What to do when a HSBC account holder dies

Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. 1701j-3), HSBC cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Heirs should call Mortgage Customer Service at 1-855-527-8400 or the bereavement line at 1-888-662-4722 to begin the Successor in Interest process. Continue making monthly mortgage payments during the review process.

In February 2022, HSBC USA sold approximately 80 East Coast branches (and the West Coast retail customer base) to Citizens Financial Group. Accounts at those branches were migrated to Citizens at the time of the sale. If your parent's account became a Citizens account, the death claim is handled by Citizens Bank, not HSBC -- call Citizens at 1-800-922-9999 and provide the certified death certificate. HSBC USA only handles claims on accounts that remained with HSBC after the divestiture (primarily Premier and Private Bank relationships).

HSBC Premier offers global account view, but each HSBC entity (HSBC USA, HSBC UK, HSBC Hong Kong, etc.) is a separately chartered bank with its own bereavement process. The U.S. Premier relationship does not give the U.S. executor direct access to funds held at another HSBC entity. The personal representative must file a death claim with each HSBC entity that held assets, presenting that jurisdiction's accepted form of death certificate and appointment documents (an apostille or consular certification is typically required). Cross-border estates may also need IRS Form 5173 transfer certificates for non-resident decedents with U.S.-situs assets. Start with the U.S. Premier bereavement line at 1-888-662-4722; they can confirm what is held at HSBC USA and refer you to the right contact at the foreign entity.