Join now
Log in Join

HSBC US Expats Account Closure (New Delhi)

Are you effected by this:

HSBC Private Bank will cease offering wealth management services to US private clients who bank overseas. The move lends weight to warnings that the upcoming Foreign Account Tax Compliance Act (FATCA) could encourage financial institutions to turn away US customers.

" According to the Wall Street Journal, hundreds of accounts will be affected. The bank sent letters to US clients with HSBC India this month, the WSJ reported, giving them 30 days to close their accounts. "

If you need to seek an alternative then write back

To all other IN friends of other nationalities please pass this on to your US friends to read as it is important for them to have financial advice whilst offshore.

New Delhi Forum