr3 wrote:

i only want to save year by year and it's 8%.

Where are the details for the Barclays product?

Try the barclays website...