Business

HSBC drops small business customers

HSBC Bank Canada is changing its focus to serve international firms. - HSBC
HSBC Bank Canada is changing its focus to serve international firms.
— image credit: HSBC

Some small business customers of HSBC Bank Canada are looking for new services, as HSBC sends out letters advising them their accounts will be closed in 60 days.

HSBC did not respond to a request for clarification of how many B.C. business are affected or what criteria are used to turn business customers away. Nigel Davis, head of business banking for HSBC Bank Canada, told the CBC in a statement last week that it is focusing its business banking services on firms that "are now or aspire to become international businesses, benefiting from our global footprint and connectivity."

Davis' name appears on letters notifying business customers they should withdraw all funds from their accounts within 60 days. Any funds still in the account at the stated deadline will be converted to bank drafts and mailed or couriered to the address on file with the bank.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Prince Rupert LNG plant, pipelines get B.C. certificates
 
B.C. government pitches LNG spinoffs
 
Businesses bracing for Black Friday
Surrey youth recognized
 
Santa parade to light up Cloverdale
 
Robbed Good Samaritan gets her gear replaced by Langley store
Homes: Christmas light options for your house
 
City recognized once again for Brownfield redevelopment strategy
 
Wildlife art exhibit at Open Road Infiniti this weekend

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 27 edition online now. Browse the archives.