With the current economy and banks failing all over the place, you have to be careful where you put your money. Yes, the FDIC insures up to 100K, but if the bank you have your money in fails, it will be a hassle and take some time before you get your money back.

Also, be careful on what type of account you put your money in. Some types of accounts are not FDIC insured, like mutual funds and life insurance policies.

This is certainly not the best deal for such accounts by far.
I guess HSBC offers such low rate because they are the biggest bank in the world right now? (Not sure if it is still true after all those bank mergers in the US, but those mergers do not create safer banks, just more retail branches).

Hide it inside a wall.

http://www.msnbc.msn.com/id/27608773/

Justanod (comment #1) is correct, coverage should actually be $250k through 12/31/09. And you can actually get quite a bit more than that by opening different ownership-types of accounts. That is, you're covered up to $250k for your individual accounts, up to $250k for your share of any joint accounts, up to $250k on certain retirement accounts, and potentially up to $250k for each qualifying owner/beneficiary relationship on a trust account.

Comment #21 is not entirely correct; in most cases, the FDIC will get you your insured funds within 2 business days of your bank failing. And depending on how much they're able to sell the failed bank for, you may be able to recover some of your uninsured funds as well.

This is good. Now, if I only had some money..

you dont have to check them out . its hsbc!

To all those of you thinking banks are a good way of investing your money, think beyond the box. The dollar's purchase value has come down by a factor of 10 over the past 20 years. (this has happened pretty much with every currency, not just the dollar by the way) .What cost $5 now costs $50 and there's no denying to it. Factoring future inflation, it is expected to fall further by another 10 in not more than 10 years.
Land is the best option now, considering the low prices you can find them for. Do you really think land prices can go worse than what they are now? Make your money sit in a bank at 3%, five years later you will find that it's purchase value has actually declined.
Another option is gold, buy some and leave it in a bank locker or safer, under your floorboard, seal it tight and tell no one about it, not even your partner.

Never had an HSBC credit card. Will apply and give it a try. 3% is pretty good comparing to the American Express True Earning Card

Good thread. Thanks for info all. bankrate.com is also useful, but the changes to their site has made it less friendly.

ING bank is excellent for online banking. Been with them for over 4 yrs now.