HSBC BANK SALE TO BLOM BANK FREQUENTLY ASKED QUESTIONS (FAQs)

Transcription

1 HSBC BANK SALE TO BLOM BANK FREQUENTLY ASKED QUESTIONS (FAQs) Sections Index: 1.0 General 2.0 Branches 3.0 ATMs 4.0 Contact Centre 5.0 Personal Internet Banking 6.0 Relationship Managers 7.0 Account servicing 8.0 Credit Cards 9.0 Products 10.0 Wealth Management 11.0 Complaints/Queries Issued by HSBC Bank Middle East Limited Lebanon Branch, PO Box Beirut, Lebanon, regulated by the Central Bank of Lebanon and lead regulated by the Dubai Financial Services Authority. Copyright. HSBC Bank Middle East Limited 2017 ALL RIGHTS RESERVED. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Bank Middle East Limited.

2 1.0 GENERAL I have received a letter saying that HSBC Bank Middle East Ltd Lebanon Branch (HSBC Lebanon) is being sold to BLOM Bank, what does this mean for me? HSBC Bank Middle East Ltd has entered into an agreement to sell its operations in Lebanon to BLOM Bank. After the close of Business on 16 June 2017 (Transfer Date), subject to any unforeseen events and pending final regulatory approvals, your relationship and banking arrangements will automatically move over to BLOM Bank from this date. Who are BLOM Bank? BLOM Bank is one of the leading Lebanese banks, which has repeatedly been selected as the Best Bank in Lebanon by the most recognised regional and international institutions. Its business operations are based on a universal banking model that includes: Commercial, Corporate, Private, Investment, Asset and Wealth Management, Retail, Islamic, Brokerage Services, and Insurance Products and Services. As one of the oldest established banks in Lebanon, BLOM Bank continues to be at the forefront of the country s banking system. What is the timetable of the sale? The sale transaction will be completed after close of business on 16 June This date is subject to final regulatory approval, and may change, in which case we will keep you informed. That action do I need to take? Your banking arrangements will automatically transfer to BLOM Bank after close of business on 16 June However, please refer to the systems and services stoppage table included in the FAQs below as some services and products will be temporarily stopped as we approach the 16 June 2017 Transfer Date. It is important that you familiarise yourself with this so that, if necessary, you can plan your banking needs accordingly. Also, some standing instructions may be paid early if these are currently due to be paid in the final days before the transfer is scheduled to take place. These will be paid no more than 3 days early, but you should ensure that there are sufficient funds in your account to cover any such transactions. How long will the transfer to BLOM Bank take? The transfer to BLOM Bank will take place after the close of business on 16 June Leading up to this time, a number of services and products will be temporarily stopped in order to facilitate a smooth transfer. We will ensure that we continue to provide customers with the highest level of customer service and cause minimal disruption. We will be providing all customers with further additional necessary information for their move to BLOM Bank in the coming weeks. What happens to my products and services going forward? All of your banking relationships and arrangements with HSBC Lebanon will automatically transfer to BLOM Bank after the Transfer Date. Ahead of 16 June 2017, we will temporarily stop some products and services to allow for a smooth transfer of your banking arrangements to BLOM Bank, and any non-hsbc proprietary services will be resumed by BLOM Bank from 19 June The key dates and associated products and services that will be stopped are set out in the table below. Please review this information carefully and make appropriate arrangements to avoid any potential disruption. What service disruption should you expect between now and 16 June 2017? The following products and services will temporarily stop by HSBC Lebanon: After 26 May 2017 After 9 June 2017 After 13 June 2017 Global View and Global Transfers service for Premier and Advance Customers (other personal internet banking transfers will continue) E-statement generation Standing Instructions set up via Global View and Global Transfers Emergency encashment facility for Premier and Advance customers Use of overseas HSBC branded ATMs by Lebanon customers will no longer be fee free International foreign cheque processing New account opening New product requests (excluding Term Deposit rollover) Account reactivation Account closure Setup of new Standing Instructions New cheque books New Credit/ATM Card issuance ATM and Credit Card PIN generation Transfers and payments through Personal Internet Banking Bill/Direct Debit payment Mobile Banking platform Local and international transfers and payments Cashier s Order issuance Demand Draft issuance Breaking of Term Deposits Use of Non-HSBC and Overseas ATM Machines Domestic cheque clearing (LBP, USD, EUR and GBP) Please carefully read the demise table above.

3 Who will my new contact at BLOM Bank be? For the time being all contact should continue with your HSBC executive/relationship manager or through your usual communications channels. You can expect to receive periodic communications from us during the coming weeks to ensure that you are kept fully informed of the process as it progresses and to ensure the smooth transition of your accounts to BLOM Bank. I don t want to bank with BLOM Bank what should I do? Please talk through your concerns with your current HSBC Relationship Manager. The transaction will result in the transfer all of your accounts, deposits, loans and security to BLOM Bank. 2.0 BRANCHES What will happen to branches after the Transfer Date? As part of the sale, all HSBC Lebanon branches will be transferred to BLOM Bank. You can therefore continue to visit any of the branches as normal both before and after the transfer to BLOM Bank. Can I use any of BLOM Bank s other branches after the Transfer Date? Customers wishing to visit other BLOM Bank branches will be able to use them from 19 June 2017; however, customers should continue to use their existing branch shortly after 16 June 2017 for continuity of service and their convenience. Will branch operating hours remain the same? Until 16 June 2017, all branches will continue to operate from Monday to Friday under the normal operating hours of 8:15 am - 2:00 pm, and on Saturday s from 8:15 am - 12:00 noon. From 19 June, branch operating hours will change to 8:15 am - 5:00 pm from Monday to Friday, and 8:15 am -12:30 pm on Saturday s. 3.0 ATMS Will I continue to use my HSBC ATM card? Yes, your HSBC ATM card will continue to work after the transfer and Transfer Date for 3 months to ensure minimal disruption to customers. BLOM Bank will replace your card with a BLOM Bank branded Debit card within 3 months from the Transfer Date.. What will happen to ATM services before the Transfer Date? Local ATMs: HSBC Lebanon customers will be unable to use non-hsbc ATMs from 13 June Customers can continue to use all HSBC ATMs in Lebanon until 16 June International ATMs: HSBC Lebanon customers using International ATMs after 26 May 2017 will no longer have fee free access, and standard service charges will apply. Will all ATM services be available until the Transfer Date? No, to ensure a smooth transfer, we will be stopping the issuance of new cards and PIN generation from 9 June We will also be restricting access to non-hsbc and overseas ATMs from 13 June so please ensure that to prepare accordingly ahead of this date to minimize any disruption to you. Any lost or stolen cards should continue to be reported to the call centre or the branch until operations cease. Will I be able to generate a PIN after the Transfer Date? You will not be able to request a new PIN for your HSBC ATM card after the Transfer Date and you will need to request a new card from BLOM Bank. 4.0 CONTACT CENTRE Can I speak to someone on the phone? You can continue to call the contact centre as usual until 16 June 2017 if you have further concerns or questions. Please dial the relevant contact centre number listed below: HSBC Premier (within Lebanon) or (outside Lebanon). HSBC Advance (within Lebanon) or (outside Lebanon). HSBC Personal Banking (within Lebanon) or (outside Lebanon).

4 5.0 PERSONAL INTERNET BANKING Will there be any changes to the Personal Internet Banking service? The Personal Internet Banking page will continue to be available until 16 June 2017, after which the service will be stopped. BLOM Bank offers customers an Internet Banking service, which you will be able to sign up for after the Transfer Date. Before the 16 June 2017, some of the services provided through the Personal Internet Banking service will be stopped. Please refer to the services and systems stoppage table in section 1 of this document for details. What will happen to the Global View Global Transfers (GVGT) service? The GVGT service (currently available to Premier and Advance customers only) will stop from 26 May If you have any Standing instructions set up through this service, please note that these will not be transferred to BLOM Bank, and you will need to make alternative arrangements. You can continue to use the service for any accounts you may hold outside of Lebanon with HSBC. Payments and transfers through standard Personal Internet Banking will continue until 9 June What will happen to e-statements? Customers will be able to request e-statements through Personal Internet Banking until 26 May After this date, customers will need to request paper statements from the branch. What about payments and transfer services? Customers will be able to make payments and transfers through the Personal Internet Banking service until 9 June 2017, after which this facility will be stopped. Please ensure that you make any necessary payments or transfers before this date due to the expected large volume of customer requests during the transfer period. What will happen to any Bill Payments/Direct Debits before the Transfer Date? Any Bill Payments or Direct Debits due between 9 June 2017 and 16 June 2017 will be processed by BLOM Bank after the Transfer Date. 6.0 PROPOSITIONS AND RELATIONSHIP MANAGERS I am a Premier/Advance customer, can I still speak to a Relationship Manager? If you have any questions or concerns, you will still be able to speak to your Relationship Manager as usual. Will my Relationship Manager stay the same with BLOM Bank? There will be no immediate changes after the Transfer Date, and you can continue to contact your Relationship Manager as normal until further notice. I am a Premier Customer with HSBC, what will happen to my Premier Status? You will be notified at a later date to explain how your current Premier status in HSBC Lebanon will translate in terms of the account options at BLOM Bank. In order to maintain a Premier Status with HSBC you will be required to maintain Premier Status in another HSBC geography. Please see the HSBC website in your alternative country of choice for further information on Premier eligibility. If you fail to meet the Premier criteria in another country in which you hold HSBC accounts after your HSBC Lebanon account transfers to BLOM Bank, then your other HSBC accounts will be downgraded. I am an Advance Customer with HSBC, what will happen to my Advance Status? You will be notified at a later date to explain how your current Advance status in HSBC Lebanon will translate in terms of the account options at BLOM Bank. I am a Premier/Advance customer, what will happen to the emergency encashment service? The emergency encashment service will be stopped after 26 May 2017 for HSBC Lebanon Premier Customers. Please take this into consideration if you have any travel plans during this stoppage period and plan accordingly.

5 7.0 ACCOUNT SERVICING What will happen to my current/savings account? There will be no immediate changes to any current/savings accounts that you hold after the Transfer Date other than the transfer to BLOM Bank. The account opening service will be stopped after 9 June 2017, and if you wish to open an additional account, you can do so ahead of this time or after the Transfer Date, but through BLOM Bank. Will my account number and IBAN remain the same? Your account number and IBAN will change after the transfer to BLOM Bank. You will be notified separately of your new account details by BLOM Bank. My salary comes into my HSBC Account - will I have to advise my employer of a change in account number? Your account number will change after the transfer and you will therefore need to advise your employer of your new account number, which will be provided to you separately before the Transfer Date. I have not used my account in a long time, how do I reactivate it? If you have not used your account in the last 6 months, you will need to visit an HSBC branch and reactivate it. The account reactivation service will be stopped after 9 June 2017, so please visit a branch ahead of this date with proof of identification and address in order to reactivate your account. I do not wish to transfer my account to BLOM Bank, what action can I take? If you do not wish to transfer your account to BLOM Bank, you will need to visit an HSBC branch to close your account/s and any outstanding liabilities. The account closure service will be stopped after 9 June 2017, so please visit a branch ahead of this date as otherwise your account/s and product/s will automatically transfer over to BLOM Bank. What will happen to Post Dated Cheques I have outstanding? (E.g. for rent/school fees) Your HSBC post dated cheques will continue to be processed by BLOM Bank (provided they are signed and presented in accordance with applicable laws). After the Transfer Date, BLOM Bank will issue you with new account tools including cheque books. What will happen to Stop Cheque requests? Stop cheque requests will be processed until 13 June CREDIT CARDS What happens to my HSBC Credit Card? Will I be able to continue using it? Yes, your HSBC credit card will continue to work after the Transfer Date to ensure minimal disruption to customers. BLOM Bank will replace your card with a BLOM Bank branded credit card within 3 months from the Transfer Date. What happens to my card statement and settlement of charges? In June 2017, your last card statement will be issued on the 10th June, and any minimum payments will be collected on the 10th July Late fees and charges for your June 2017 statement will be applied after 10th July Your next credit card statement after the Transfer date will be on 25th July 2017, with the payment date remaining on the 10th of each month with BLOM Bank. What happens if my card is lost/stolen? If your credit card is lost/stolen before the Transfer Date, you should call the contact centre as usual, and we will issue a replacement card until 9 June After this date, we will send all new card requests to BLOM Bank, and you will be provided with a replacement credit card after the Transfer Date. What if I need to request a new PIN for my Credit Card? Customers can continue to request a new PIN until 9 June 2017, after which the service will be stopped. After the Transfer Date, you will need to request a new credit card from BLOM Bank. What will happen to the Air Miles collected on my HSBC Credit Card? You can continue to redeem Air Miles as usual directly from the Air Miles site or through the Air Mile contact centre. All Air Miles collected before the Transfer Date will be valid for 3 years from date of earning. After the Transfer Date, you will no longer be able to earn miles on your HSBC credit card, and BLOM Bank will provide you with further updates on their rewards program. You can continue to access the Airmiles website: What will happen to the Entertainer App? The Entertainer App will no longer work after the Transfer Date. BLOM Bank will be notifying you shortly of the various benefits available through their cards offering.

6 9.0 PRODUCTS What will happen to my Mortgage/Personal Loan/Overdraft? All products you currently hold will continue with no immediate changes. Payments should continue to be made as per the usual process. Will the pricing (tariff, interest rate, tenure) change now on any of my existing products? There will be no immediate changes to pricing. Can I apply for further products now? You can continue to apply for new products with HSBC until 9 June 2017, after which no further products will be issued until after the transfer to BLOM Bank. After the transfer, you can apply for BLOM Bank products through BLOM Bank s usual processes and subject to their lending policy. You will be able to visit the same branches from 19 June 2017 to obtain details. Can I continue to make Transfers to my accounts/third party accounts? You can continue to make transfers both locally and internationally at the branch until 13 June 2017, and on Personal Internet Banking until 9 June After this date, all transfer services will be stopped until after the Transfer Date. If you wish to submit a request to transfer or make a payment after 13 June 2017, this will only be actioned after the Transfer Date, and the value date applied will be on the date of execution (which will be on or after the Transfer Date) and not the date that the form is completed. The GVGT service for Premier and Advance customers will stop from 26 May What will happen to my term deposit? If you currently hold a term deposit, this will continue as usual until maturity, even after the Transfer Date. You will not need to take any actions if you have an auto-rollover facility, these instructions will remain in place. You can continue to apply for a new term deposit with HSBC until 9 June 2017, after which this service will be stopped. I have a Term Deposit on auto-rollover, do I need to do anything to continue rolling it over? No, all term deposits on auto-rollover will continue after the Transfer Date. I have a maturing term deposit, or a Term Deposit I do not want to rollover, what actions do I need to take? Term Deposits reaching maturity will continue to be processed until 13 June 2017, and this date any maturity instructions must be provided to BLOM Bank from 19 June I have an Insurance policy, what does this mean for me? Credit Shield coverage on Credit Cards will demise after 16 June All other Insurance policies, where your premium is paid through HSBC will transfer across as is, so there will be no actions required from you WEALTH MANAGEMENT AND INVESTMENT PRODUCTS What will happen to my wealth investments? Customers holding any Wealth or Investment products will receive a separate notification of their servicing arrangements after 16 June COMPLAINTS/QUERIES How can I raise a complaint or have my queries addressed? You can continue to raise any complaints or queries through the contact centre, the branch or your Relationship Manager. We will continue to address these as within our currently stated time frames, and any unresolved issues will be passed on to BLOM Bank to be resolved after the Transfer Date. Issued by HSBC Bank Middle East Limited Lebanon Branch, PO Box Beirut, Lebanon, regulated by the Central Bank of Lebanon and lead regulated by the Dubai Financial Services Authority. Copyright. HSBC Bank Middle East Limited 2017 ALL RIGHTS RESERVED. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Bank Middle East Limited.