(27/05) HSBC exits US mass retail market

[Cash Trader]

I’m guessing that when my US account gets officially transferred to Citizens it’s not going to have any function similar to or as convenient as the free global fund transfers HSBC had between US and HK bank accounts. So I am looking into moving my business to Citi by opening US and HK accounts. I don’t see any benefit from being with Citizens Bank.

[Ugo RIpanykazov]

Yes, that's exactly what I was thinking. Citizens are hardly renowned as an international banking institution with world-wide capabilities!

But I was kinda hoping that there might be some benefit in my not complaining too much when HSBC withdrew US $2000 in cash from my account without authorisation a few years ago (they did refund $90 when I complained about it enough) but I never dreamed that they would suddenly close up shop for no reason! Leaving me with not even a hope for benefit in the future.

[Peaky]

Premier customers are keeping service by HSBC which will have nothing to do with Citizens. Everyone else goes across.

With Citi leaving Mexico and countless Asian markets HSBC will be easily the best bank for international connectivity, but I agree if you only want US/HK then Citi works well enough.

[East_coast]

Will HSBC be exiting the rest of the world soon?

https://www.scmp.com/business/bankin...gtype=homepage