How to apply for a HSBC online Certificate of Deposit

Creating an online CD is just like a regular CD except that it is a rate exclusive to internet users. Recently HSBC's online CD rates have been pretty good compared to the national average. Here's how to get your HSBC online CD

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Internet
• Computer
• 1000 dollars for minimum deposit
• period of time (in this example: 6 months)

1. 
   open your browser

   Turn on your computer and open your Internet Browser. This is your preference. My preference is Mozilla Firefox. Once you've opened your browser, go to the address bar and type:
   www.hsbcdirect.com
   
   and press "Enter".

2. 
   learn more

   On this page, you will see the CD options on the front page. Click "Learn more". This will bring you to the next page which describes the rates of several of its CDs based on term length.
   For my example, I will be applying for the 6 month CD. This is because CD rates are constantly changing. If I put money into this CD for too long, what is to say that the rates won't drastically change.
   For this reason, 6 months sounds like a fairly reasonable amount of time.

3. 
   time to apply

   Click "apply now" on this page. It will lead you to the next page.
   
   Note: Process for application takes less than 10 minutes. If you are an existing customer that's even better. If you are already a customer, it will take you less than 2 minutes.

4. 

   Since I am an existing customer, just enter your login information. This is quick, and will bring you to this page (look at picture).
   Pick your terms. I chose the radio button of your choice, and apply.

5. 
   page protected by copyscape

   This next page should be "Online Account Application". Read the Online Disclosure. Read the Electronic Delivery Disclosure. Read the Terms and Charges. You may print a copy of these documents (for safe keeping) in case of possible discrepancies in the future.
   
   The page will continue to your personal information as well as the accounts you have with their bank. Choose the appropriate account you want to extract money from (the account must have at least $1000).
   When done, click "Next Step>". Click "Next Step>" on the next page.

6. 

   You have reached the eSignature page.
   
   Read this page CAREFULLY. It consists of 2 parts: eSignature and Certification. After fully understanding the page, Press the "I agree>" button to continue.

7. Congratulations you are done! Print this page, or save it as a pdf. You will want to have a copy for yourself.
   
   Note: Your new account may take up to 2 business days to show up in your account summary. You will begin to receive interest beginning on the first business day after the account was opened.

Tips & Warnings

• Make sure you don't go below minimum on any of your accounts because fees can be hefty and are always subject to change.
• Use pdfredirect to save all these important docs on your computer to save paper.
• Fees from banks are almost a given. And disputing them can be a pain.
• Try not to put yourself at any risk of bank fees. (it is possible)
• Do not take the money out ahead of time. If you can't lock up that amount into a CD then don't, there are other ways to invest.

Resources

• HSBC DIRECT
• Creating a CD ladder
• If you're also interested in HSBC online savings
• Save important doc without printing using PDF
• PattiWinters - How to Open a Certificate of Deposit With High Interest
• More Articles by WesleyJ

[jayschiffer]

on 4/1/2009 BEWARE HSBC ONLINE CD's!!!!!!!Hsbc has an online form that you use to sign up for a choice of CD's. You check off the length and the rate as part of the form. The funds I used were from an existing online account through them. Just to make sure the rate was secure even though the form listed it I call twice with various questions and was assured that the rate was what I checked off on the form. The next day I checked and they had given me a lower rate and could really care less. Two weaks later and three long phone conversation with a few people half way around the world and still no call back. What a joke and very decieving. My account is pretty darn big too. Cant believe it!!!!!!! Dont get involve. Even my online savings had some issues.

[jayschiffer]

on 4/1/2009 Hsbc has an online form that you use to sign up for a choice of CD's. You check off the length and the rate as part of the form. The funds I used were from an existing online account through them. Just to make sure the rate was secure even though the form listed it I call twice with various questions and was assured that the rate was what I checked off on the form. The next day I checked and they had given me a lower rate and could really care less. Two weaks later and three long phone conversation with a few people half way around the world and still no call back. What a joke and very decieving. My account is pretty darn big too. Cant believe it!!!!!!! Dont get involve. Even my online savings had some issues.

[cherry67]

on 11/5/2008 Good information-thanks

[listenhere101]

on 10/26/2008 good info. thanks for the tips. 5 stars

[JulieMayfield]

on 10/25/2008 Great directions and good info!