Adam Pieniazek

I just received an e-mail from the Executive Vice President of HSBC Direct informing me that HSBC is once again dropping the interest rate on my online savings account, this time from 3.55% to 3.05%! Aaargh! At least it’s only dropped by .5% but it’s still frustrating, especially considering the savings rate started at 5.05% and rose to 5.55% Of course, I knew this drop would happen sooner or later once the Federal Reserve dropped its interest rate from 3% to 2.25% but it’s still frustrating.

I’ve got nothing substantive to add, just wanted to vent.