HSBC closing retail business in Australia over next 18 months

[THR]

Likewise, for April. Quite a generous calculation... seems like they may have calculated from the actual payment date, rather than the statement / charge date of the fee, and to the announcement date rather than today. Happy to have a cool $300 back in my pocket.

I got $374 back on my Star Alliance card … agree that was quite generous given my renewal year is around March.

 

[kpc]

The closing of the Star Alliance credit card on November 18 is quite quick! I paid my $499 annual membership on 27/2/26 so should get a pro rata refund.

https://www.hsbc.com.au/content/dam/hsbc/au/docs/help/star-alliance-credit-card-closure-communication-12aug26.pdf

More info here: Credit Card Offers - HSBC Star Alliance Credit Card: Fast-Track to Star Alliance Gold Status

My Star Alliance Gold with Aeroplan expires on 31.12.26 so i wonder how long after 18 November 2026 we get to keep this status!

I just noted I got a pro rata $291.09 refunded on my annual fee of $499 which I paid on 27.2.26. So if the card is cancelled on Nov 18, the refund calculation is in my favour.

Based on other's discussion, I assume I will get to keep my *Alliance Gold with Aeroplan til 31.12.26 when it is due to expire. Better fly more Va flights and use the Virgin lounges (not that great btw) for the rest of this year.

 

[Supersonic Swinger]

I just noted I got a pro rata $291.09 refunded on my annual fee of $499 which I paid on 27.2.26. So if the card is cancelled on Nov 18, the refund calculation is in my favour.

Your refund covers the period from 12 August to 27 February next year. The fee free came into effect from 12 August as per the FAQs - https://www.hsbc.com.au/content/dam/hsbc/au/docs/help/credit-card-closures-faqs.pdf

12 August 2026 – Annual fee
No annual fee will be charged from 12 August 2026.
We’ll refund any annual fees already charged to your account in the last year (from 13 August 2025) on a prorata basis.
The refunds will be processed by 12 October 2026, provided your account is still open at the time.

 

[Doddler]

My annual fee was charged on the 17th of July. Today I got a full - $499 - refund.

Now just have to clarify whether my Christmas and New Year travel to Europe, booked with the credit card - will be covered by the credit card insurance. If not, I might be putting in some sort of claim for that.

 

[THR]

My annual fee was charged on the 17th of July. Today I got a full - $499 - refund.

Now just have to clarify whether my Christmas and New Year travel to Europe, booked with the credit card - will be covered by the credit card insurance. If not, I might be putting in some sort of claim for that.

I doubt they’ll provide you recompense if it’s not and they’ve refunded. You can always buy separate insurance.

 

[Doddler]

I doubt they’ll provide you recompense if it’s not and they’ve refunded. You can always buy separate insurance.

I can buy separate insurance, but on the other hand I could have avoided that expense by using another credit card to purchase. If the bank closes my account and thus invalidates the insurance, I think I can argue that they have not honoured a service that was promised. Would be a worthwhile letter to consumer protection at least. We'll see...

 

[serfty]

I received a 50% refund on my HSBC premier - the fee was charged mid January; which is six months.

I just noted I got a pro rata $291.09 refunded on my annual fee of $499 which I paid on 27.2.26. So if the card is cancelled on Nov 18, the refund calculation is in my favour.

That is precisely 7 months pro rata.

 

[Myrna]

Just checked our premier card and yes just over $132 annual fee refunded into the card.

 

[VPS]

I just got $249.50 back and am very close to getting my $48k spend so fingers crossed

 

[seachange19]

I got fees refunded on both my card and my wife’s card, so that can pay for the replacement card. I might keep the cards until they cancel them in November as the earn rate on the HSBC platinum card is better than the replacement cards with other banks due to all the changes coming through. The only real reason I got replacement cards is for the travel insurance, chasing points with the current earn rates is not really worth worrying about at my stage of life.

 

[BJReplay]

I doubt they’ll provide you recompense if it’s not and they’ve refunded. You can always buy separate insurance.

True, and I agree they'll not provide any compensation for insurance being unavailable.

I can buy separate insurance, but on the other hand I could have avoided that expense by using another credit card to purchase.

That's the annoying factor. If you spent the minimum qualifying amount of $1,000, you're out of pocket $30 in conversion fees you might have avoided on a fee free card.

If you spent $10,000, you're out of pocket $300, which is probably roughly the cost of insurance - which you're going to have to buy again (depending on your age, the destination, and your risks).

If you spent $50,000, well, yeah, I'd be upset, too!

 

[TDC]

Having compared the credit cards that sounded achievable based on comments posted here, on Tuesday I went through the onerous task of applying for the Bankwest Breeze Platinum Mastercard. The application timed out a number of times because so much detail is required. Eventually it seemed to bomb out so I rang and spoke to someone who was friendly and helpful. Then I emailed proof of income - 11 documents - I wasn't going to risk skimping on information.

Today my application was approved. I am so relieved! The next step is to move all the authorised payments to the new card. That can be tomorrow's job.

 

[BJReplay]

Today my application was approved.

Congratulations!

 

[carls888]

I got fees refunded on both my card and my wife’s card, so that can pay for the replacement card. I might keep the cards until they cancel them in November as the earn rate on the HSBC platinum card is better than the replacement cards with other banks due to all the changes coming through. The only real reason I got replacement cards is for the travel insurance, chasing points with the current earn rates is not really worth worrying about at my stage of life.

Yes we are keeping the card until the bitter end as well. May as well gain as many points as we can until November...

 

[dairyfloss]

I received a refund of $166.25 for my Premier MC annual fee - I think it was billed in Oct/Nov last year, so not terrible given it would have basically run through the full year before dying.

In the middle of trying to move our home loan to another bank. I don't want to use Pepper Money as they are too limited beyond the loan. Can also get a better deal elsewhere. Prefer to consolidate all major needs - aside from the AmEx - with one provider. I have a broker I've been working with for about 10 years that is sorting it out. He set heaps of people up on HSBC rate offers over that time, and is now getting to move them all into the next best thing. Happy days for him!

 

[serfty]

I received a refund of $166.25 for my Premier MC annual fee - I think it was billed in Oct/Nov last year, so not terrible given it would have basically run through the full year before dying.

So five months - based on other reports, you would have paid the fee in December (although the account's genesis was likely a November.)

 

[MooTime]

I received a refund of $166.25 for my Premier MC annual fee - I think it was billed in Oct/Nov last year, so not terrible given it would have basically run through the full year before dying.

In the middle of trying to move our home loan to another bank. I don't want to use Pepper Money as they are too limited beyond the loan. Can also get a better deal elsewhere. Prefer to consolidate all major needs - aside from the AmEx - with one provider. I have a broker I've been working with for about 10 years that is sorting it out. He set heaps of people up on HSBC rate offers over that time, and is now getting to move them all into the next best thing. Happy days for him!

I'll be changing bank for our home loan too, just noting an email from HSBC did state that your interest rate will stay same & carry across to pepper. Who nows how long for. Plus I personally don't like the concept of being told your to bank with so n so.

Pepper have put nothing on the table, what they will offer it's new clients. Bugger that.

 

[dairyfloss]

I'll be changing bank for our home loan too, just noting an email from HSBC did state that your interest rate will stay same & carry across to pepper. Who nows how long for. Plus I personally don't like the concept of being told your to bank with so n so.

Pepper have put nothing on the table, what they will offer it's new clients. Bugger that.

I've got a better discounted var. rate, better rewards credit card included and more, by moving to change my bank, now. Like a number of others, I'd prefer to get out before all the forced changes start happening.

 

[MaySiv]

Winder where that leaves the Star alliance card.

With the HSBC Star Alliance Credit Card closing on 18 November 2026, it feels worth flagging what we're actually losing: to my understanding there's currently no other card in the Australian market that offers alliance-wide points and Gold Status assignable to an airline of choice.

I've reached out to Star Alliance directly and to my nominated status airline's loyalty team to ask whether a replacement product with a new banking partner is being considered post-HSBC exit. Early days, but no commitment either way yet.

Curious whether others here have done the same, or have any signal on this. If there's enough of us who'd genuinely want a successor product, it seems worth being vocal about it now while HSBC's exit is still fresh news, rather than after the card quietly disappears. Happy to compare notes on who else to contact if others are keen.

 

[dairyfloss]

With the HSBC Star Alliance Credit Card closing on 18 November 2026, it feels worth flagging what we're actually losing: to my understanding there's currently no other card in the Australian market that offers alliance-wide points and Gold Status assignable to an airline of choice.

I've reached out to Star Alliance directly and to my nominated status airline's loyalty team to ask whether a replacement product with a new banking partner is being considered post-HSBC exit. Early days, but no commitment either way yet.

Curious whether others here have done the same, or have any signal on this. If there's enough of us who'd genuinely want a successor product, it seems worth being vocal about it now while HSBC's exit is still fresh news, rather than after the card quietly disappears. Happy to compare notes on who else to contact if others are keen.

Following the surcharges move by the RBA, there is next to zero chance that Star Alliance would look to re-establish their pilot with a card partner in Australia, unless AmEx chirps up. The changes are a massive loss for just about anyone in or around the travel and loyalty rewards game. But hey, at least I know my coffee will actually be $6.00 and not $6.06, right! (Hint: I never looked, or cared)