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HSBC leaving US.

Ah-Chew228
Valued Member

Re: HSBC leaving US.

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. 

Message 31 of 57
bostonterrier
New Contributor

Re: HSBC leaving US.

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

CL $73k | Util 14% | DTI 23% | Derogs 0

Message 32 of 57
mark3038
Established Contributor

HSBC Mastercard question

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

Message 33 of 57
bostonterrier
New Contributor

Re: HSBC Mastercard question

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. 

 

 

CL $73k | Util 14% | DTI 23% | Derogs 0

Message 34 of 57
FalconSteve
Established Contributor

Re: HSBC Mastercard question


@bostonterrier 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. 


Good to know, thanks

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Message 35 of 57
Taurus22
Valued Contributor

Re: HSBC Mastercard question

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

Current Wallet
Sock Drawered

On Deck:
Message 36 of 57
QuakerOatmeal
Regular Contributor

Re: HSBC leaving US.

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...

Message 37 of 57
Curious_George2
Established Contributor

Re: HSBC Mastercard question


@bostonterrier 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. 

 


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.


Message 38 of 57
M_Smart007
Epic Contributor

Re: HSBC Mastercard question


@Curious_George2 wrote:

@bostonterrier 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. 

 


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.


@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.

Message 39 of 57
rooeez
Regular Contributor

Re: HSBC Mastercard question

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


| TCL = $280,050 | TU FICO 8: 784 | EX FICO 8: 801| EQ FICO 8: 786|
Message 40 of 57
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