I’ve been looking into placing money in an e-bank account because they offer incredibly high interest rates. For examples, at HSBC , savings account return 5.05%.
Not even Certificate of Deposits get close to this, let alone typical savings accounts. It is insured and looks legit. And I know the “no overhead” angle. But there’s a “too good to be true” aspect to it all.
Anyone have any experiences with this bank or other e-bank? Is it really as easy, pain-free, and lucrative as it appears?