HSBC ups Online Saver rate to 5.75%

Limes

No, they haven't but as HSBC and First Direct are seperate legal entities any funds coming in from outside HSBC accounts should be valid to receive the 5.75% the key is in the blurb on:

http://www.hsbc.co.uk/1/2/personal/savings-investments/savings/online-saver?WT.mc_id=HBEU_TouchClarity_HPMain_SaveCampaign_OS

they say "only payable on new to HSBC deposits". In their terms and conditions they also refer to HSBC Bank PLC and non-HSBC Bank PLC accounts in regards to funding.

I think that you've raised an important note on the ambiguity of their wording and I think that this is a result of a rush job of trying to get this offer to market rather than a vague attempt to not pay interest on monies coming in from First Direct.

***Have now actually called HSBC to confirm this and the agent spoke to a supervisor and stated that First Direct transfers would be eligible for the 5.75% they do not constitute HSBC deposits.

Mr_K

For info, I've received the following written response from HSBC as to whether money transfered via my HSBC current account from another provider would qualify for 5.75%.

"The new money means new investment. You can transfer funds from your other HSBC account into the Online Saver account and still be entitled to 5.75%"