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HSBC Joins the U.S. High-Rate Savings Account Race

By Jim Bruene on August 26, 2005 3:55 PM

Hsbc_us_highrateHSBC's U.S. unit launched a 3.50% APY savings account that competes directly with ING Direct (currently 3.30%) and other high-rate financial institutions. The rate is featured in an eye-catching red box smack dab in the middle of HSBC's homepage (click on inset for a close-up). 

For more information on high-rate savings products, select Checking & Deposit Accounts from the navigation in the right-column of this newsletter. Also, read our latest Online Banking Report devoted to the subject, Lessons from the High-Rate Marketers (OBR 120/121).

Update 9/1/05:
The rate was raised to 3.75% today vs. 3.30% at ING Direct

--JB

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