6.00% APY from HSBCdirect

The HSBC Direct Online (HSBCdirect.com) announced that it would give 6.00% APY interest to new money deposited in any old or newly opened savings account until April 30th, 2007. Currently, this is the highest rate among all savings accounts in USA and it has no minimum deposit or fee requirements. It's even better than 3-month CD rates (highest level is near 5.5% APY) because you can withdraw your money anytime you want.

So if you have money that you need to invest for a short time, this is a good place to keep. Other banks like EmigrantDirect.com is offering 5.05% APY in savings accounts. Most money market funds (MMF) are offering similar yield rates.

Disclaimer: LiveInUSA has no connection whatsoever with the sites mentioned above. We give such information only because we think our readers may benefit from it.

Travel: Dollar Exchange

If you are going abroad in the forthcoming holidays, here are 6 tips for getting good exchange rates for dollar:

First for credit cards and checks:

1. Before you go abroad, check out what fees your credit-card company will charge you for international transactions.
2. For traveler's checks, try to exchange them at a branch of the bank that issued them.
3. Check the back of your ATM card or credit card for symbols of international ATM network companies like Cirrus and Plus. If those are on your card, then your cards will be accepted at their international ATM networks. You can get very good exchange rates --sometimes even the best rates -- simply using your credit card or debit card.

Then for actual Forex dealing to be done by you:

1. Foreign exchange dealers in USA tend to charge more than those in other countries. So, it is better to make most of your exchanges at your destination country.
2. Change only enough money for your immediate expenses (i.e. taxi fare, coffee and snack, tips, etc) either in USA or at your port of entry to the country you are visiting. Some of the worst exchange rates are usually found at airport and train-station booths.
3. The best rates are usually found at banks and post offices. For example, in France, you will get the best rate with almost no exchange fee at La Poste. The worst are hotels and the "tourist" exchange bureaus found on every street of Europe.