The ACH routing number for Citizens Bank is 241070417. 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. Beginning August 26, 2022, PF|CP will be mailing replacement credit cards with a replacement account number to accounts open and in good standing as of August 21, 2022. 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. Starting February 7. The bank said in May it was on track to hire 1,000 of those roles this year. "The US plays a large role in HSBC's Asia growth strategy, particularly in support of our ambitions to become the leading wealth manager in Asia," said Greg Hingston, HSBC's Asia Pacific regional head of wealth and personal banking. Yes, the terms of the hardship program will be maintained as long as you continue to meet the eligibility requirements. As a result of this new focus for HSBC in the U.S., we are streamlining parts of. 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. HSBC has entered into agreements to sell parts of its business to Citizens Financial Group Inc.'s Citizens Bank and Cathay General Bancorp's Cathay Bank. *Other payments are payments to your own accounts held with other banks, and to family, friends or organisations not in our payee look-up or standard list on online banking. Community Reinvestment Act and HSBC Community Development, us.hsbc.com/credit-card-resource-center/manage-account/rewards. Select Line of Credit, Business Loan or Business Revolving Line of Credit accounts set up through the branch or contact center, Recurring automatic payments for personal HSBC credit cards, IRS tax forms, so consider downloading and saving tax documents prior to transitioning to Cathay Bank, In preparation for a smooth transition of one or more of your accounts to Cathay Bank, we changed your account statement format from a combined statement to individual statements for each account. 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. If you are enrolled in paperless statements with HSBC, you will need to re-enroll for this service with PF|CP. Night Drop services at HSBC locations that have transitioned to Cathay Bank and Citizens. +1 646 939 6998 After the transfer, PF|CP will service your account and provide a new online experience for you to manage payments, alert settings, statement preferences, and more. Green Savings: Citizens Bank gives you the first four months free of charge when you open this savings account. Your enrollment will automatically transfer to PF|CP, and your payments will continue as scheduled. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. 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 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. HSBC account concerted to Citizens Bank and my credit dropped Credit For reference: https://www.citizensbank.com/HSBC/overview.aspx? What is the impact on my investment or insurance relationships? Under Quinn, HSBC has improved the profitability of its American operations. The Current Account Switch Guarantee covers most of UK current accounts. They are good businesses, but we lacked the scale to compete. How will these agreements affect me? Community Reinvestment Act and HSBC Community Development, Citizens Information for International Customers. The next website will open in a new browser window or tab. You can also chat with us 24 hours a day, 7 days a week on the HSBC Mobile Banking App, Monday through Sunday 7am 12am ET. Investments that are not held in your brokerage account, such as annuities or 529 College Savings plans, were not included in the agreement to transfer certain accounts to Citizens. All Rights Reserved. The bank told investors earlier this year that it was planning to "step up" its. If only some of your accounts were transferred, those accounts have been moved from HSBC. 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. "They are good businesses, but we lacked the scale to compete," Quinn said in a statement regarding the sale. PF|CP has mailed letters to these accounts, notifying of the change. Beginning September 17, 2022, mail payments to PF|CP, PO Box 650726, Dallas, TX 75265-0726. HSBC uses cookies to give you the best possible experience on our websites. Will this transfer effect my credit bureau FICO score? 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. "We remain a global international bank. This next chapter of HSBCs presence in the US will see the team focus on our competitive strengths, connecting our global wholesale and wealth management clients to other markets around the world.. Original review: Dec. 29, 2022. Weve entered into an agreement with Royal Bank of Canada. Before sending us your information, please read our privacy policy. 25 in market share in the nation's largest. The London-based bank said it would sell its banking operations for the mass market and small businesses on the East Coast to Citizens Bank, part of Citizens Financial Group, and sell its West Coast retail operations to California's Cathay Bank. Following are transactions and information that did not transition to Citizens: One-time future dated payments set up through the branch or contact center with a payment date after February 17 to personal Credit Cards, Select Line of Credit or Personal Loan accounts. Citizens will pick up nearly 800,000 former HSBC customers, increasing its existing portfolio of 6.6 million by 21%. Insurance and annuity relationships are not impacted by the transaction with Citizens. HSBC's two local. For West Coast customers, banking relationships transitioned to Cathay Bank but investment and insurance relationships did not as they were not part of the agreement. If a customer did not receive a letter, no action is required. What can you tell me about HSBC Bank Wealth Centers? They are neither statements of historical fact nor guarantees or assurances of future performance. 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. Begin using Citizens checks on February 19. Weve announced further financed emissions targets for four carbon-intensive sectors. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook. Following are transactions and information that transitioned to Citizens: From February 21, 2022, to April 19, 2022, HSBC will forward any presented checks to Citizens so they can post to your new account. is not responsible for these charges) or at. HSBC Bank USA, National Association (HSBC Bank USA, N.A.) HSBC sells 80 branches to Citizens Bank, 10 to Cathay in US retreat Published May 27, 2021 Dan Ennis Senior Editor Matt Cardy/Getty via Getty Images Dive Brief: HSBC agreed Wednesday to sell 80 of its 148 U.S. branches to Providence, Rhode Island-based Citizens Bank, and 10 West Coast branches to Los Angeles-based Cathay Bank. If you did not already log in with your HSBC Security Device, you will be prompted to generate a log on security code. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. 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. Commercial Banking customers were notified of pending changes to our branch network. Combined, those businesses held US$10.2 billion in deposits and US$3 billion in outstanding loans as of March 31. ATMs are available at HSBC Wealth Centers. Do you have questions about the biggest topics and trends from around the world? Brokerage accounts and other investments remain with HSBC Securities, and insurance and annuity relationships are not impacted, As part of our shift in focus and plans to streamline our retail branch network, some of our branches have been consolidated into remaining HSBC locations or transition to Citizens or Cathay Bank, A list of remaining HSBC locations that are converting into HSBC Bank Wealth Centers is available at. "Our refreshed strategy in the US will allow us to better serve the needs of our international wealth clients, who continue to consider the US for international education, property, investment diversification, career and family mobility and business expansion, among others. Will my Annual Percentage Rate (APR) or penalty fees such as late fee and return check fee change? At 1:00 AM ET on September 17, 2022, HSBC will deactivate your HSBC credit card. (HSBC) has sold a number of credit card accounts to First Bank & Trust. You can request a debit or ATM card during the account opening process. Which accounts transitioned? 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. Personal account types that transferred to Cathay Bank include deposit accounts (checking, savings, certificate of deposit), and certain mortgages. 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. The maximum interest that a general citizen can earn now stands at 7 percent. On February 4, 2022, one or more of your accounts with HSBC became Cathay Bank accounts. Will I be able to manage my account through online and mobile banking? Citizens Financial Group, Inc. is one of the nations oldest and largest financial institutions, with $187 billion in assets as of September 30, 2021. Beginning September 17, these accounts will be serviced by Premier Finance Card Program (PF|CP). You can begin using your PF|CP credit card as soon as its activated. HSBC Bank USA, N.A. HBUS will retain a small network of physical locations in existing markets which will be repurposed into 20-25 international wealth centres to serve our core international customer base of c.300k affluent and high net worth customers (out of a historical base of c.1.4m). "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. It will remain with about 25 U.S.. HSBC remains focused and committed to our Commercial Banking customers including the Business Banking segment (businesses with an annual turnover of more than US$5 million). 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. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 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. Citizens Bank is a brand name of Citizens Bank, N.A. Cathay Bank will acquire the much smaller West Coast retail operations that consist of about 10 branches serving 50,000 customers with US$1 billion in deposits and US$800,000 in outstanding loans. Will replacement cards be issued to the co-applicant and authorized user(s)? Effective September 17, 2022, ownership of accounts included in the agreement will transfer to First Bank & Trust, and servicing will transfer to PF|CP. 3%. Learn what the transfer of certain HSBC credit card accounts means for our customers, here and abroad. They can contact their Relationship Manager for more information. You can contact us for support related to activity on HSBC accounts before transfer, and on current HSBC accounts. We appreciate you taking the time to give us feedback. Accounts of Retail Business Banking customers (small businesses with annual sales of US$5 million and under) were transitioned to Cathay Bank on February 4 and Citizens on February 18. Under the agreement, the parent company to Citizens Bank. .cookie-notification--external .cookie-notification__inner .cookie-notification__body{ padding-left:5px; } 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. The next website will open in a new browser window or tab. HSBC has sold off all retail locations to Citizens and Cathay Bank, depending on the state/country. Insurance and annuity relationships are not impacted by the transactions. The following 80 HSBC locations have been converted to Citizens branches: A list of 1,000+ Citizen branches is available at, Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. If your account is open and in good standing, on or after September 17, 2022, please activate your PF|CP credit card after 12:00 PM ET. When will my credit account(s) transfer from HSBC? HSBC has 16 branches on Long Island. At the same time, I am very pleased that we were able to execute this strategic repositioning at pace. Truly insane that there has been zero communication from the bank. Founded in 1865, HSBC is one of the worlds largest banking and financial services organisations. Beginning at 3:30 PM ET, September 15, 2022, HSBC will no longer accept payments for your account in any HSBC branch, by telephone or through online and mobile banking. 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