HSBC in Springville will become Community Bank
The HSBC branch at 24 North Buffalo St. will close as an HSBC bank on Friday, July 20 and will remain shuttered until it re-opens as a Community Bank branch on Monday, July 23.
“Some people seemed to think that the bank was going to convert from an HSBC to a First Niagara to a Community Bank, but that’s not the case,” Wentworth clarified. “It’ll close as an HSBC and, on Monday, it’ll be a Community branch.”
Wentworth explained that current HSBC customers will receive correspondence from that bank in the beginning of June, which will explain the change. They will also be sent a “welcome package” from Community Bank in the middle of June to explain the logistics of the change and what that bank has to offer to its new customers.
He noted that there is “really not much” that customers have to do in order to prepare for the changeover, since loans and deposit accounts, online banking and direct deposits should all automatically convert to the new holder. New checks will arrive in the mail a week after the change, although HSBC will continue to honor the old checks for up to 90 days after the conversion. Wentworth also advised customers to use their new Community Bank debit cards as soon as they arrive.
With regard to whether or not an HSBC account holder’s banking will convert to Community Bank, Wentworth said it depends on where the account was opened.
“HSBC does customer housing loosely based on where the account was opened,” he said. “There will be correspondence with those customers whose accounts will not change automatically about how to handle the logistics of that.”
Wentworth was unable to comment on whether the HSBC branch on North Buffalo Street will remain a personal banking location, although it will open that way on July 23.
“Some consolidation opportunities in various communities are still under review,” he said. “But final branch decisions have not been made at this time.”
A representative from the Springville branch of HSBC bank declined to comment on the acquisition.