Knowing Your Banks: HSBC Bank Canada

With the “Big Six“ out of the way, it is time to speak about many of the other great banks that are in Canada. What will be spoken about today is the HSBC Bank Canada.

The Hongkong and Shanghai Banking Corporation (HSBC) is one of the largest banking groups in the world and HSBC Canada is one of its subsidiaries and is the seventh largest bank in Canada. There are offices located in every province with the exception of Prince Edward Island, giving a total of 6,000 employees.

Corporate headquarters are in the financial district of Vancouver, British Columbia.

HSBC Canada was formerly known as Hongkong Bank of Canada until June 21st 1999 when its name was changed due to HSBC Group`s strategy of creating a global brand.

The birth of Hongkong Bank of Canada occurred when HSBC bought a Vancouver based Acceptance Company that financed machinery and equipment for small companies in 1979.

In 1981 HSBC incorporated Hongkong Bank of Canada (HBC) as a chartered bank under the Bank Act of Canada.

HSBC Bank Canada has a strong presence in overseas Chinese communities, especially in Vancouver and Toronto.

The divisions of HSBC Bank Canada include HSBC Investments, HSBC Capital, HSBC Trust Company, HSBC Securities – this includes a discount brokerage division called HSBC InvestDirect and HSBC Insurance Agency.

HSBC Canada is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC).

HSBC Canada is also a member of Interac, MasterCard, Cirrus Network, The Exchange, and BMO Bank of Montreal.

Being part of the BMO Bank of Montreal, it allows HSBC cardholders not to pay ATM usage fees at BMO locations.

HSBC Bank Canada offers great services for both personal and business purposes. If you every find yourself wanting more from a bank, you might want to consider HSBC Bank Canada as an option.

Continuing Series:

Knowing Your Banks: Royal Bank of Canada

Knowing Your Banks: Toronto-Dominion Bank

Knowing Your Banks: Bank of Nova Scotia

Knowing Your Banks: Bank of Montreal

Knowing Your Banks: Canadian Imperial Bank of Commerce

Knowing Your Banks: National Bank of Canada

Knowing Your Banks: Citizens Bank of Canada

Knowing Your Banks: Canadian Western Bank

Knowing Your Banks: “The Big Six”