Anyone who has a HSBC online savings account, do you know what extract deposit interest rate is for this acc?

Question

I had this account a few years ago, but never noticed about the interest they paid me monthly. After a brief view of my previous bank statement, it tells that the current interest rate for my account is 10%, but after multiply it by the $ balance there are some $ in short, should I have used a wrong calculation method? How do we know if the bank has paid us the correct interest amount every month?

Answer 1

i have an hsbc online account, no possible way your rate is 10%.  when i opened it about july of last year it was 5%, then went to 3.75% in about january, now its something like 2.50%.  if you go to 'account details' you will see each interest payment, but to get the rate you have to call them.  obviously this depends on the type of account you have... just call them to get details, they most likely arent wrong, but everyone makes mistakes...

Answer 2

nope, no U.S. bank pays 10% interest(that's insane). depending on your saving account it should be between 1%-3.5%(or lower).