HSBC Direct is an online-only bank that offers slightly better rates than ING Direct. In fact, their rates are possibly the best (and ING the 2nd best).
The downside to HSBC, is that their web interface and operations of business are antiquated. While I have an online checking and savings account with them, I really only use the savings account. I just can't bring myself to deal with them because the user experience of ING Direct is so much better. For example, if you want to transfer money from checking to savings (or vice-versa), with ING it's instantaneous; but with HSBC you have to wait a business day! Ridiculous, I say.
HSBC is great if you're traveling/living in east Asia. I traveled through nine countries in Southeast Asia last year and never paid an ATM fee. Their ATMs are all over, and they're also partnered with many other Asian banks.
If you live in the USA (like me) I'd say keep your 6-to-12-month cash reserve in HSBC. And do your day-to-day banking and short-term savings with ING Direct.
The downside to HSBC, is that their web interface and operations of business are antiquated. While I have an online checking and savings account with them, I really only use the savings account. I just can't bring myself to deal with them because the user experience of ING Direct is so much better. For example, if you want to transfer money from checking to savings (or vice-versa), with ING it's instantaneous; but with HSBC you have to wait a business day! Ridiculous, I say.
HSBC is great if you're traveling/living in east Asia. I traveled through nine countries in Southeast Asia last year and never paid an ATM fee. Their ATMs are all over, and they're also partnered with many other Asian banks.
If you live in the USA (like me) I'd say keep your 6-to-12-month cash reserve in HSBC. And do your day-to-day banking and short-term savings with ING Direct.