Important Notices

As a part of the wind down process of our Wealth and Personal Banking business, we entered into an agreement with Pepper Money Limited (Pepper Money) to sell our home loan portfolio.  The transfer of our mortgage portfolio to Pepper New Zealand Limited (“Pepper Money”) has been successfully completed. This means that as of Monday 4 December 2023, our home loan customers will now manage their home loan(s) with Pepper Money.

Should you have any questions or concerns, please contact us or visit our website for the latest updates on the wind down and our most frequently asked questions at www.hsbc.co.nz/wind-down.

With Overseas Investment Office approval confirmed, our home loan customers will transfer to Pepper Money. This means the transfer of home loan(s) to Pepper Money will be completed on Friday 1 December 2023 and from Monday 4 December 2023, our customers will manage their home loan(s) with Pepper Money.

Following completion of the transfer of the home loans to Pepper Money on Friday 1 December 2023, there will be a planned system outage to allow for the transfer of information relating to our mortgage portfolio to Pepper Money. This means that Personal Internet Banking will not be accessible from approximately 11:00p.m. on Friday 1 December until 8:00p.m. on Saturday 2 December 2023. Any payments scheduled for that day will be processed as soon as our system is back online.

Should you require any assistance during this time, please speak to one of our Premier Consultants on 0800 028 088 (within New Zealand) or + 64 9 368 8557 (from overseas, international toll charges apply) and they will be happy to help.

We sincerely apologise for any inconvenience that the service outage may cause you.

In the lead-up to the transfer of your home loan to Pepper Money, there will be a period of suspended service where we will be unable to execute customers’ change requests relating to their home loan(s), except for lump sum payments and (re)drawings of available limits, which customers can continue to make up until 3.30p.m. on Thursday 30 November 2023.

If you have a Revolving Credit Mortgage (RCM), also known as a Home Equity Loan, you will be able to transact on the RCM through the suspended period of service and this will remain available up until 10.59p.m. on Friday 1 December 2023. If you would like to make a change to your home loan(s) before the transfer to Pepper, or have any further questions or concerns, we recommend you contact your Relationship Manager directly.

We will try to process all change requests received before the period of suspended service. However, if we receive a request that we are unable to execute in time, we will advise you to connect with Pepper Money after your loan(s) have transferred.

The last day you can use your HSBC Debit Mastercard is 30 November 2023. This means you will no longer be able to transact using your card from 1 December 2023 onwards. If your card is reported lost or stolen from 1 November 2023 onwards, it will not be replaced. 

Please arrange for another debit card at another financial services provider and close your HSBC accounts if you can. Please ensure any recurring payments or subscriptions currently loaded against your HSBC card are transferred across to your new account or debit card as soon as possible. If you do not update any regular payments from your HSBC card before 30 November 2023, you risk these payments being declined and this may result in additional fees or penalties.

The last day you will be able to access your HSBC New Zealand account(s) via Global View Global Transfer (GVGT) is 30 November 2023. This means you will no longer be able to view or transact from your HSBC NZ account(s) via GVGT via your HSBC internet banking from 1 December 2023 onwards.

If you have funds in your HSBC NZ account(s) and want to send these to your HSBC account(s) overseas using GVGT, please ensure you complete these transfers before 30 November 2023. If you need to transfer your funds to another HSBC account overseas after this date, please note you will need to do this via a Telegraphic Transfer (TT), which will take longer to process, and you may incur beneficiary bank fees.

Please note that HSBC Personal Internet Banking access will remain for now.  We will give due notice as and when this service will be removed.

We have made the decision to permanently close our Wellington branch from 4pm on Friday 18th August 2023. If you require assistance, please contact your Relationship Manager directly, call our helpdesk on 0800 02 80 88 or +64 9 368 8557, or visit our page on Ways to Bank. We apologise for any inconvenience this may cause.

We are changing some of our HSBC Wealth and Personal Banking Fees and Charges.

Effective 13 June 2023, the following fees are removed.  The services remain available, however there will be no fee charged:

• Premier Service: The Relationship service fee that applied to non-qualifying HSBC Premier customers per month, was charged at $15.00 per month.
• Local Payment: Initiated manually for Premier customers, was $5.00
• Local Payment: Initiated manually for Personal Banking customers, was $10.00
• Outward International Payment: Initiated manually for Premier customers, was $25.00
• Outward International Payment: Initiated manually for Personal Banking customers, was $30.00
• Outward International Payment: Initiated electronically via Personal Internet Banking, was $20.00

Our HSBC Wealth and Personal Banking Fees and Charges List is in the process of being updated. It will be available at our website, under Document Centre.

From 26 May 2023, electronic credit and direct debit payments are processed every single day of the year, including weekends and public holidays. Kiwis can make and receive electronic payments between bank accounts, whether they are at the same or different banks, every day of the year. This also includes card transactions, which will be processed on non-business days.

For more information on SBI365 please click here.

Please be advised we will be updating the HSBC Wealth and Personal Banking Terms and Conditions, effective 27 May 2023.

The changes relate to:

1. Section 4.4.1 - Electronic Payment Debits: We have deleted a paragraph that explained that payments could not be made on non-Business Days. From 27 May        2023, Electronic Payment debits can be made on non-Business Days.  
2. Section 6.6 - Inactive Accounts: We have added details to allow us to convert any foreign currency held with HSBC into New Zealand dollars before we send            unclaimed moneys to the Inland Revenue Department under the Unclaimed Money Act 1971.

The latest copy of our HSBC Wealth and Personal Banking Terms and Conditions is always available at our website, at Document Centre. It will be updated 27 May 2023 to reflect the above changes.

HSBC New Zealand has suppressed the printing of annual Non-Resident Withholding Tax (NRWT) certificates and annual Resident Withholding Tax (RWT) certificates for customers who have provided HSBC with their IRD number.

We continue to issue hard copies of Resident Withholding Tax (RWT) certificates where customers had not provided their IRD number to HSBC and the gross domestic interest paid on their investment income exceeded NZ$50 during the tax year.

The information previously contained in the annual tax certificates will be available through the myIR portal on the Inland Revenue's website.

Further information can be found on the IRD website. If you need to update your details please call our 24/7 contact centre on 0800 02 80 88 if calling within New Zealand, or on +64 9 368 8557 if calling from outside New Zealand (international toll charges may apply).

Note: HSBC New Zealand does not provide tax advice. We recommend you to obtain independent tax advice.

Effective 15 May 2023, the following Home Loan service fees will be removed.  The services remain available, however there will be no fee charged:

• Loan application: Was charged at $250.00 per application,  
• Security variation: Was charged at $150.00 per variation, 
• Documentation variation: Was charged at $150 per variation, 
• To up:  Was charged at $250 per loan top up.

The below Lending service fee will be removed.  The service is no longer available.  

• Bank guarantee - Annual Renewal fee: Was charged at $150.00. 

The latest copy of our HSBC Wealth and Personal Banking Fees and Charges List is always available at our website, under Document Centre.  It will be updated on 15 May 2023 to reflect the above changes.

In accordance with the Unclaimed Money Act 1971, we will be transferring unclaimed money to the Inland Revenue Department (IRD) on 30 March 2023. As required by IRD, unclaimed money in foreign currency will be converted to New Zealand dollars at HSBC’s prevailing exchange rates prior to transfer.

If you believe you are the owner of unclaimed money held in an HSBC New Zealand account, please contact us immediately at customerservices@hsbc.co.nz or call our 24/7 Contact Centre on 0800 02 80 88 (within New Zealand) or +64 9 368 8557 (from overseas; international toll charges apply).

For more information on how to reclaim your money once it has been transferred to the IRD, please visit www.ird.govt.nz/unclaimed-money

Please be advised we will be updating the HSBC Wealth and Personal Banking Terms and Conditions, effective 21 December 2022. The changes relate to:

1. The defined term "Business", which relates to any firm, trust, company, corporation, statutory body, government body, partnership, society, sole proprietorship, club, association or other incorporated body of persons, has been changed to "Entity". This is to avoid confusion, as we do not support business accounts.
2. In relation to Term Deposits (TDs):
   1. Clearer wording around auto-renewal of TDs unless instructed otherwise.
   2. TDs maturing on a non-Business Day will be processed on the next Business Day (not the previous Business Day).
   3. Clearer wording around the one-week cancellation/cooling-off period for changing TD instructions.
   4. Clearer wording around break costs and/or recovery of interest that can be charged when breaking a TD, including that charges can be deducted from the proceeds of the TD.
3. In relation to our Complaints Handling process, we will endeavour to acknowledge receipt of your complaint within 2 Business Days.

The latest copy of our HSBC Wealth and Personal Banking Terms and Conditions is always available at our website, at Document Centre. It will be updated 21 December 2022 to reflect the above changes.

Effective 12 December 2022, the following fees will be removed:

• Explorer Account: This Product was previously listed with no fees at the Monthly account and transaction fees table. HSBC Premier Explorers are our Minor customers, and their Premier parent, grandparent or guardian can access HSBC Premier Products for them, as detailed in our HSBC Wealth and Personal Banking Terms and Conditions.
• The Administration fee for the Early prepayment of a fixed rate loan: Was charged at $20.00 per loan.
• The Overdraft establishment fees, for both Permanent and Temporary: Were charged at $50.00 and $25.00 respectively. This product is not available.

In addition, the following fees will be amended:

• Statement of account, Replacement or duplicate statement: Was charged at $5.00 per statement.  Will be amended to $1.00 per statement, maximum of $20.00.

There are other minor amends to fee descriptions or any website links detailed.

The latest copy of our HSBC Wealth and Personal Banking Fees and Charges List is always available at our website, under Document Centre.  It will be updated on 12 December 2022 to reflect the above changes.

Please be advised we will be updating the HSBC Wealth and Personal Banking Terms and Conditions, effective 01 August 2022. The changes relate to:

• The removal of the seven-day 'term' for our HSBC Term Deposits.  The minimum term will now be 28-days.
• Clarification of our HSBC Premier Explorer customers (minors, 0 -17 years of age, inclusive), and their ability to hold an HSBC Account.
• Amendments to our Direct Debit terms and how you can cancel a Direct Debit instruction.
• Other minor changes to terms.

The latest copy of our HSBC Wealth and Personal Banking Terms and Conditions is always available at our website, under Important Information. To download a copy, please click here. It will be updated on 01 August 2022 to reflect the above changes.

Effective 23 May 2022, the following fees will be amended:

• HSBC Debit Mastercard - Annual service fee: Was charged to our Personal Banking customers at $10.00 p.a., will be now be removed. No customer will be charged an Annual service fee for our HSBC Debit Mastercard.
• The Monthly Service Fee relating to Multi Currency Accounts: Was charged to our Personal Banking customers at one $5.00 fee, irrespective of the number of currency accounts held, will be amended. Now, the NZD equivalent, $5.00 fee will apply to all currency accounts held.

In addition, the description of the Early prepayment of a fixed rate home loan – Break cost fee will be amended to state:

• "As defined in the Loan Details documentation, an amount reflecting HSBC's loss on early prepayment that may be payable if you choose to prepay your fixed rate loan, switch to a different interest rate or make certain other changes to your fixed rate loan prior to expiry of the fixed rate term. Please contact us for an indicative example."

The latest copy of our HSBC Wealth and Personal Banking Fees and Charges List is always available at our website, under Important Information. It will be updated on 23 May 2022 to reflect the above changes.

HSBC no longer provides annual Resident Withholding Tax certificates unless you have not provided your IRD number to us and the gross domestic interest paid on your investment income exceeds NZ$50 during the tax year.

As of April 2022, HSBC will also no longer provide hard copies of Non Resident Withholding Tax certificates.

The information previously contained in the annual tax certificates will be available through myIR on Inland Revenue's website.

Further information can be found on the IRD website. If you need to update your details please call our 24/7 contact centre on 0800 02 80 88 if calling within New Zealand, or on +64 9 368 8557 if calling from outside New Zealand (international toll charges may apply).

Note: HSBC NZ does not provide tax advice. We recommend you obtain independent tax advice.

We are making changes to our HSBC Wealth and Personal Banking Home Loan Standard Terms and Conditions, effective 30 April 2022.

Summary of changes to HSBC Wealth and Personal Banking Home Loan Standard Terms and Conditions:

1. Update to clauses relating to when break costs are charged. The changes are to more clearly set out when break costs are payable. There is no change to how we currently calculate and charge break costs in practice.
2. Insertion of an express right of a borrower to increase fortnightly/monthly repayments without penalty (subject to conditions).
3. Clarification that where your Loan Details (i.e. the agreement relating to your home loan) relate to more than 1 loan, each loan constitutes a separate 'credit contract' for the purposes of the CCCFA.
4. Replacement of our old fax number with our current telephone number.

The latest copy of this document is always available at our website, to download a copy please click here

It will be updated on 30 April 2022 to reflect the above changes.

We're removing foreign cash services: 29 October 2021 is the last day you can buy or sell foreign cash at our HSBC branch.

With the 2020-21 global pandemic, and closing of NZ's borders, the uptake of foreign cash through the HSBC branch in Auckland has dramatically reduced.

Should you need to obtain cash for overseas travel, your best alternative is using an HSBC Corporate Mastercard at your destination.

• For smaller amounts – use your Corporate HSBC Mastercard at any ATM that accepts Mastercard.
• For larger amounts – obtain a cash advance against your Corporate Mastercard over the counter from any bank that accepts Mastercard.

If you need further advice or would like any further clarification on these changes, please contact your Relationship Manager or our helpdesk on + 64 9 368 8880 to discuss further.

We are changing some of our HSBC Wealth and Personal Banking Fees and Charges.

Effective 02 November 2021, the following Home Loan service fees will be reduced:

• Loan application fee: From $400 to $250
• Early prepayment of a fixed rate loan, Administration fee: From $50 to $20
• Security discharge: From $150 to $75.

The following Home Loan services will have their fees removed. HSBC will still perform the services, but at no charge:

• Split or multiple loan establishment: Was $150, now removed
• Construction loan drawdown: Was $100, now removed
• Redraw (of a floating rate table loan): Was $25, now removed.

Our Wealth and Personal Banking Home Loan Standard Terms and Conditions will also be updated to reflect the above changes to the Fees and Charges List, along with the following additional amendments:

• Section 1.1: delete reference to 'cheques'
• Section 2.6: a change to the timing for providing information when you instruct us to fix an interest rate
• Section 13.4: references to "FastPost" replaced with "courier"
• Other minor amendments

In addition, the fees related to Foreign currency cash conversion, deposit or withdrawal from a Multi-Currency Account will be removed from our fees and charges list. This is because HSBC will no longer be dealing in foreign cash and the last day for the sale or purchase of foreign cash from our 188 Quay St branch in Auckland will be Friday 29^th October 2021.

Both the Wealth and Personal Banking Fees and Charges Listing (PDF, 67KB) and the Home Loan Standard Terms and Conditions (PDF, 174KB) will be updated on 02 November 2021 to reflect the changes summarised above.

HSBC will no longer be dealing in Foreign currency cash. The last day for the sale or purchase of Foreign currency cash from our 188 Quay St branch in Auckland will be Friday 29^th October 2021. The fees related to Foreign currency cash conversion, deposit or withdrawal from a Multi-Currency Account will be removed from our WPB Fees and Charges Listing, effective 02 November 2021.

Effective Tuesday, 19 October 2021 the HSBC Smart Saver interest rate will increase to 0.30% p.a. (for balances up to ND5,000,000), and the HSBC eSaver Interest rate will increase to 0.10% (for balances up to NZD5,000,000).

For our most up-to-date interest rates, please click here.

• Update to some sections relating to tax. The changes clarify how we deduct withholding tax or approved issuer levy from any gross credit interest credited to, or paid on, accounts.
• Other minor amends.

From 1 October 2021, the new 39% RWT rate on interest income will become available for you to use. For more detailed information on the changes, please visit the IRD's webpage.

If you (the Account Holder) are a New Zealand Tax Resident, and wish to check or update the RWT rate that applies to your accounts held with HSBC New Zealand, please contact your Relationship Manager. You may also call us on 0800 028 088 (within New Zealand) or if calling from overseas on +64 9 368 8557 (noting international toll charges may apply).

You should provide us with or change your RWT rate that's appropriate to your level of taxable income. Selecting a rate that is too low may mean you have an end of year tax liability. Please note that any change in your RWT rate may also affect the tax rate applicable to your joint account (if any).

If you have not given your IRD number to us, the RWT rate of 45% will apply on any interest earned on your accounts.

1. We are pleased to inform you that the retention period of eStatements within internet banking has been increased from 12 months to 18 months. The increase will be progressive month on month, i.e. you will be able to view 13 months in September 2021, 14 months in October 2021 and so on, until the maximum of 18 months is reached.
2. For customers who are currently receiving eStatements but not eAdvices, from mid-September onwards you will start receiving your advices electronically. Your eAdvices will be sent to you via Secure Message. To view your eAdvices, please click on "Help & Support" on the top menu bar, then select "Secure Message." Your eAdvices will be available via Secure Message for up to 6 months.

If you have further enquiries please contact us on 0800 028 088 (within New Zealand) or if calling from overseas on +64 9 368 8557 (noting international toll charges may apply).

We are making changes to our HSBC Wealth and Personal Banking Terms and Conditions and HSBC Wealth and Personal Banking Fees and Charges, effective 28 June 2021.

Summary of changes to HSBC Wealth and Personal Banking Terms and Conditions:

• Removal of local cheque and cheque service references as we remove these payment methods.
• Other minor amends.

Summary of changes to HSBC Wealth and Personal Banking Fees and Charges:

• Removal of the out-dated Summary of Key Terms at the front of this listing. This information is now on our website.
• Removal of local cheque fees; Cheque deposits and Stop payments, as we remove these payment methods.
• Removal of fees related to Auditors Confirmation Reports and Document Searches.
• Other minor amends.

The latest copy of both of these documents are always available at our website, to download a copy please click here.

They will be updated on 28 June 2021 to reflect the above changes.

We are changing some of our HSBC Wealth and Personal Banking Fees and Charges.  Effective 19 April 2021, the following fees will be removed:

• Same Day Cleared Payments – with notification to beneficiary and without.
• Bank cheques – and all fees associated with purchasing, replacing or repurchasing.
• Bank drafts – and all fees associated with purchasing, replacing or repurchasing.
• Special answers (NZD).
• Fax sent overseas, or to local destinations.
• The Fees and Charges listing is being reformatted, and a number of other fees that were listed with 'no charge' will be removed.

The latest copy of our HSBC Fees and Charges brochure is always available at our website, under Important Information.  It will be updated on 19 April 2021 to reflect the above changes.

Over the next few months we’ll be removing HSBC cheques, bank cheques and bank drafts from service. For more information and alternative ways to bank, please click here.

From 15 March 2021, HSBC is a licenced Financial Advice Provider (FAP), please click here to view or download a copy of the HSBC FAP Public Disclosure Statement.

The following documents have also been updated effective 15 March 2021 as necessary to reflect a new financial advice regime, this includes removing references specific to the old QFE regime and the Financial Advisers Act 2008. You may view and download a copy from here.

• Wealth and Personal Banking Terms and Conditions
• Wealth and Personal Banking Fees and Charges
• HSBC Debit Mastercard Terms and Conditions

Please be advised we have also updated the HSBC Home Loan Standard Terms and Conditions, effective 15 March 2021. In brief, the changes relate to:

1. Update of our name, from ‘Retail Banking and Wealth Management’, to ‘Wealth and Personal Banking’.
2. Adding a prescribed disclaimer which states that advice given in relation to consumer credit contracts will not be regulated financial advice (see “Important Notes” section on page 2).
3. Updating our address details.
4. Deleting historic references to facsimile, QFE Disclosure, and lenders mortgage insurance.
5. Removal of the term ‘HSBC ATM Card’ replaced by ‘HSBC Debit Mastercard’, which has separate HSBC Debit Mastercard Terms and Conditions.
6. Updating the timeframe in which HSBC will provide confirmation when you convert to a fixed rate (see section 2.6 – converting to a fixed interest rate).
7. General updates to the representations and warranties to reflect the current market standard (see section 6 – Representations and Warranties).
8. Additional undertakings regarding property and accounts (see section 7 – Undertakings).
9. Additional default events including in relation to trusts and partnerships (see section 9 – Default Events).
10. Updating the definition of “Administration”, and making necessary amendments as a consequence of the new definition (see section 14.1).
11. Additional confirmations regarding trusts (see Schedule 2 – Trusts).
12. Other minor changes to terms.

If you have further enquiries please contact one of our Premier Consultants who are available 24 hours 7 days a week at our dedicated New Zealand Premier Call Centre on  within New Zealand or if calling from overseas on  (international toll charges apply).

We are pleased to advise that our Auckland office and retail service centre are moving in December 2020. From Monday 21st December 2020 our new address is:

The Hongkong and Shanghai Banking Corporation Limited

HSBC Tower

Level 21, 188 Quay Street

Auckland 1010

New Zealand

Effective from 3 December 2020 there are changes to the HSBC Premier eligibility criteria. We have added an additional local qualifying criteria of;

• Having an individual or joint annual income of at least NZD125,000 and/or (new)
• A minimum of NZD$500,000 in loans view; and/or
• A minimum of NZD$100,000 in savings and investments and/or
• If you are an overseas HSBC Premier customer you will automatically qualify for Premier customer status in New Zealand.

Please note that the Default Interest margin will be reduced to 1.5% effective from 3 December 2020. For further information click here (PDF, 573KB).

We contacted you recently to let you know that we’re introducing a quick and easy extra layer of security for your HSBC Debit Mastercard. It’s called Mastercard Identity Check and your card will automatically be enrolled into this service from 15 October 2020. Click here (PDF, 198KB) to find out more.

Please be advised we will be updating the HSBC Wealth and Personal Banking Terms and Conditions, effective 01 August 2020. In brief, the changes relate to:

1. Update of our name, from ‘Retail Banking and Wealth Management’, to ‘Wealth and Personal Banking’.
2. Clarification on how we can contact you (see section 3.11).
3. Additional circumstances under which we can close or suspend an account without prior notice (see section 6.5).
4. Removal of the term ‘HSBC Cards’, replaced by ‘HSBC Debit Mastercard’, which has separate HSBC Debit  Mastercard Terms and Conditions (PDF, 94.8KB).
5. Other minor changes to terms.

If you have further enquiries please contact one of our Premier Consultants who are available 24 hours 7 days a week at our dedicated New Zealand Premier Call Centre on 0800 028 088 within New Zealand or if calling from overseas on +64 9 368 8557 (international toll charges apply).

We are making changes to Approved Issuer Levy (AIL) deductions. You will be impacted by this change if you have opted in to have the AIL applied to the interest earned on your HSBC accounts for tax purposes on your non-resident status. To find out more please click here (PDF, 392KB).

Change examples:

• Statements - for interest earning accounts and deposits (PDF, 745KB)
• Term Deposit Advices – for deposits with interest paid at maturity (PDF, 688KB)
  
• Term Deposit Advices – for deposits with interim interest payments (PDF, 676KB)

If you have further enquiries please contact one of our Premier Consultants who are available 24 hours 7 days a week at our dedicated New Zealand Premier Call Centre on 0800 028 088 within New Zealand or if calling from overseas on +64 9 368 8557 (international toll charges apply).

Changes to New Zealand tax laws about investment income come into effect on 1 April 2020. We have summarised below the impact of these tax changes on you with respect to your HSBC account. For more detailed information on the changes, please visit the IRD’s webpage

If you receive investment income from HSBC, some of these changes may affect you as follows:

1. You must provide your IRD number to HSBC to make sure you are on the right tax rate. If you have not provided HSBC with your IRD number, a new non declaration rate of 45% for resident withholding tax (RWT) applies to all interest paid on your investment income earned from us from 1 April 2020.
2. HSBC will no longer provide annual RWT certificates unless you have not provided your IRD number to us and the gross domestic interest paid on your investment income exceeds NZ$50 during the tax year. The information previously contained in the annual RWT certificate will be available electronically through myIR on Inland Revenue’s website.
3. HSBC will no longer require you to provide us with a certificate of exemption for RWT from 1 April 2020. Instead, you will need to notify us of your RWT exempt status so we can verify your status on the electronic RWT exempt status register. You will also need to notify us when you RWT exempt status changes.

Where to go for further information

Further information can be found on the IRD website. If you need to update your details, please either speak to your Relationship Manager or call our 24/7 contact centre on 0800 02 80 88 if calling within New Zealand, or on +64 9 368 8557 if calling from outside of New Zealand (international toll charges apply).

Note: HSBC NZ does not provide tax advice. We recommend you obtain independent tax advice