At HSBC Private Bank, we put our clients at the centre of everything we do. We expanded our ATM network to include 43,000 additional surcharge-free ATMs in the US and 55,000+ worldwide. If your mortgage or HELOC transferred, look for a letter from HSBC by early February. 2023. Yes, your PF|CP credit card will still allow you to tap and go at participating merchants. Citizens Financial Group, Inc. (NYSE: CFG or Citizens) today announced that Citizens Bank, N.A. I have accounts that are part of the agreement with Citizens or Cathay Bank. 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. Yes, the terms of the hardship program will be maintained as long as you continue to meet the eligibility requirements. You can activate your new Cathay Bank ATM/debit card now. What do I need to do? Our HSBC Wealth Services Desk contact information is noted below. Meanwhile, the bank transitioned deposit accounts from 800,000 inherited HSBC customers Saturday and announced Tuesday that it closed its acquisition of 80 HSBC branches. Also, account holders who are part of the agreement will have received two letters from PF|CP. 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 . Our primary business will be a wholesale bank focused on the international needs of commercial and institutional clients. If you are enrolled in a mobile wallet, just before transition, after 3:30 PM ET, September 15, 2022, you will no longer be able to access your HSBC credit card in that manner. Your APR will remain the same unless you were being charged a penalty APR, in which case such APR will be reduced to your applicable non-penalty APR. You can chat with HSBC 24-hours-a-day, 7-days-a-week on the HSBC Mobile Banking App or at. (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. Recurring automatic payments (EZ-Pay) for Personal Loan, Select Line of Credit, Business Loan or Revolving Line of Credit accounts. Citizens Financial Group, Inc. to Acquire HSBC East Coast Branches and National Online Deposit Business 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 Will I have access to historical statements in PF|CP online banking when my account is transferred? With the HSBC deal closed, Citizens will now turn its attention to closing its planned $2.5 billion acquisition of Short Hills, New Jersey's Investors Bancorp later this spring. Will I be able to manage my account through online and mobile banking? Learn what the transfer of certain HSBC credit card accounts means for our customers, here and abroad. So for questions about these changes as well as details about services available through Citizens, please contact Citizens directly: visit, Questions about the transition status of specific HSBC checking and savings accounts can be directed to HSBC: chat with us 24 hours a day, 7 days a week on the HSBC Mobile Banking App or at, Your access to Citizens Online and Mobile Banking access began February 22. Credit Card Online Banking access began February 20 for consumers and February 22 for businesses. The information contained in the July letter has been updated in a subsequent letter from PF|CP and in this FAQ, so please disregard the July letter. The deals are expected to close in the first quarter of 2022. Yes, you will be assigned a replacement account number. 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. PF|CP mailed its first letter informing you that ownership of your account was to transfer as of August 20, 2022 (the July letter). What is the impact on my investment or insurance relationships? 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. 07/28/2021. We look forward to serving these new customers and showing them all that Citizens can do for them.. Original review: Dec. 29, 2022. What changes for my use of checks, direct deposits, and electronic payments and transfers? Cash back on . Further, the. Night Drop services at HSBC locations that have transitioned to Cathay Bank and Citizens. Im enrolled in a bill payment program to pay my HSBC account with a non-HSBC financial services provider. Your customizable and curated collection of the best in trusted news plus coverage of sports, entertainment, money, weather, travel, health and lifestyle, combined with Outlook/Hotmail, Facebook . HSBC is slimming down its physical locations in the U.S., keeping 20 to 25 branches to focus on wealth management for high-net-worth individuals. Begin using Citizens checks on February 19. Camera-in device required to be able to utilize HSBC Mobile . HSBC announced earlier this year that it was exploring strategic options with respect to its US retail franchise, including organic and inorganic options to improve the profitability of its US retail business. 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. "Our continued presence in the US is key to our international network and an important contributor to our growth plans.". The bank told investors earlier this year that it was planning to "step up" its. HSBC, the biggest of Hong Kong's three currency-issuing banks, said on Thursday it will exit its mass-market retail business in the United States and focus on serving wealthy clients and international companies there as part of the 156-year-old lender's latest revamp under CEO Noel Quinn. HSBC used to have two systems - online and mobile banking - and two sets of terms and conditions. Which accounts transitioned? Build your career at HSBC. They are neither statements of historical fact nor guarantees or assurances of future performance. Your access to Cathay Bank online banking began on February 7. +44 (0) 7909 873681 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 The Citizens contact center can be reached at. Strategically repositions US retail business towards international banking and wealth management, *** Transactions agreed with Citizens Bank and Cathay Bank, pending regulatory approval *** As part of the service, we'll transfer all your payment mandates (like Direct Debits and your salary) over to your new HSBC account. HSBC said 81 of the affected branches are within one mile of a Post Office, where customers can carry out day-to-day transactions. This transaction provides us with an attractive entry into the important New York City Metro, Washington D.C. and Southeast Florida markets, said Chairman and CEO Bruce Van Saun. +1 646 939 6998 If youre calling from outside the US or Canada, please call 1-716-841-7212. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. The transactions are expected to close by the first-quarter of next year and HSBC said it expects to incur US$100,000 of pre-tax costs in connection with the sales. And if you haven't already, it's easy to enroll in Citizens Bank Online. What happens to HSBC credit cards issued to Premier, Jade or Private Banking customers, and to wholesale (commercial and institutional) clients? Pay with Points for annual fees will no longer be available, as your account will not have an annual fee. Will my PF|CP account have an annual fee? They are good businesses, but we lacked the scale to compete. Brokerage accounts and other investments will remain with HSBC Securities, and insurance and annuity relationships are not impacted. Your due date may change slightly but will still be at least 25 days after the close of each billing cycle. If your account is open and in good standing, after 12:00 PM ET, September 17, 2022, in order to obtain a replacement PIN, you must enroll in online or mobile banking, or by calling PF|CP Customer Service. Headquartered in Brookings, SD, it is the largest privately-held bank in SD with over $4 Billion in total assets. 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. 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. If you do not re-enroll, you will receive paper statements in the mail. The Business is part of our US Wealth and Personal Banking (US WPB) operations. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. Find the latest media releases, HSBC news, speeches and award wins. 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. HSBC employees hit by the restructuring will transfer to Citizens Bank or Cathay Bank, or else transition to new roles within HSBC, according to a person familiar with the British bank's plans. First Bank & Trust's experience in partnering with Fintech companies nationwide centers around the shared goal of developing market-leading solutions that deliver consumer-friendly, sustainable, innovative, and compliant financial services products on a national scale. PROVIDENCE, R.I.-- ( BUSINESS WIRE )--Citizens Financial Group, Inc. (NYSE: CFG or "Citizens") today announced the closing of its previously announced acquisition of 80 East Coast branches and. You need the sort code and account number to set these up. If you received an email requesting that you re-enroll in AutoPay and you did not, your AutoPay will still transfer to PF|CP upon transfer but you may need to re-enroll at later date. HSBC first entered the US retail banking market when it acquired a controlling stake in Marine Midland Bank in 1980. Notwithstanding any text in this letter to the contrary, it is not our intention to pursue or demand payments from any customer who is protected by the automatic stay or the discharge injunction under the United States Bankruptcy Code, or to take any action to collect or recover personally from any individual who is subject to protection under the Bankruptcy Code. What can you tell me about First Bank & Trust? Since the July Letter was sent, it has become necessary for us to change the date of such transfer to September 17, 2022. What should I do if I have additional questions? has entered into an agreement to acquire 80 East Coast branches and the national online deposit business from HSBC Bank U.S.A, N.A.. 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. We are repositioning our US retail business by renewing our emphasis on the international wealth management needs of globally mobile and affluent individuals in the United States. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc. HSBC Holdings plc, the parent company of HSBC, is headquartered in London. Under the agreement, the parent company to Citizens Bank. When will I receive my replacement PF|CP credit card? HSBC Securities remains your broker and information regarding changes to services for these accounts was provided in a letter dated February 9, 2022. Cathay Bank has entered into an agreement to purchase the West Coast domestic mass market and retail business banking businesses, including 10 branches and approximately 50,000 customer relationships with US$1.0bn in deposits and US$ 0.8bn of outstanding loans as at 31 March 2021. And it had brazenly done business in off-limits countries such as Sudan and Myanmar. HSBC Bank USA, N.A. Community Reinvestment Act and HSBC Community Development, Citizens Information for International Customers. Weve increased transaction limits for our Premier, Jade and Private Bank clients for: Mobile Check Deposit up to $25,000 daily and $50,000 monthly, ATM withdrawal and Point of Sale up to $5,000 and $15,000 respectively. robert.a.sherman@us.hsbc.com, Richard OConnor As part of our agreements with Cathay Bank and Citizens, we aligned customers safe deposit box with their banking relationship. ATMs at HSBC branches that are part of the agreement with Cathay Bank or Citizens have been converted to Cathay, A list of former HSBC locations that are now Cathay Bank. Until September 17, 2022, please contact HSBC. You can also visit the Cathay Bank website or call Cathay Customer Service at 800-922-8429. After 12:00 PM ET, September 17, 2022, you can re-enroll at. Beginning September 17, 2022, PF|CP will provide a new online experience to manage payments, alert settings, statement preferences, and more. When did I become a customer of Citizens? The changes described will be effective March 14, 2022. HSBC Bank revised FD rates 2022. In February 2022, Citizens Bank took HSBC's US operations on the East Coast, and Cathay Bank took over on the West Coast.. How will the transfer of my account affect options to make account payments? 3. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets HSBC Holdings plc (HSBC) today announces that it will exit its US domestic mass market retail banking business through several transactions, pending regulatory approval. To help make the transition as seamless as possible, Citizens will update this site as new information becomes available. 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. Cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. The ACH routing number for Citizens Bank is 241070417. Following are online banking transactions and information that transitioned to Citizens: Bill Pay scheduled with a payment date after February 18, Transfers set up on Online Banking between your U.S. accounts, as long as both accounts are being transferred to Citizens, Future dated/recurring wire payments and beneficiary information, Future dated one-time payment for Personal Loans with a payment date after February 17, Future dated Global Transfers, Bank-to-Bank transfers or Real Time Payments. 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. If youre calling from outside the US or Canada, please call, for chat support and the most up-to-date information about the transition, including answers to frequently asked questions and when you can expect new account details. Uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the failure to consummate this transaction or to make or take any filing or other action required to consummate any such transaction on a timely matter or at all. ATMs are available at HSBC Wealth Centers. Member FDIC. HSBC said it would retain a small network of about 20 to 25 brick-and-mortar locations, which will be repurposed into wealth centres to service affluent and high-net-worth international customers. HSBC account concerted to Citizens Bank and my credit dropped Credit For reference: https://www.citizensbank.com/HSBC/overview.aspx? If you are located in the United States or Canada and you wish to proceed with adding a joint account holder to a checking or savings account, you may do so by calling 1.800.975.4722. These locations are a core part of our wealth strategy: To focus on what we do best connecting our customers to a world of opportunity and bringing cross-border business and investment to the United States. How will these agreements affect me? Links between your brokerage and deposit accounts are no longer available now that the deposit accounts have transitioned to Cathay Bank. Late fee and return check fee amounts will remain the same. 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. Our continued presence in the US is key to our international network and an important contributor to our growth plans. They can contact their Relationship Manager for more information. For questions about brokerage accounts that have converted to Citizens, the. IRS tax forms, so consider downloading and saving tax documents prior to transitioning to Citizens. 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. Starting February 7. HSBC Branches Transitioning to Citizens | Citizens Resource Center Home Transition Status New Citizens Branches View all 1,000+ Citizens branches The following HSBC locations are now Citizens Locations with a * offer safe deposit box services New York New Jersey Pennsylvania Washington, DC Maryland Virginia Florida Please call the HSBC Contact Center at 1-800-975-4722 Monday through Sunday 7am 12am ET. Before sending us your information, please read our privacy policy. It opened in 1986. With assets of US$2,959bn at 31 March 2021, HSBC is one of the worlds largest banking and financial services organisations. Citizens Financial Group, Inc. is one of the nations oldest and largest financial institutions, with $187 billion in assets as of September 30, 2021. What changes for my ATM/debit and credit cards? HSBC One is the one bank account you need to empower your financial wellbeing and become money smart every Please be aware that the external site policies, or those of another HSBC group website, may differ from this website's terms and conditions and privacy policy. Cathay General Bancorps website is found at. 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. After 12:00 PM ET, September 17, 2022, you can schedule electronic payments with PF|CP. HSBC Bank USA, National Association (HSBC Bank USA, N.A.) After that point, you can get the fee waived by keeping a balance of $200 in your account. 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