It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. In February 2020, we set out a plan to shift our business strategy in the United States to maximize the connection between our clients and our world-class international network. I have a safe deposit box at an HSBC branch. Citizens Financial Group Inc. plans to be known simply as Citizens at its new bank branches as the former regional bank grows as a national brand with more acquisitions likely, according to CEO . is not responsible for these charges) or at. Member FDIC. HSBC Holdings plc ("HSBC") is today setting out a detailed policy to phase out the financing of coal-fired power and thermal coal mining by 2030 in EU and OECD markets, and worldwide by 2040. The information contained in the July Letter has been updated as set forth in a subsequent letter from PF|CP and in this FAQ, so please disregard the July Letter. We look forward to serving these new customers and showing them all that Citizens can do for them.. Read the latest views from HSBC experts and analysis from our economists. Weve announced further financed emissions targets for four carbon-intensive sectors. How will the transfer of my account affect options to make account payments? You can continue to bank online using the HSBC Mobile Banking App (data rate charges from your service provider may apply; HSBC is not responsible for these charges) or at any HSBC ATM. 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. Please stop using it at that time. ET. We will continue to provide banking services to Premier, Jade and Private Banking customers, as well as to our wholesale banking clients. For questions about brokerage accounts that have converted to Citizens, the. There are no new promotional rate offers, or any extensions of time for any existing introductory or promotional rate offers, being made at this time. In February 2022, Citizens Bank took HSBC's US operations on the East Coast, and Cathay Bank took over on the West Coast.. You can visit the PF|CP Coming Soon page now by going to. 2022 HSBC Bank USA, N.A. Citizens Bank still expects the deal to close early in the second quarter. HSBC is selling 80 East Coast branches to Citizens Bank, and 10 West Coast branches to Cathay Bank. Quinn has previously argued that the US remains a necessary market for its aspirations as an international bank, but needed to be smaller and more focused. HSBC Bank USA, National Association (HSBC Bank USA, N.A.) We continue to provide banking services including credit cards to wholesale banking (commercial and institutional) clients, and as part of the Premier, Jade and Private Banking propositions. Since the July Letter was sent, it has become necessary for us to change the date of such transfer to September 17, 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. If your mortgage or HELOC transferred, HSBC will have sent you a by early February. .cookie-notification--external .cookie-notification__inner .cookie-notification__body{ padding-left:5px; } With Online Banking and the Mobile app, you can: Deposit checks using the mobile app ; View your account balance ; Reset your password ; Transfer funds between accounts ; Change your phone number; Stop payments; Re-order checks; Order/view statements We are renewing our emphasis on the international wealth management needs of globally mobile and affluent individuals in the United States. The $6 billion in deposits there would be good enough to rank Citizens No. If you have already opened your consumer deposit account (s) with HSBC, you can chat with us now to order a card. HSBC's US retail banking business struggled to be profitable in recent years as interest rates fell to historic lows, affecting the ability of banks to make money on traditional lending and other products tied to rates. Premier, Jade and Private Banking clients who will remain with HSBC have transitioned to one of the new 22 HSBC Bank Wealth Centers. The next website will open in a new browser window or tab. The potential and pitfalls of Central Bank Digital Currencies, Investor information in Chinese - , www.about.us.hsbc.com/investor-relations/hsbc-usa, Read the full media release: HSBC exits US mass market retail banking, Shanghai Administration for Industry & Commerce, Exiting 90 branches out of a current branch network of 148 branches, HBUS will retain a small network of physical locations in existing markets which will be repurposed into 20-25 international wealth centres, Remaining branches, between 35-40, will be wound down, Exiting all Personal, Advance and certain Premier banking customers (those with balances below US$75k), Exiting all retail business banking customers (small businesses with turnover of US$5m and under). When can I activate and start using my PF|CP credit card? 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. 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. I live outside the United States. 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. The description of those service differences is based upon information provided to us by Citizens. PROVIDENCE, R.I., February 22, 2022--Citizens Financial Group, Inc. (NYSE: CFG or "Citizens") today announced the closing of its previously announced acquisition of 80 East Coast branches and the . You need the sort code and account number to set these up. What changes for my ATM/debit and credit cards? What can you tell me about First Bank & Trust? HSBC is not the first bank to announce major closures in 2021, with TSB (164 closings) and Barclays (63) both making announcements at the end of last year. 25 in market share in the nation's largest. Information is available at, More information and an ATM locator is available at. Citizens will pick up nearly 800,000 former HSBC customers, increasing its existing portfolio of 6.6 million by 21%. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. A presentation providing additional information on the transaction is available at https://investor.citizensbank.com/about-us/investor-relations/events-and-presentations/2021.aspx, Cautionary Statement About Forward-Looking Statements. I think Premier and Jade customers will stay with HSBC. Please be aware that the external site policies, or those of another HSBC Group website, may differ from our website terms and conditions and privacy policy. Redemption options if your account is open and in good standing will be modified as follows: Direct Deposit into an HSBC checking/savings account will no longer be available. 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. Your transferred rewards balances will be available online, through PF|CP Customer Service, and on your statements. If you are enrolled in a program that offers rewards, and your account is open and in good standing: You can redeem existing rewards with HSBC until 3:30 PM ET, September 15, 2022, at, After 12:00 PM ET, September 19, 2022, you can begin redeeming rewards at. HSBC Bank USA, N.A. Yes, your PF|CP credit card will still allow you to tap and go at participating merchants. (HSBC) has sold a number of credit card accounts to First Bank & Trust. is not responsible for these charges. 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. Deposit products in the U.S. offered by HSBC Bank USA, N.A. To help make the transition as seamless as possible, Citizens will update this site as new information becomes available. Which HSBC credit cards are part of the sale? Certain closed and suspended accounts will transfer to PF|CP effective September 17, 2022. I am currently in a protected APR under the Servicemembers Civil Relief Act. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This communication contains forward-looking statements that is, statements related to future, not past, events. Will my account remain enrolled in that program? Your access to Cathay Bank online banking began on February 7. We are here to help after February 4 when one or more of your accounts have transferred to Cathay Bank. HSBC Bank USA, N.A. Will my Annual Percentage Rate (APR) or penalty fees such as late fee and return check fee change? HSBC Bank is starting to focus on serving wealthier customers. Business banking relationships also transferred to Citizens. 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. Cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. The next site will open in a new browser window. Yes, if you have an existing introductory rate offer still available to you and in effect under the terms of your HSBC account at the time of the transfer, it will remain in effect for the balance of the original term of the original offer. HSBC is uniquely positioned to capture more of this US$5 trillion market. View source version on businesswire.com: https://www.businesswire.com/news/home/20210526006133/en/, Media: Peter Lucht 781.655.2289 Endless possibilities, diverse outlooks. How will these agreements affect business accounts? Will my existing rewards balance transfer to my PF|CP account? When did I become a customer of Citizens? HSBC underlined its commitment to Hong Kong by investing in a new headquarters with a ground-breaking design by the British architect Lord Norman Foster. PF|CP will have your last 13 months of HSBC statements, which you can access when you enroll in PF|CP online banking at, If you think you may need any HSBC statement history prior to 13 months, please download these statements prior to September 15, 2022, by going to HSBC. Soon well be sharing exciting information on how were adapting these locations to enhance our service to Premier, Jade and Private Banking customers. Beginning September 17, 2022, mail payments to PF|CP, PO Box 650726, Dallas, TX 75265-0726. robert.a.sherman@us.hsbc.com, Richard OConnor In buying the East Coast retail operations, Citizens Bank will acquire 80 branches and about 800,000 customers with US$9.2 billion in deposits and US$2.2 billion in outstanding loans. Our HSBC Wealth Services Desk contact information is noted below. If you're calling from outside the US or Canada, please call 1 . 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