HSBC announces further measures to support island personal customers

HSBC in the Channel Islands and Isle of Man has introduced a further package of services to help local personal customers manage their finances through the current challenging period.

Today we are announcing these new measures:

• Payment holidays for loans: a 3-month payment holiday, without impacting on credit rating, for those who have been impacted financially by COVID-19 and are worried about making payments.
• Payment holidays for credit cards: a 3-month payment holiday, without impacting on credit rating, for those who have been impacted financially by COVID-19 and are worried about making payments.
• Overdraft changes: increasing the interest-free buffer from £25 to £500.  

They complement other changes introduced for customers last week:

• Payment holidays for mortgages: a 3-month payment holiday, without impacting credit rating, for those who have been affected financially by COVID-19 and are worried about making mortgage payments.
• Cards: increased contactless limits from £30 to £45 from Wednesday 1 April, on both contactless enabled Credit and Debit cards.
• Access to fixed savings: removing the 90-days interest charge on Term Deposit accounts so customers can access funds without penalty.

These new services are in addition to a package of support launched by the Bank last month to help personal and business customers finding themselves in financial difficulty as a result of the coronavirus.

John Goddard, Head of Retail Banking in the Channel Islands and Isle of Man, HSBC, said:

“The effects of the coronavirus continue to be felt by our customers. In response, we have adapted many of our products and services to give our customers some extra help when they need it most. We’re constantly listening to people’s feedback, concerns and questions to explore other areas we can makes things better for customers during these difficult times.

“Our teams stand ready to help islanders. I would encourage customers to contact us if they are concerned about their finances so we can help find the most appropriate solution for their individual circumstances.”

Customers who wish to discuss their financial situation can visit the Help & Support section on the Bank’s website https://ciiom.hsbc.com, whilst more information about how the Bank is responding to the current pandemic, including the Banks’ current branch and contact centre opening hours, can be found via its dedicated Coronavirus Hub.

Pictured top: John Goddard