Need Help Please With HSBC Savings:

gt94sss2

Rich_T wrote: »

Just out of curiosity, do you also have a similar setup. i.e Use a current account for direct debits/bills/general spending. Then have you associated savings account which you then use to transfer funds over when needed?

Yes, I normally keep very little money in my current account and just transfer money over as its needed.

I have quite a large overdraft facility with HSBC and - as I check my balance daily - if I forget to transfer money to my current account can take advantage of the fact that they don't charge any interest as long as your account is in credit at the end of the day (even if technically overdrawn at some point during the day) unlike almost every other bank.

Regards
Sunil

jerrymind

"The HSBC flexible saver has rubbish interest rates (i.e. they start at 2.3%) .. however, if you otherwise would keep the money in your current a/c I guess that something is better than nothing." The savings account can take advantage of the fact that they don't charge any interest as long as your account is in credit at the end of the day