HSBC Bank Canada has launched two new high rate savings accounts aimed at Canadians looking to earn more on their British pound and euro cash holdings.
HSBC's new British pound and euro denominated high rate savings accounts will supplement the bank's existing Canadian and US dollar high rate accounts.
HSBC Bank Canada customers who deposit new funds into any of the four high rate savings accounts before September 30, 2008, will receive a half percentage-point interest rate bonus on their new deposits.
Tracy Redies, executive vice president of personal financial services and wealth management at HSBC Bank Canada, said: "Canada is a very diverse nation with cultural, business and investment links across the globe. The demand for high interest rate accounts in currencies beyond the traditional Canadian and US dollar accounts reflects the evolving financial needs of our customers.
"Many of our clients acquire their euros or pounds while traveling or doing business in Europe while others receive pensions from Europe or Britain in these currencies. Having access to these new savings accounts will help them manage their funds safely and efficiently while at the same time earning a higher return than with traditional savings accounts."