Coronavirus support for HSBC customers

Monday 16 March 2020

HSBC in Guernsey has announced a package of support for island customers as they tackle the financial impact of Covid-19.

For personal customers in financial difficulty as a result of the Coronavirus, the bank says it isable to support their finances in a number of ways which may include:

• Short term support through extending the remaining term of their mortgage, switching rates or switching part or all to interest-only mortgage arrangements.
• Giving customers early access to fixed rate savings accounts without closure charges.
• Support for customers with unsecured debt through reduced payments or breathing space to defer payments due; these solutions are tailored to individual customer need.

Customers who wish to discuss their financial situation are asked to visit the Help & support section on the HSBC website.

For business customers, HSBC has: 

• asked relationship managers to proactively contact customers to see what help their businesses need. 
• launched a helpline to support any customer queries (08000 121 614, open 9am – 5pm Monday to Friday). 

In addition, HSBC says it will also consider:

• Offering repayment holidays to free up cash within businesses.
• Reviewing overdrafts or working capital loans to allow stock to be held for longer.        
• Providing trade finance solutions to support customers with their supply chains. 

Sue Fox, CEO, HSBC Channels Islands and Isle of Man, said: “As an island bank, our purpose is to help the island thrive. At this time our role is more important than ever. We understand that the finances of some island customers may be affected by Covid-19 so we have a range of support measures and our teams stand ready to help customers through these uncertain times.

“We encourage our personal and business customers to contact us if they are concerned about their finances so we can help find the most appropriate solution for their individual circumstances.”