Any HSBC Bank customers out there?

[JB2K]

Looks like as part of a global restructuring (30,000 jobs cut worldwide), they are eliminating a lot of jobs/branches across upstate NY and neighboring states.

195 branches were sold to First Niagara, a regional NY bank...

 

[JDUCKY]

They've been looking at unloading their US "rebuilder" credit cards, too (Orchard Bank, Household Bank) and focusing on their premium/global products.

 

[JB2K]

They've been looking at unloading their US "rebuilder" credit cards, too (Orchard Bank, Household Bank) and focusing on their premium/global products.

I understand both Capital One and Wells Fargo are looking at the credit cards, which also includes the lucrative "GM Card", which gives customers reward dollars towards the purchase of a new GM vehicle.

I was curious as to who (if anyone), here would be affected with this news and their thoughts on HSBC's successor bank in upstate NY.

 

[Neelloc]

We live in WNY and bank at HSBC, so we will be affected by this. Not sure if they will take over the branches or close some.

We'll see how it goes.

 

[Alexander]

We are in Upstate NY and left when Marine Midland became HSBC. We didn't like the impersonal approach the larger bank took. Marine was a small, friendly bank.

We have the GM card and use it to purchase our new vehicles every 3 or 4 years. We have the original where we can only earn $500/year but there are no limits as to how much we can use toward a new vehicle. We often have at least $1200-1800 when we go to buy.

 

[JB2K]

We live in WNY and bank at HSBC, so we will be affected by this. Not sure if they will take over the branches or close some.

According to what I read, since this deal will "supersize" First Niagara, the federal government will order them to sell-off certain branches with their deposits to another competiting bank (probably a smaller one, as community banks usually end-up being the big winners in these type deals).