Is it Really Worth it to Move That Money? Interest Rate Chaser Calculator

If you are considering moving funds from one account to another for an increased interest rate I found a tool that might be of interest. It lets you play around entering your current return, new return and the amount of time your funds will be unavailable. The calculator then spits out the total time you need to hold the investment to break even. I actually found this while doing some research for myself after being frustrated with the REALLY slow transfers in and out of HSBCDirect. It's a good bank, but the bank must be making an absolute killing off the float from keeping your transfer "pending." Their policies might be enough to make me send my money back to ING or E*TRADE who are significantly faster. Based on my calculations it is 1) worthless to move more money into HSBC to chase their 6.00% new teaser rate and 2) takes nearly two months to make it worth your while to move say money from ING's 4.5% APY to HSBC or ETRADE's 5.05%.

Anyways, check it out. The calculator might be handy if you are say considering moving from one online bank to another or some other for of investment.

Link:

Interest Chaser Calculator