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Latest updates on the wind down of our deposit business

We’ve decided to wind down our Wealth and Personal Banking deposit business in New Zealand.

Why is this happening?

Following a strategic review of our Wealth and Personal Banking business in New Zealand and the sale of our mortgage portfolio to Pepper Money Limited (Pepper Money), we will continue to wind down our Wealth and Personal Banking deposit business.

We’re committed to supporting our customers throughout the wind down process.

There will, however, be changes to our product and service offering, which we have detailed below, and further adjustments will be made to accommodate the sale of our mortgage portfolio.

For more information about the wind down of our deposit business and the sale of our mortgage portfolio, please visit our Customer FAQs page.

Wind down of deposit business

  • Due to the sale of our mortgage portfolio, the wind down will progress faster than we initially expected.
  • We are now sending formal requests to our customers asking them to close their account(s) by a specified closure date.
  • After this requested date for closure, if your account(s) remain open with a balance, HSBC New Zealand will consider the funds unclaimed and we will commence the formal process of forwarding your funds to the New Zealand Inland Revenue Department, in accordance with the Unclaimed Monies Act. Should you have questions regarding the Unclaimed Monies process, please visit www.ird.govt.nz for further details on their procedures.
  • If you would like further assistance with transferring your funds and closing your account(s), please contact your Relationship Manager, send us a Secure Message via our Personal Internet Banking, or call our Contact Centre on 0800 02 80 88, or +64 9 368 8557 from overseas (if calling from outside of New Zealand international toll charges will apply).

 

Term deposits

Current, savings and multi-currency accounts

Over-the-counter services

Personal Internet Banking

Other services

Notes

    1. Standard fees & charges may apply for cash deposits and withdrawals.
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