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The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme for customers of UK authorised financial services firms. This means it can step in to pay compensation if a firm is unable, or likely to be unable, to pay claims against it. Compensation can be in any form and by any method it determines is appropriate. [1]
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HSBC Holdings plc (Chinese: 滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.
In 2009, HSBC Finance Corporation announced the discontinuation of loan originations of all products by its Consumer Lending business, but continue to service and collect the existing receivable portfolio as it runs off, while continuing efforts to reach out and assist mortgage customers with their loan repayments and home preservation. [10]
The company was founded in 1985 as St Michael Financial Services as the financial services division of Marks & Spencer and adopted its current name in 2012. Initially focused on providing credit through in-house store cards, the bank now provides a range of products to personal customers including credit cards, loans, savings, insurance and ...
This came as a surprise after HSBC sold its branch network in Upstate New York in 2012 to First Niagara, KeyBank, Community Bank, N.A. and Five Star Bank. In January 2019, HSBC announced it would open two new branches in Western New York, as part of the bank’s initiative to open 50 branches in new and existing markets in the United States.
HSBC offers a wide range of bank accounts in Australia, including transaction and savings accounts, term deposits, and foreign currency accounts.. All of HSBC's transaction accounts include a linked Visa Debit card, fee-free access to over 3000 ATMs Australia-wide, which include those from HSBC and banks that offer access to fee-free ATMs, access to mobile and internet banking, and are rated 5 ...
Under the HSBC brand, the bank maintains a network of around 220 branches throughout Hong Kong, from which it offers a wide range of financial products and services. For some time in the late 1980s and early 1990s, the bank was known by the name HongkongBank in its native city, although it now trades as HSBC.