HSBC closing retail business in Australia over next 18 months

[kpc]

You can't change the banking details for Medicare online...you have to go into the office or call. I give up!!

Rang Medicare this am...changed my banking details from HSBC to my new bank. For some reason, my account had a restriction on it so could not be done online.

After speaking to HSBC Premier on phone last night, they suggested i go into the branch so I can TF a large sum to my new account.

Armed with my passport and DL, got there this am soon after opening and it was devoid of people...yup closed for the Bank holiday! F..k!

I don't think it was coincidental that HSBC made the closure announcement just before the Bank long WE!

 

[Supersonic Swinger]

Rang Medicare this am...changed my banking details from HSBC to my new bank. For some reason, my account had a restriction on it so could not be done online.

After speaking to HSBC Premier on phone last night, they suggested i go into the branch so I can TF a large sum to my new account.

Armed with my passport and DL, got there this am soon after opening and it was devoid of people...yup closed for the Bank holiday! F..k!

I don't think it was coincidental that HSBC made the closure announcement just before the Bank long WE!

Doh - although well done you on jumping on this promptly. Glad I'm not the only one who has translated:

"HSBC will be closing its retail banking business in Australia over the next 18 months"

into

"I will be closing my retail banking business with HSBC in Australia over the next 18 days*"

*excluding Everyday Global payments under $100 until the 2% cashback ends (possibly 1 October 2026) and using the Premier Mastercard until my rewards balance means I can transfer to Velocity or Krisflyer.

 

[kpc]

Doh - although well done you on jumping on this promptly. Glad I'm not the only one who has translated:

"HSBC will be closing its retail banking business in Australia over the next 18 months"

into

"I will be closing my retail banking business with HSBC in Australia over the next 18 days*"

No reason to wait...I do want to keep my Premier status for as long as possible as I have a US HSBC Premier account fee free...I either hold off changing my salary deposits or do monthly 9K TFs in and then out.

 

[oz_mark]

No reason to wait...I do want to keep my Premier status for as long as possible as I have a US HSBC Premier account fee free...I either hold off changing my salary deposits or do monthly 9K TFs in and then out.

I don't think you need to hold off doing anything

How will my Premier status be impacted?
Irrespective of how your individual product holdings and balances may vary in the interim, your Premier status with HSBC Australia will be protected until the Australian retail business is closed. Your Australian Premier benefits, including Global Transfers and Global View, will also remain unchanged unless you are otherwise notified by us.

Will I still be upgraded to Premier status if I meet the Premier criteria requirements?
We will no longer be upgrading customers to Premier status.