If you are an HSBC account holder, this title probably makes you groan. It’s an email notification with a specific title for a specific purpose: to tell you your account sucks more now.
I’ve been with HSBC since 2007. It was really good when I started. Then it just started sucking more and more. At this point, it’s just a minimal account for me, one I use to fund automatic IRA investments. Capital One is the best game going right now.
Anyway, I was browsing through old emails and collected these all together in a pathetic display of suckery. Enjoy.
3/25/08: Following a further review of all of these factors, we have reduced our Online Savings Account rate by 0.50% to 3.05% APY effective 3/20/2008. … The good news is, you’re still getting a competitive rate — 7x the national savings average.
6/2/08: Your Online Savings Account rate has increased to 3.50% APY, effective June 2, 2008. That’s up from 3.05% APY. And it’s 9x the national savings average.
9/8/08: As of September 16, 2008, you will earn 3.25% APY, which is 8x the national statement savings average…
10/21/08: The rate will be adjusted to 3.00% APY effective October 21, 2008. This rate remains one of the highest available and is 7x the national average.
1/5/09: Recognizing this change and the overall interest rate environment, the new rate on your Online Savings Account is 2.60% APY, effective January 5, 2009. … a rate that is more than 6x the national statement savings average.
1/29/09: As of January 26, your rate has been adjusted to 2.45% APY. … your Online Savings Account currently earns you five times the national statement savings average.
3/9/09: With a revised rate of 1.85% APY* as of March 6, 2009, your APY is still 4x the national statement savings average.
4/3/09: Your Online Savings Account rate has been adjusted to 1.65% APY* as of March 30, 2009.
5/29/09: We wanted to let you know that as of May 15, 2009, the Online Savings Account rate was adjusted to 1.55% APY*. This rate is still five times the national statement savings average.
8/19/09: We wanted to let you know that your Online Savings Account rate was adjusted to 1.45% APY* as of 8/12/2009. The HSBC Direct Online Savings Account remains a competitive option in the marketplace, with a rate 4x the national statement savings average.
9/26/09: We wanted to let you know that your Online Savings Account rate was adjusted to 1.35% APY* as of 9/23/2009.
2/9/10: We wanted to let you know that your Online Savings Account rate was adjusted to 1.20% APY* as of February 8, 2010. … a rate that is more than 5x the National Statement Savings Average.
3/1/10: We wanted to let you know that your Online Savings Account rate was adjusted to 1.10% APY* as of February 26, 2010. … a rate that is more than 4x the National Statement Savings Average.
11/30/10: We wanted to let you know that your Online Savings Account rate was adjusted to 1.00% APY* as of November 30, 2010. … a rate that is more than 5x the National Statement Savings Average.
1/11/11: We wanted to let you know that your Online Savings Account rate was adjusted to 0.90% APY* as of January 11, 2011. … a rate that is more than 5x the National Statement Savings Average.
5/5/11: We wanted to let you know that your Online Savings Account rate was adjusted to 0.80% APY1 as of May 5, 2011. … a rate that is more than 5x the National Statement Savings Average.
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