To all Quicken users with Online Savings accounts with HSBC:
I, like many other Quicken users, opened an account with HSBC to take advantage of the 4.8% APY.
Having Direct Download into Quicken was a definite plus.
Just keep in mind that the $100,000 "daily" limit for transfers out is misleading.
A manager at HSBC, who shall remain nameless, claims that the legal department is working to revise the "daily" wording.
I transferred $100,000 out on Friday the 10th, then scheduled another $25,000 for Monday the 13th.
That chunk was deducted from my account on Friday the 10th, and was gone over the weekend.
The $25,000 re-appeared in my account this morning, and I received an e-mail that I had exceeded transfer limits.
Apparently, HSBC will only allow $100,000 out every 4 business days.
The website will process the transfer, and debit the account immediately, but it will be reversed the next business day.
I can still schedule the $25,000 transfer for tomorrow, but it will be bounced again according to the manager, and I would lose another day of interest.
I know, I know, Poor Boo (ala Betsy's Page 1/27/06) ;-)
Bob