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Dear alemerson,
Thank you for saving your money with HSBC. We wanted to let you know that your Online Savings Account Annual Percentage Yield (APY) was lowered to 0.50% APY1 as of June 14, 2012.
Your Online Savings Account remains an attractive option. Rate changes like this are very thoughtfully considered and are made in response to market conditions and prevailing interest rates. Regardless of the environment, HSBC will continue to let you know about rate changes to your Online Savings Account.
To learn how HSBC can help you continue to make smart decisions about managing your finances, visit us.hsbc.com or your nearest branch.
Thank you again for being an HSBC Advance client.
Sincerely,
Andrew Ireland Executive Vice President Head of Premier & Advance Banking HSBC Bank USA, N.A.
Sorry so im a little stupid and wanted to know the crucial difference between the online bonus savings account and the flexible savings account. I can't quite wrap my head around the interest rate being higher if you dont make a withdrawal that month but if you do, the interest rate for the month only decreases to what the standard interest rate for the flexible savings account is? Am I missing something? Doesn't that make the flexible savings account basically pointless?