With HSBC more or less closing most of it’s accounts, I find myself in need of another bank with branches in the US and EU. I have been looking at Citibank. Any recommendations?
Are you concerned about there being ANY presence in the US or just A presence in the US? HSBC isn’t leaving the US entirely, after all.
True. They are selling off most of their accounts, though, and focusing only premier members. They are not taking any new premier accounts. What I am looking for is a bank that I can use both in the US and EU.
Oh, they’re not taking new Premier accounts? That’s curious. I understand it, I guess.
Citigroup is probably the next best option, in terms of “places I see that have branches in the EU”. I’m guessing you need some sort of premier membership to work with them usefully. I can’t think of anyone else - I know Chase does something but it’s not like I wander around the EU seeing Chase branches.
That was my one of my reasons for going HSBC, too…
Can you explain what you mean with “use both in the US and EU” ?
And about Citybank… I know they are closing their branches in most Asian countries now. Don’t know about the EU, but it doesn’t seem like a stable sustainable option to me.
I have been happy myself with online banks. Even in my home country I only have an account with an online bank. Never felt the need to visit a branch. With Wise I have a lot of bank account numbers in many different countries. More than I ever had before. I also have N26, Revolut, Bunq. This combination is already more than I need, together with a brokerage account to save my money.
The only thing missing in the above combination is a branch to deposit bags of cash. But since I got out of the drug trade, that’s no longer necessary.
Exactly that. I as an HSBC customer get to walk into any branch of the world and be treated as a full-on customer. Full faith and credit if you will. Right to ancillary services the branch might provide. HSBC has its own sort of internal “credit score” and will extend mortgages to customers from other countries based on their relationship in the home country. That kind of thing.
There’s nothing wrong with digital banking. It works for many, clearly. Some will argue having a real bank isn’t worth it, and for many/most it isn’t, but it is for some. Personally I find myself willing to trust a Revolt or N26 only about so far because they aren’t really actually banks, they’re purveyors of banking services, which isn’t really the same thing. But I certainly also view that as a personal choice. And clearly it’s not a popular one. And the concept of the global bank I don’t ever think has been all that popular. There was a period when it was the in thing for the majors to spread the brand across many countries, but it’s been in retreat since.
I understand what you mean. I can talk about NL, where I come from. Banks cancelled almost all their local offices. They force people to do their banking online. That is good enough for 99% of the people. Targetting the majority in the most cost effective way is most profitable for banks.
The idea that you have a local bank where they know your face and where you can just walk in to receive personal service is really something from the past. I am a bit older and I remember the time where I could just walk into the local bank to withdraw money without showing a bank card or passport. They knew me, they knew my parents, no reason for identification. But this is a long time ago, before they invented ATM’s.
What you are looking for on a world scale isn’t even available for Dutch citizenes in their own country. And I see similar things in other European countris.