“For New Money Only”: Banks Fight for Deposits, But if You Don’t Jump Through Hoops, You Get “Punishment Rates”
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter HSBC makes it official. The HSBC branch on Montgomery Street in San Francisco caught my attention this weekend with a poster. It showed a large red “2.01%” and the phrase, “Business Elite Savings Account.” An interest …