Emmigrant Direct and HSBC Direct

[HenDuck]

Hi all.

I have opened a savings account in both Emmigrant and HSBC Direct. I am planning on moving an old savings account to one or both of these new online accounts. My plan was to spilt the savings in half, then invest each half in one online account - one for my WDW trip (hopefully in 2010) and one for my next car (hopefully won't need that until 2013 or later).

I am wondering what are the pros and cons of each account. That will help me decide how to allocate the money.

Thanks in advance for your input!

 

[nowellsl]

I would put it all in the one with the highest interest rate - I don't know about Emmigrant but I finally closed HSBC because it takes so long to make a transfer and it irritated me every time I made one. I switched to GMAC Bank and it's A LOT faster!

 

[Fizzgig]

I would put it all in the one with the highest interest rate - I don't know about Emmigrant but I finally closed HSBC because it takes so long to make a transfer and it irritated me every time I made one. I switched to GMAC Bank and it's A LOT faster!

Thanks for the GMAC Bank reference. I have the same irritation, and HSBC's interest rate is sagging. HSBC -says- 3 business days for transfers, but mine have been taking at least 5.

I work for the bank the money is coming from. The transfer doesn't take that long, electronically.

Brandie

 

[nowellsl]

Thanks for the GMAC Bank reference. I have the same irritation, and HSBC's interest rate is sagging. HSBC -says- 3 business days for transfers, but mine have been taking at least 5.

I work for the bank the money is coming from. The transfer doesn't take that long, electronically.

Brandie

I've been happy with GMAC - it's at 4.5% right now. Luckily I put a lot of my savings into CD's right before they started lowering their rates!

 

[HenDuck]

Thanks for your input.

I signed up for both Emigrant and HSBC. So far, Emigrant has already sent me my two small deposits for verification but nothing has come from HSBC. If this is a sign of things to come, I think I'll stick with Emigrant.

I'll check out GMAC too.

I still welcome anyone else's input!

Thanks in advance!