Comments on: HSBC Drops APY, FNBO Direct and WaMu Hold Steady http://www.fivecentnickel.com/2008/09/16/hsbc-direct-drops-to-325-apy-fnbo-direct-and-wamu-hold-steady/ personal finance tips, tricks, and commentary Sat, 21 Nov 2009 22:51:28 -0500 http://wordpress.org/?v=abc hourly 1 By: Marion http://www.fivecentnickel.com/2008/09/16/hsbc-direct-drops-to-325-apy-fnbo-direct-and-wamu-hold-steady/comment-page-1/#comment-124552 Marion Thu, 18 Sep 2008 22:36:49 +0000 http://www.fivecentnickel.com/2008/09/16/hsbc-drops-to-325-apy-fnbo-and-wamu-hold-steady/#comment-124552 I'm curious about something. Now it's Thursday, there's talk of a WaMu purchase or merger. If I signed up for a one-year CD from WaMu, and another bank goes ahead and then buys or merges with WaMu, does this new entity have to honor the WaMu CD? Or can they say, "we're terminating this because we don't want to pay 5% interest so here's your deposit and whatever interested you earned to date, have a nice day?" I’m curious about something. Now it’s Thursday, there’s talk of a WaMu purchase or merger.

If I signed up for a one-year CD from WaMu, and another bank goes ahead and then buys or merges with WaMu, does this new entity have to honor the WaMu CD?

Or can they say, “we’re terminating this because we don’t want to pay 5% interest so here’s your deposit and whatever interested you earned to date, have a nice day?”

]]> By: Andy http://www.fivecentnickel.com/2008/09/16/hsbc-direct-drops-to-325-apy-fnbo-direct-and-wamu-hold-steady/comment-page-1/#comment-124489 Andy Tue, 16 Sep 2008 19:56:29 +0000 http://www.fivecentnickel.com/2008/09/16/hsbc-drops-to-325-apy-fnbo-and-wamu-hold-steady/#comment-124489 With the drop in HSBC’s APY, I think the service and ease of use factors now make ING Direct the better choice for most prospective customers. Don't know if FNBO is better than ING in the longer term...time will tell. On a seperate note credit tightening and potential Fed interest rate cuts will pressure savings account APY's for the rest of the year. This means I would be wary of companies like WaMu offer higher than average market rates. With the drop in HSBC’s APY, I think the service and ease of use factors now make ING Direct the better choice for most prospective customers. Don’t know if FNBO is better than ING in the longer term…time will tell.

On a seperate note credit tightening and potential Fed interest rate cuts will pressure savings account APY’s for the rest of the year. This means I would be wary of companies like WaMu offer higher than average market rates.

]]> By: Adam http://www.fivecentnickel.com/2008/09/16/hsbc-direct-drops-to-325-apy-fnbo-direct-and-wamu-hold-steady/comment-page-1/#comment-124486 Adam Tue, 16 Sep 2008 19:21:00 +0000 http://www.fivecentnickel.com/2008/09/16/hsbc-drops-to-325-apy-fnbo-and-wamu-hold-steady/#comment-124486 dollarsavingsdirect.com (part of emigrant direct) is offering 3.75% also dollarsavingsdirect.com (part of emigrant direct) is offering 3.75% also

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