HSBC Direct Launches New Online Payment Account
HSBC Bank USA has announced HSBC Direct’s Online Payment Account, a new Online Payment Account product that offers instant fund transfers to and from the HSBC Direct Online Savings Account (OSA) and pays a current yield of 2.50% APY. According to HSBC, "this account allows customers to leave funds in the high-yield OSA longer, and fluidly manage their money so that they can maximize the value of every dollar, every day. Customers can also earn interest on money in the Online Payment Account used for everyday expenses, and then promptly move anything they do not spend back into high-yield savings, getting the most earning power from both."
The HSBC Direct Online Payment Account gives customers access to their cash at any HSBC ATM, and at more than 395,000 non-HSBC ATMs nationwide. If a third party charges a customer to use their ATM in the U.S., HSBC will rebate up to three of these fees based on transaction date order during the calendar month.
In addition to all bill pay capabilities and full access, the HSBC Direct Online Payment Account allows customers to link to an unlimited number of outside accounts and conduct an unlimited number of transactions. While the HSBC Direct Online Payment Account complements the HSBC Direct OSA, customers are not required to have an OSA in order to take advantage of the Online Payment Account. The HSBC Direct Online Payment Account is available to both new and existing customers.
“Over the past year, the number one request we received from our customers was to institute a high-yield online payment account reinforced by the high quality of service associated with HSBC Direct. By addressing our customers’ needs, we have developed an offering which allows them to instantly transfer funds between their HSBC Direct accounts, while continuing to earn a competitive rate, and automatically access cash for monthly bills and expenses,” said Kevin Newman, senior executive vice president, personal financial services for HSBC in the U.S. “Used alone or in conjunction with the HSBC Direct Online Savings Account, the HSBC Direct Online Payment Account is a key tool to maximize earnings across all bank balances and manage cash so that there is never a day or dollar where their money does not have the opportunity to grow.”
“As we expand HSBC Direct, we are continuing to enhance our product offering with saver-oriented features based on our understanding of customer behavior and needs,” continued Newman. “The HSBC Direct Online Payment Account, as a complement to the HSBC Direct OSA, is a true example of a savings-powered proposition that was developed as a direct result of listening to our customers. This product will allow our customers to earn interest on their every dollar every day. Additionally, we will continue to offer our award-winning customer service initiatives with the HSBC Direct Online Payment Account.”
To learn more about HSBC Direct Online Payment Account, visit www.hsbcdirect.com.
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