No provision for beneficiary at HSBC

Question

Background: My wife and I live in California (if that matters) and have a living trust.

My wife and I recently opened an online savings account at HSBC. APY is 2.01 which was the motivation.

HSBC has no provision to establish a beneficiary. I have reached out to them twice.

What happens if my wife and I die?

Thanks in advance!

Richard · Answer

My wife and I encountered nearly the same problem. We recently opened an HSBC Direct Savings account online. After multiple phone calls I was informed that there was no way to assign beneficiaries to my account online, by phone or even through the mail. The only way was to do it at one of their full service branches. Unfortunately, the closest HSBC branch to me is 5 hours away.

Answered by Richard on January 8, 2021

No provision for beneficiary at HSBC

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