e-depost and t-deposit

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
20/10/2008 16:28

Could someone please explain difference between t-deposit and e-deposit accounts in HSBC. Cant see any difference on site apart from e-deposit paying more, but assume thats for a reason.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
20/10/2008 16:50

e-deposit is set up on the internet and t-deposit is set up on the telephone. No idea why this means the rates are different.

come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
20/10/2008 18:26

Hi Girne29



E deposit can only be set up online, T(ime) Deposit can be set up in the bank, by telephone or online, it seems. I was always under the impression that E deposit accounts paid more interest but I have noticed, in the last couple of weeks, that the T deposit account is paying 0.25% more on accounts over 30 days. The T account pays 17.95% for 30-59 day accounts but the E account pays 17.70%. I don't know if this is a mistake but when my E deposit account next matures I will be changing it to a time deposit if the situation is the same. Might as well be in my pocket.

come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
20/10/2008 18:29

Don't forget to look at the TRNC interest rates - just looked and see that if you look at local rates (mainland Turkey) they show E deposit as getting higher interest than T deposit. It sucks that TRNC E deposit accounts get 1.05% less than ones in Turkey.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
20/10/2008 18:47

Thanks for that , Was going to transfer as I thought there was 2% difference between my t dep and the e-dep.,but I was comparing my last months t dep with this months e-dep.



Now I see that t is 17.25 turkey ,17.25 trnc and e is 18.75 turkey .17.70 trnc. Not worth the move but your info handy as now know both are similar ,for any future moves. Iam sure last time that for t dep there was a difference between turkey and trnc now, this month none!

come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
20/10/2008 20:37

Yes, I sometimes wonder how accurate the published rates are. I'm going to log in next time my account matures to check what the new interest should be as everytime I look, usually a few days after maturity date, the interest rate advertised appears to be higher than my account is getting!