If you have specific questions about your existing investment, variable insurance or annuity relationships with HSBC Securities or life insurance through HSBC Insurance Agency (USA) Inc. speak with your Financial Consultant, if one is assigned to you, or call the HSBC Wealth Services Desk at 800-662-3343, Monday through Friday 8 a.m. 6 p.m. Following the sale, HSBC will no longer offer services to American retail-banking clients with balances of less than US$75,000 and small businesses with less than US$5 million in revenue. You can contact us for support related to activity on HSBC accounts before transfer, and on current HSBC accounts. Please stop using it at that time. Roughly 63% of the acquired HSBC deposits are in the New York metro area. on Feb 18. Copyright (c) 2021. Product specific information will be available on the site in early January. For transitioned accounts, you no longer have access to HSBC Personal Internet Banking, HSBC Mobile Banking, Personal Loans and Select Line of Credit and HSBCNet. The next website will open in a new browser window or tab. 25 in market share in the nation's largest. We will wind down the residual branches, between 35-40, not subject to sale or repurposing. Member FDIC. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Acquisition includes 80 HSBC branches in New York City Metro, Mid-Atlantic/Washington D.C. and Southeast Florida with approximately $9.0 billion in deposits and $2.2 billion in loans. If you have accounts transitioned to Citizens and live outside the United States, HSBC sent an email about some differences in access and servicing as a Citizens customer. For East Coast and online customers, certain brokerage accounts that are included in the agreement with Citizens transferred to Citizens Securities on or about February 18, 2022. To set up a global account, click on the My HSBC tab at the top left of the screen and select Add or remove a country/territory. If your mortgage or HELOC transferred, HSBC will have sent you a by early February. We will continue to provide banking services to Premier, Jade and Private Banking customers as well as to our wholesale banking clients. At HSBC Private Bank, we put our clients at the centre of everything we do. ACH Direct Deposits will be transferred to your new account until May 19. The building's construction required 27,000 tonnes of structural steel, one million square feet of cladding and up to 4,500 workers on site 24 hours a day. Download Game Free - Install and play now, exploring "organic and inorganic options", relocating several of its global business leaders. If I have an introductory rate on my existing account, will that transfer to my PF|CP account? Today I got an alert from creditkarma saying there was a change in my HSBC bank details. Where will HSBC Bank Wealth Centers be located? The bank bought boutique firms JMP Group and DH. Yes, you will maintain that rate as long as you meet the eligibility requirements. Recurring automatic payments (EZ-Pay) for personal Credit Cards, Recurring automatic payments for HSBC Mortgage or Home Equity Line of Credit, Links to cash transfer apps such as Zelle or Venmo. Insurance and annuity relationships are not impacted by the transaction with Cathay Bank. HSBC Bank is starting to focus on serving wealthier customers. It opened in 1986. Until September 17, 2022, please contact HSBC. If you are enrolled in a program that offers rewards and your account is open and in good standing: Your earn rate will remain the same or will improve, depending upon the program in which you are enrolled. Cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. Customers whose accounts will transfer recently received a letter from PF|CP informing them that ownership was to transfer to First Bank & Trust as of August 20, 2022 (the July Letter). Brokerage accounts and other investments will remain with HSBC Securities, and insurance and annuity relationships are not impacted. Morgan Stanley & Co., LLC served as financial advisor and Debevoise & Plimpton LLP served as legal counsel to Citizens. is not responsible for these charges. More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the United States Securities and Exchange Commission. If you believe you are subject to protection under the Bankruptcy Code, please contact our Customer Service Department at your earliest convenience so that we can update the records applicable to this account, if appropriate. Citizens Financial Group, which has been on a merger-and-acquisition streak, is set to finalize the first of two big bank transactions that have been on its plate since last year.. Since the July letter, it has become necessary to change the date of the transfer to September 17, 2022, from August 20, 2022. Citizens is getting 66 branches in the New York City area, nine in the mid-Atlantic and Washington, D.C., area, and five in southeast Florida. Note: HSBC is not responsible for any content on third party sites, nor does a link suggest endorsement of those sites and/or their content. In addition, the $7 billion net deposit position provides us significant long-term funding flexibility in support of our attractive loan growth opportunities., We are excited to welcome the HSBC employees and customers to Citizens, said Brendan Coughlin, Citizens Head of Consumer Banking. robert.a.sherman@us.hsbc.com, Richard OConnor Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Will my account remain enrolled in that program? Please refer to your Rewards Program Rules that will be included with your PF|CP credit card, which you should receive by early September. When did I become a customer of Cathay Bank? See our Cookie Policy. HSBC Bank USA, National Association (HSBC Bank USA, N.A.) All other personal account types will remain with HSBC. Community Reinvestment Act and HSBC Community Development, Citizens Information for International Customers. is not responsible for these charges. Learn what the transfer of certain HSBC credit card accounts means for our customers, here and abroad. You can chat with HSBC 24-hours-a-day, 7-days-a-week on the HSBC Mobile Banking App or at. Member FDIC. PF|CP describes itself and the Program as follows: The Premier Finance Card Program (PF|CP) is a credit card program provider sponsored by First Bank & Trust, which is one of the leading consumer credit card issuers. Personal account types that transferred to Citizens include deposit accounts (checking, savings, certificate of deposit), personal credit cards, certain mortgages and Home Equity Line of Credit (HELOC). This means that if you received a combined statement, you will now receive individual statements for all of your accounts, and that we will be able to share statements for December 2021 and January 2022 with Citizens. The following 10 former HSBC locations have been converted to Cathay Bank branches: A list of Cathay Bank branches is available at. Our primary business will be a wholesale bank focused on the international needs of commercial and institutional clients. Support this work for $1 a month. "We remain a global international bank. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. Citizens Financial will add $9.2 billion in deposits and $2.2 billion in outstanding loans once the deal closes in the first quarter of 2022. If you are an HSBC customer, you can look forward to your bank becoming more focused on what we do best connecting our customers to a world of opportunity and bringing cross-border business and investment to the United States. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. Where can I find more information about other Citizens locations? Yes, your PF|CP credit card will still allow you to tap and go at participating merchants. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. (HBUS) will reposition its US Wealth and Personal Banking business to focus on the banking and wealth management needs of globally connected affluent and high net worth clients. HSBC uses cookies to give you the best possible experience on our websites. Aug 11, 2011 Updated Feb 23, 2021. Pay with Points for annual fees will no longer be available, as your account will not have an annual fee. What changes for my ATM/debit and credit cards? Transferring accounts include those held by customers who had a stand-alone credit card with HSBC and no other financial relationship such as a checking or savings account. We look forward to continuing to provide these customers with safe deposit box services at the current location. When will I receive my replacement PF|CP credit card? "There is a role for an international bank, particularly one that is capable of bridging the East and the West.". Citizens Bank has entered into an agreement to purchase the East Coast domestic mass market and retail business banking businesses as well as the online bank portfolio, including 80 branches and approximately 800,000 customer relationships with c. US$9.2bn in deposits and US$2.2bn of outstanding loans as at 31 March 2021. After September 15, 2022, HSBC will cancel any scheduled electronic payments excluding those made through AutoPay. It currently has 148 American branches - JPMorgan Chase, by comparison, opened 158 new branches alone in the US last year. In February 2022, HSBC Bank USA, N.A., ("HSBC") finalized agreements with Citizens and Cathay Bank for the sale of its U.S. mass market retail banking businesses. If you are enrolled in paperless statements with HSBC, you will need to re-enroll for this service with PF|CP. In preparation for a smooth transition of one or more of your accounts to Citizens, we changed your account statement format from a combined statement to individual statements for each account. Citizens Bank and Cathay Bank, subsidiaries of Citizens Financial Group and Cathay General Corp., have agreed to buy HSBC's businesses on the east and west coasts, respectively. 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