HSBC e-ISA rate change

Aegis

Inside word is that the rate of this product is going to be increased to make it one of the top-performers available. If my source is correct, it will be rising to 6.25% AER shortly.

Obviously don't go for it before it's officially announced, as they can always change their minds before then.

NB: I work for HSBC, but don't normally plug the products. However, this sounded like a good bet for anyone who hasn't jumped on the ISA wagon this year. I hope people aren't going to be too upset by this

1echidna

Thanks Aegis'. I have a strange story to tell. In March 2007 I opened an HSBC Online Saver which had a interest rate very close to the top players in the market. A few glitches at first in getting access to the website but once things were running smoothly for some reason I can't put my finger on, I found the site the most pleasurable one I have to use. Must be something subliminal. I withdrew all but one pound at the beginning of April as it was clear that the interest rate was becoming much lower than the top players with BoE reducing rates and HSBC following. Might well go for an HSBC ISA. I hasten to add that I have absolutely no connection with HSBC.

Froglet

Just checked and it is already showing on their website.I too find it the best site for ease of use.
However.........
Both my husband and myself moved our Isas away from the HSBC years ago as their rates were so poor so not sure if i trust them to stay competitive this time round.

1echidna

I got to the apply section for this ISA and found it was necssary to have an HSBC current account to open the ISA. Pity.

LucyTheDwarf

I opened this account at the beginning of April, when the rate was 6%. It then dropped to 5.75% on the 9th May. I have today noticed that it says 6.25% on the website, but I haven't had a message from HSBC yet to confirm that I am now getting that rate... I love their online facility, by the way, it is the easiest to use of all my online accounts... back to the point, I'm still waiting to see whether my e-ISA rate has increased.

One thing that worries me, is that in my account list the name of the account is e-ISA, whereas on all the promotional banners about the 6.25% rate, the account is called Cash e-ISA. Does anyone know if it is the same account?

ldavies_3

the rate change for Isa is 6.25 from today... not bad considering current climate... and yes I do work for HSBC! lol

Aegis

LucyTheDwarf wrote: »

I opened this account at the beginning of April, when the rate was 6%. It then dropped to 5.75% on the 9th May. I have today noticed that it says 6.25% on the website, but I haven't had a message from HSBC yet to confirm that I am now getting that rate... I love their online facility, by the way, it is the easiest to use of all my online accounts... back to the point, I'm still waiting to see whether my e-ISA rate has increased.

One thing that worries me, is that in my account list the name of the account is e-ISA, whereas on all the promotional banners about the 6.25% rate, the account is called Cash e-ISA. Does anyone know if it is the same account?

To the best of my knowledge the rate increase will be applied to existing e-ISAs as well as to new money.

Baldur

LucyTheDwarf wrote: »

One thing that worries me, is that in my account list the name of the account is e-ISA, whereas on all the promotional banners about the 6.25% rate, the account is called Cash e-ISA. Does anyone know if it is the same account?

If you look here, you will find the current e-ISA rate information:

Cash e-ISA - effective date 23/05/08 Gross 6.08% AER 6.25%

planemad

Do they accept transfers in from other providers? as i cannot see anything about this on their website.

Milarky

planemad wrote: »

Do they accept transfers in from other providers? as i cannot see anything about this on their website.

No they don't. See here

ShelfStacker_3

This is great news Was a bit disconcerted by the recent rate drop to 5.75%, but that's been more than made up for