HSBC has announced that it will be exiting the U.S. retail market as part of its pivot/move to Asia. HSBC closed 80 branches last year and is expected to close/sell the remaining 150 branches as well. This likely just means that HSBC will no longer be a ‘full service bank’, but it doesn’t appear this will affect HSBC’s online offerings or credit card business.
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Good riddance
The weird thing is they just opened a DC location with a grand opening event and had special in person bonuses, the whole shabang
while offering this? makes no sense
https://www.doctorofcredit.com/hsbc-700-checking-bonus-direct-deposit-is-required/
Retail banking locations (e.g physical branches) is different to online banking.
Yikes no Slickdeals bonus this year 🙁
Leaving again? I remember they were getting out of the US during the financial crisis laying everyone off.
Why so many political propaganda on this site especially in the comment section?
Will they forgive my 400k loan?
In all seriousness, it’s possible. Chase forgave all CC debt when they pulled out of Canada.
Bob, why chase do so ?
No official explanation was ever given. The popular theory was that it was costing them more to keep the credit card division operating just to collect on these balances than they were making in interest on these balances.
GREAT!!!!!
F them? lol
Are they keeping their money laundering for drug cartels? Not that I need it. Just curious.
All this would be moot if the government stopped the evil war on drugs that criminalizes personal decisions for your own body. Cartels and violence only exist because government turns something that is worth $10 in a drug store to something $500 on the streets. Like prohibition, the war on drugs does nothing to stop something that anyway is a matter of personal choice and freedom.
Damn – I have quite a few muni bond funds with them which I have not been able to find elsewhere (BoA/ME, Schwab, TDA, MS, Citi, WF) – hope that they keep their online operation going!
I didn’t know they had a brokerage in the US – is it self directed?
Yep – but the fees are quite exorbitant. You still technically have a broker but you can buy/trade online directly without going through them. Once established, it trades through Pershing. It only really makes sense if you’re Premier so they waive most of the fees. I certainly wouldn’t use them for regular items available elsewhere but they have quite a few funds I just can’t get elsewhere. You can also get multiple corporate bonds if that’s your thing. I really hope that piece of the business remains.