Every month, you're earning interest on your original deposit plus any previously earned interest — or interest that has compounded. That compounded interest is the APY, or the interest rate paid on your principal plus the previous interest. Since you usually earn interest each month, you get a slightly higher return.

Annual percentage yield (APY) is the yield you earn on a deposit over the course of a year; it is a standardized way of comparing investments. The APY is important because it takes into account the assumed compounding of your interest. Compounding is simply a method of making earnings on your earnings. The APY shows you how much you're actually earning on your money. Other ways of quoting a rate don't necessarily show you the full picture. See similar questions...

HSBC Direct Online Savings is an online-only account with one of the country's highest APYs. Our online-only account has less overhead and less paperwork so you get one of the best rates around. And no monthly fees. No minimum balance. No risk. See similar questions...

HSBCdirect is an online-only savings account. By operating exclusively online, we have less overhead and paperwork, so we can pass on more savings to you with one of the best rates around. There are no monthly fees and no minimum balance. Of course, you can always open a traditional savings account, at any of our branches, at a lower interest rate. See similar questions...

Just multiply the amount that you’ve deposited by the APR and by the amount of time that the money is invested. You will accrue daily interest on your account, compounded monthly and credited to your available balance at the end of each monthly cycle. The APR is the non-compounded interest rate applied to account balances. See similar questions...

Yes. We are proud to be the only online savings account to offer an ATM card. Opening an HSBC Direct Online Savings account entitles you to an ATM card for easy access to your funds. See similar questions...

Use the HSBC Personal Internet Banking service to transfer funds from your HSBC Direct Online Savings Account to your bank account. Just log on to your account using your personal information and follow the simple instructions for transferring money. Call our Customer Relationship Center and transfer your money between your existing HSBC accounts using the Voice Response Unit (VRU) at 1-800-975-HSBC (4722). This fee is charged by the ATM network for use of a non-HSBC ATM. See similar questions...

While you can't wire funds directly from your HSBC Direct Online Savings Account, you can transfer money from your Online Savings account to another account (such as your checking account), and then do the wire transfer from there. See similar questions...

Opening an HSBCdirect Online Savings Account is fast, simple and convenient. Open your account online by clicking on HSBC Direct. You'll need the following information handy in order to complete the application: If you are a non-US Citizen - Your Green Card or Passport Number, Country of Issuance, and expiration date See similar questions...

Transfer money from your non-HSBC checking or savings accounts at another Bank via a Bank-to-Bank transfer To find out more about the deposit by mail feature, go to the deposit Account Summary screen and click on Learn More. You can make subsequent deposits or transfers into the Online Savings Account after 5 business days. This will ensure your initial deposit is fully credited and the account is prepared to accept additional funds. See similar questions...

Only individual consumers can open an HSBC Direct Online Savings Account. However, we do have outstanding business banking services available. See similar questions...

No. You won’t be able to make deposits or withdrawals at a branch because HSBC Direct Online Savings is an online-only account. However, if you have an HSBC savings or checking account, you can transfer your HSBC Direct Online Savings to that account and then withdraw the funds at a branch. You can also use an HSBC ATM for deposits and withdrawals – $500 per transaction and up to $1,000 per day. See similar questions...

Yes. The interest rate and APY may change at any time. You can call (302) 656-RATE for a listing of the most up-to-date interest rates and annual percentage yields. See similar questions...

The Annual Percentage Yield (APY) is the interest rate earned on your investments expressed as an annualized rate. You can calculate how much your investments will earn based on the APY with our Financial Calculators. See similar questions...

All rates quoted by Western United Life Assurance Company are effective annual yields based on daily compounding and not interest rate. If principal and interest are left untouched during the year an effective annual yield and an interest rate generate the same dollar amount of interest. For example, if $10,000 was invested at an effective annual yield of 6% compounded daily, or at 6% simple interest, at the end of the year $600 in interest would have been added to the principal invested. See similar questions...

Regulation DD clearly states that the A.P.Y. should be disclosed to two decimal places in all cases except for account disclosures, where more decimal places can be shown if desired. Refer to Section 230.3: General Disclosure Requirements, paragraph (f). The "Fed" has made it clear that it does not want more than two decimal places used except for account disclosures. See similar questions...

If you are enrolled in Direct Debit and you make an online payment with My Account, you will be automatically taken off of Direct Debit to prevent any duplicate payments. By setting up automatic online recurring payments through My Account, you’ll be able to have your monthly payment automatically deducted from your designated bank account, just like Direct Debit, but you’ll have greater control and convenience to choose the date and amount you wish to pay automatically each month. See similar questions...

Before you can place an order with Chemist Direct, you will be asked to create a customer account. You can alter the information you provide at any time by logging into my account. Please see our privacy policy for details of how we use the information that you provide to set up your Chemist Direct customer account. See similar questions...

HSBC's Annual General Meeting (“AGM”) is usually held towards the end of May each year. Follow this link to check if the date of the next AGM has been formally announced and added to our Investor calendar. See similar questions...

The annual percentage rate (APR) is an interest rate that is different from the note rate. It is commonly used to compare loan programs from different lenders. The Federal Truth in Lending law requires mortgage companies to disclose the APR when they advertise a rate. Typically the APR is found next to the rate. The APR does NOT affect your monthly payments. Your monthly payments are a function of the interest rate and the length of the loan. See similar questions...