3.50% High Rate Offer to Help People Save More –

NEW YORK–(EMWNews)–HSBC Bank USA, N.A., the U.S. banking unit of one of the world’s

largest financial services companies, today announced the results of an

HSBC Direct Consumer Survey which revealed that, despite consumer

confidence at an all time low¹, Americans

continue to treat themselves and others, with over half having “splurged”

within the last month. However, 82% of respondents are aiming to save,

and also recognize the control involved in saving – as one in five

claimed that saving requires more discipline than quitting smoking.

Respondents indicated emotions are strongly tied to spending decisions,

with nearly half citing “it just feels good”

as a reason for splurging.

“These findings show us how emotional some

personal finance decisions can be,” said

Kevin Martin, HSBC Executive Vice President and Head of Customer

Marketing. “It’s

clear from the survey that Americans have good intentions to save more,

but at the end of the day, many are still treating themselves and

others, and what’s important is achieving a

balance and learning your personal way to save without sacrificing.”

Findings show U.S. consumers are still splurging and that emotion is a

strong driver. For example:

• 42% have splurged on themselves within last month (21% within last

  week)

• 51% have splurged on someone else within last month (26% within last

  week)

• Top guilty pleasures included a weekend away (14%) and a trip to the

  movies (12%)

• 47% splurge because it “just feels good”

• 28% because “I deserve it”

• 19% because “relieves stress”

• Only 5% splurge under the justification that they “can

  just pay for it later”

Americans view savings as requiring discipline, but still have

substantial intentions to save.

• One in five (19%) said saving regularly²

  requires more discipline than quitting smoking, losing fifteen pounds,

  or working out four times a week

• 71% have a funded savings account

• 41% claim to be trying to save more this summer than last, with 30%

  trying to increase savings by at least 10%

• Another 41% are trying to save at least the same

“We recognize there is a considerable amount

of discipline required to save consistently,”

Martin added. “However, savings is a critical

part of any long term financial plan, and there are many easy ways for

Americans to get into the savings habit. HSBC Direct, for example, helps

make saving as convenient as possible, with a yield at 3.50% that is

nine times the national savings average³. We

are happy to announce that in order to continue to reward savers, we

have extended this offer until September 15th.”

HSBC Direct increased the rate on their Online Savings Account to 3.50%

APY⁴ earlier this summer. The original offering

was scheduled to run through August 15^th but

has now been extended through September 15^th.

The HSBC Direct Online Savings Account features no minimums and no

monthly fees, FDIC insurance⁵, recurring

transfers, 24/7 online access, unlimited account connectivity, ATM

access, and award-winning 24/7 customer service. For more information

about HSBC Direct please visit www.hsbcdirect.com;

for general savings information, as well as saving tools and calculators

please visit YourMoneyCounts.com.

Methodology:

The HSBC Direct Consumer Survey was conducted online in June 2008 among

a nationally representative sample of over 1,000 U.S. households. Please

note sample size varies per question, as not every respondent was asked

each question.

About HSBC Bank USA, N.A.

HSBC Bank USA, N.A. has more than 450 bank branches throughout the

United States, with about 380 in New York state and a growing network of

branches in New York, Florida, California, D.C., Pennsylvania, New

Jersey, Delaware, Oregon, and Washington state. In addition, HSBC

National Bank USA, a sister bank to HSBC Bank, has 15 branches across

Maryland, Illinois, Connecticut and Virginia.

HSBC is the principal subsidiary of HSBC USA Inc., an indirectly-held,

wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC USA

Inc. is one of the nation’s 10 largest bank holding companies by assets.

HSBC Direct is HSBC Bank USA’s online-only

banking business that offers deposit accounts with highly competitive

interest rates and no monthly fees. For more information or to open an

HSBC Direct Online Savings Account, visit www.hsbcdirect.com.

¹ RBC Consumer Attitudes and Spending by

Households Index, compiled by RBC Capital Markets Corp. of New York;

data released July 3, 2008: new all-time low dropped from 22.5 in June

to 14.6 in July

² Answer choice worded: “Committing

to putting away 10% of your salary into savings each month”

³ National Statement Savings Average located at http://bankrate.com/brm/publ/passbk.asp?caret=2

in the Passbook/Statement Savings survey results as of 04/09/08 courtesy

of Bankrate.com. HSBC Direct Online Savings Account APY is 9 times the

national statement savings average APY. Interest Rate and APY are

variable and subject to change at any time.

⁴ Special Online Savings 3.50% Annual

Percentage Yield (APY) is accurate through 09/15/2008. Minimum balance

to open is $1.00. HSBC reserves the right to change or terminate this

promotion at any time. Any change or termination will not affect

existing customers who took advantage of the promotion. After promotion

period interest rate and APY are variable and subject to change.

⁵ HSBC Direct Online Savings Account offered by

HSBC Bank USA, N.A., Member FDIC. Deposits are insured to the maximum

permitted by law.

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