HSBC Bank closes Pelham branch; second bank to exit downtown in recent years


Packing crates sat in the former HSBC Bank earlier this month.

If you were planning to take a trip to the HSBC Bank on Fifth Avenue, you’ll be disappointed to find a sign up that says that all business in that branch terminated on March 30.

Matt Klein, head of communications for HSBC Bank USA’s private banking unit, said in an email, “Due to our customers’ preferences and behaviors changing, we are consolidating our branch presence. We continue to modernize existing branches to improve the customer experience and plan to open new locations.”

The announcement was made before the coronavirus pandemic hit. HSBC’s departure from Pelham’s downtown follows Capital One, which shuttered its branch several years ago. The Local Branch coworking and temp office business operates out of the Capital One space.

Trustco Bank on Fifth Avenue has been picking up some of HSBC’s customers, according to one source. However, Trustco branch workers and the corporate office declined to comment.

TD Bank and Chase Bank also operate branches in the Pelham downtown.