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Is the Online Savings Account the same product as the Direct Savings Account?

April 26, 2017online Product savings account

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Is the Online Savings Account the same product as the Direct Savings Account?

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Yes it is. The Online Savings Account (OSA) has been renamed to the Direct Savings Account (DSA). For OSA account holders this is the same product but HSBC has now made transacting on this account free. What this means is that you can pay your bills online or make transfers between your HSBC accounts as well as accounts at other financial institutions all for free. There are no monthly fees, no maintenance fees, account fees or transfer fees for any transaction on the Direct Savings Account within Canada. HSBC also gives you access to Canada’s 2nd largest surcharge-free ABM network. That’s 4,100 ABMs you can access for free.