When does HSBC pay interest?
By Chad on Sep 9, 2007 in Banking
I opened up an HSBC Direct account last month and am surprised to still not see any interest earned on the account. I emailed their customer support to find out if something is wrong, but have not heard back yet.
Single Ma | Sep 9, 2007 | Reply
They pay interest based on the day you opened the account, not at the beginning of a new month like everyone else. So if you opened your acct on August 15th, your interest for the month will post on Sept 16th.
Chad | Sep 10, 2007 | Reply
Thanks Single Ma for the response. The 15th of August was exactly when the account was funded. I’ve been waiting to make sure HSBC was trustable before I move my savings from ING to HSBC.