HSBC and Multiple Buckets

June 2, 2007 7:18 PM

Is there an easy way to open multiple online savings accounts with HSBC Direct?

I love ING Direct's website, and one feature I particularly like is how easy they make it to have a bunch of savings accounts set up. I usually use them as short-to-medium term "buckets" that I can put in various amounts for different goals. For instance, I might have an account just for expected car repairs, and another for a piece of software I'm saving up to buy. Since I already have an account, opening a new account takes about 3 seconds and the new account gets fully integrated with the rest of my accounts. It's quite spiffy and solved a lot of the problems I've had with money management in the past. (not [easily] knowing how much I had set aside for what purpose)

Although my account was unaffected, I got spooked by ING's closing thousands of electric orange accounts and decided to try out some of the other offerings out there. So how can I replicate my ING setup with HSBC?

I went to their online savings signup page, but the options are "New Customer/Set Up Online Savings(or Online Payment)" and "Existing Customer/Online Payment." Their website seems like its set up to manage multiple accounts, so how can I set up additional online savings accounts without going through the whole application process again?

Their online payment account seems to be their answer to ING's Electric Orange account, and I'm only interested in savings accounts for now.

posted by icebourg to work & money (4 comments total)

Huh. There might be a way, but to answer your question: no, there does not seem to be an *easy* way. I'd go through the "Contact Us" procedure and ask before starting a whole new app.
posted by iguanapolitico at 7:27 PM on June 2, 2007

You can get an extra account at HSBC by setting up a joint account with someone else, if there is someone you trust.
posted by grouse at 8:24 AM on June 3, 2007

I am embarrassed to say that I added a second account at HSBC like 6 months ago, and I have already forgotten the exact process. Once it is added, they show up all under a single login, and you can give each account a nickname to identify what they are designated for.

I think I went through the official account signup process, but that at some step they ask "are you already an HSBC customer" and they ask fro your account number or username or something so they can link the accounts. And therefore you don't need to wait for them to mail you your account number and username and password all in a separate envelope, or whatever the stupid initial setup was.

on preview, grouse: I have two online savings accounts with no problem.
posted by misterbrandt at 11:34 AM on June 3, 2007

*I am embarrassed to say that I added a second account at HSBC like 6 months ago, and I am embarrassed to say that I have already forgotten the exact process.
posted by misterbrandt at 12:35 PM on June 3, 2007