HSBC Online Savings Account

After Fed's reduced the Federal Funds rate from 5.25% to 4.75%, I was expecting Online Savings Account interest rate to drop down and finally after a week, I got email today from HSBC Online Savings Account Interest Rate from 5.05% to 4.50%.

So, I looked up at other Online Savings Account Rates

HSBC Online Savings Bank Account : 4.50% APY
ING Direct : 4.30% APY
Emigrant Direct: 5.05%

I will update other Savings Account Interest Rates, as they make changes to the Interest Rate in coming weeks.

But, HSBC haven't changed the Online Payment Account APY and it still remains at 2.50%