HSBC leaving US.

[Ah-Chew228]

I'm nowhere close to the $75k min balance requirement. I'm only in premier because of the $5k a month direct deposit. 🙂 I'm sure they will move my relationship to Cathay Bank as I am in California. 

[Anonymous]

I'm still waiting for my email/message. Maybe they're waiting for 3 full statement cycles before determining whether I qualify for wealth management?

Spoiler: I won't

[Anonymous]

I received notification that HSBC is going to be leaving the USA.

Question:

Are they going to be closing my credit card? and or my checking account? or will they be transfering them to another bank?

thank you in advance

Mark

[Anonymous]

The representative that I spoke with last week said that the credit card accounts will be sold and transferred.

Citizens Bank (RI) is getting the majority of HSBC accounts, with west coast hsbc accts going to Cathay bank. 

[FalconSteve]

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@Anonymous wrote:

The representative that I spoke with last week said that the credit card accounts will be sold and transferred.

Citizens Bank (RI) is getting the majority of HSBC accounts, with west coast hsbc accts going to Cathay bank. 

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Good to know, thanks

[Taurus22]

So I learned something today.......I have never heard of Cathay Bank until now. Hmmm....

[QuakerOatmeal]

It's so weird that HSBC built a BEAUTIFUL, NEW bank, from scratch in a plaza, and within 6 months closed it down. It's still there, totally unused. I guess they were the last to get the memo? What a waste...

[Curious_George2]

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@Anonymous wrote:

The representative that I spoke with last week said that the credit card accounts will be sold and transferred.

Citizens Bank (RI) is getting the majority of HSBC accounts, with west coast hsbc accts going to Cathay bank. 

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West coaster here, with just one of HSBC's cards and no other relationship or special status with them. I haven't received any correspondence regarding the transition, but based on this thread I assumed my card is slated to be sold to Cathay. I just chatted to ask what would happen to my (modest) accrued rewards when my account is sold. The agent told me my account will be staying with HSBC. Could be a misinformed CSR. Only way to know for sure will be to let it play out.

[M_Smart007]

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@Curious_George2 wrote:

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@Anonymous wrote:

The representative that I spoke with last week said that the credit card accounts will be sold and transferred.

Citizens Bank (RI) is getting the majority of HSBC accounts, with west coast hsbc accts going to Cathay bank. 

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West coaster here, with just one of HSBC's cards and no other relationship or special status with them. I haven't received any correspondence regarding the transition, but based on this thread I assumed my card is slated to be sold to Cathay. I just chatted to ask what would happen to my (modest) accrued rewards when my account is sold. The agent told me my account will be staying with HSBC. Could be a misinformed CSR. Only way to know for sure will be to let it play out.

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@Curious_George2,

I am West Coast'r also. I have not received anything regarding my HSBC cards,

and possible Cathay relationship. Yep ..just gonna let it play out.

[rooeez]

I just got a letter that my account will be moved to the Montgomery Street, San Francisco branch. I guess they are not completely leaving the US? I definitely don't have a high enough net worth for them to care about my account, so perhaps they are consolidating accounts where they may be keeping a branch to service those higher end clients? I just want to get the rest of my bonus, so whatever... lol