ING, Emigrant, HSBC & the rate cut

Discussion in 'Budget Board' started by rflorek, Jan 23, 2008.

  1. rflorek

    rflorek DIS Veteran

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    Well, ING has lowered their rate to 3.65% after yesterday's rate cut. HSBC has only lowered their account to 4.25%. EmigrantDIrect still shows their rate as 4.55%, but it is shown as effective 1/10/2008, so I don't think they have adjusted for the rate cut yet.
     
  2. ameraumi

    ameraumi DIS Veteran

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    Oh well, it is still better than the 1% I get at my bank and credit union.
     
  3. LorieR

    LorieR DIS Veteran

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    I believe HSBC was at 4.25% previously so I am sure that will be adjusted down also :sad1:
    ETA: If you check bankrate.com,Emigrant's rate of 4.55% is listed as of yesterday, 1/22. Maybe we can hope by some strange chance they don't lower it!
     
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  5. Green Tea

    Green Tea <font color=green>I don't do hatchets<br><font col

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    I am kicking myself for not buying an ING CD last summer.
     
  6. LorieR

    LorieR DIS Veteran

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    I took money out of HSBC in December and got in on a 1-year CD at Apple Bank online at 5.26% apy. I now wish I had put double the amount in!!
     
  7. Irin997

    Irin997 DIS Veteran

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    Emigrant Direct doesn't lower their rates until the 1st of the month following the rate cut. So the rate will change effective Feb 1st. This is how they've proceeded with the two previous rate cuts.
     
  8. starwood

    starwood This mouse GOT her next cruise

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    Oh well - I was expecting this. I have over $50,000 in the checking so at least that is getting 4%.
     
  9. rflorek

    rflorek DIS Veteran

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    If you check right on the HSBC home page, the footnote for the 4.25% rate states as of 1/23/08.
     
  10. ldb1030

    ldb1030 DIS Veteran

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    Damn! I was just making a mental note to check my ING tonight when I get home from work when I saw your post! :sad2:
     
  11. ldb1030

    ldb1030 DIS Veteran

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    True! I have exaclty the same thing........bank and CU at 1%:rolleyes: ..........along with my ING.
     
  12. LorieR

    LorieR DIS Veteran

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    (In response to my earlier: "I believe HSBC was at 4.25% previously so I am sure that will be adjusted down also.")

    Not to beat a dead horse, but my statement for 1/4/08 states annual percentage yield earned 04.36%, which translates, I believe, to a 4.25% rate. So I guess we will just have to wait and see if/when they lower it. :)
     
  13. autumnbaby9

    autumnbaby9 DIS Veteran

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    The HSBC 4.25% was from the last rate cut. It has been that way for at least a month or two. Who knows what they are going to do with it now.
     

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