HSBC Online Bonus Saver Account, Bank Account, Savings Account.

Jan. 15, 2010 - PRLog -- HSBC Online Bonus Savers Account is a high interest account that you manage online. Consumers will earn a variable rate of 0.75% AER (0.75% gross including bonus interest), when they don't make a withdrawal. If you do need to make a withdrawal, you won't get bonus interest, but you'll still get 0.25% AER (0.25% gross).

The essentials

Variable rate of 0.75% AER (0.75% gross including bonus interest), when you don't make a withdrawal. If you do need to withdraw, you won't get bonus interest, but you'll still get 0.25% AER (0.25% gross).

You can open an Online Bonus Saver savings account with just £1 (one account permitted per customer).

Interest is calculated daily and paid monthly, on the full balance. Read more about our interest rates.

Interest payable on balances from £1 to £50,000. For balances that exceed £50,000 we will pay a lower rate of interest.

Accounts are managed online only. You can view your statements online.

You can transfer funds to another HSBC account or to an account held elsewhere, using Internet Banking.

Definitions
AER (Annual Equivalent Rate): This is a notional interest rate which illustrates what the gross rate would be if interest were paid and compounded each year.
Gross: The interest rate before the deduction of tax applicable to interest on savings accounts.

Frequently asked questions

How do I manage my account?
You can only manage your account online via Personal Internet Banking (not via the branch or telephone)
 
How can I view my transactions and balance?
You can only view statements online
 
Will I earn interest if I make a withdrawal?
Yes, the standard rate of interest will be applied to the account. No bonus interest is paid on the whole balance for the entirecalendar month that the withdrawal is made in. For example, if you withdraw some money on the 15th, all bonus interest accrued for the period 1st-14th is deleted and no bonus interest will be earned on balances held in the account from 15th - 31st. Bonus interest will start to accrue again on 1st of the following month, unless you make a withdrawal on that calendar month.
 
I have received no bonus interest on my Online Bonus Saver because I made a withdrawal. I didn't know that bonus interest was not paid when I made a withdrawal - can I have my interest back?
The Online Bonus Saver was designed to reward 'Savers' not 'Spenders'. The account pays interest plus bonus interest for each month you do not make a withdrawal. In a month where a withdrawal is made then no bonus interest is paid for that month only. The rules regarding withdrawals are made very clear online, on the application, in literature and in Terms and Conditions.
 
Can I open a joint account?
No, you can only open sole accounts. This is for your own security and protection. The account is opened and operated via our Personal Internet Banking (PIB) service, which authenticates you when you sign in with your security details; we are unable to authenticate multiple account holders in this way.
 
Can I cancel my account?
For a period of 14 days after the account is opened you have the right to cancel the contract and close the account without charge. After 14 days we will pay you standard interest (excluding bonus) up to the day the account closes.
 
If I have an Online Saver account already can I have an Online Bonus Saver?
Yes you can as the Online Bonus Saver is a different product.
 
How can I close my Online Saver and open an Online Bonus Saver?
You can close your Online Saver by using our Secure e-messaging service on Personal Internet Banking and open an Online Bonus Saver by selecting 'apply now' from the Online Bonus Saver product page. Be careful, though: once you have closed your Online Saver you cannot re-open it.
 
Do I incur interest penalties if I move funds from my Online Saver to my Online Bonus Saver?
Yes, there would be no interest paid on your remaining funds in your Online Saver for the month of the withdrawal.
 
What happens if the balance on my Online Bonus saver exceeds £50,000?
A lower rate of interest is paid on balances above £50,000. Interest on the first £50,000 will still attract the higher rate.




Click here for more: http://www.britishlisting.com/money-finance.html

# # #

British and US e-shopping directory. No 1 Safe and Secure shopping directory http://www.britishlisting.com . Visit britishlisting.com- to buy new and used books, cars, computers, digital cameras, DIY, DVD, jewellery and music. Buy it, Love it.