Keeping your HSBC relationship active
To help keep you safe, we regularly monitor customer relationships and apply consistent treatment when there’s been no customer transactions for a period of time. This helps protect you and reduces the risk of fraud and unauthorised use.
What we mean by active and inactive
We determine your status based on customer‑initiated transactions such as withdrawals, cash deposits, transfers and debit card transactions on your relevant non‑investment accounts or products.
- Active: you’ve made at least 1 transaction in the last 12 months, and your accounts or products aren’t restricted or blocked
- Inactive: you’ve made no transactions for a continuous period of 12 months
Important:
Investment products or investment transactions don’t affect this status. We assess status using non‑investment accounts or products only.
Bank‑initiated entries, for example, interest credits, fees or charges, don’t count as customer‑initiated transactions for this purpose.
What's the difference between inactive, dormant and unclaimed?
If you haven’t made any transactions for a while, we may class your account or relationship as inactive, dormant or unclaimed. This may mean you can’t transact until you reactivate the account, but you can still reclaim your funds.
- Inactive: after 12 months of no transactions, your account becomes inactive. If this is your only account we’ll contact you to let you know your relationship is inactive and explain how to keep it active
- Dormant: after 2 years of no transactions, your account becomes dormant and may be restricted to reduce fraud risk
- Unclaimed: after 3 years of no transactions, your account may be treated as unclaimed and will remain subject to restrictions until it’s reactivated or closed and funds are returned
How we assess your status if you have more than one account
We look across your relevant non‑investment accounts or products together as part of your overall customer relationship:
- Your customer relationship is active if at least 1 relevant account or product is active
- Your customer relationship is inactive if none of your accounts are active. After 12 months of inactivity we’ll contact you to let you know your relationship is inactive and explain how to keep it active
- Your relationship may be treated as dormant or unclaimed if all relevant accounts or products meet the dormancy or unclaimed criteria above
Reactivating an inactive account
There are two ways to reactivate your account:
In branch
Make a deposit or withdrawal from your account at one of our branches (you'll need to show valid ID).
Use your debit card
Use your debit card to make a purchase or to make a deposit or withdrawal at an HSBC ATM.
Reactivating a dormant or unclaimed account
You can reactivate your account in either of these ways:
In branch
You'll need to complete an account reactivation form and provide:
- Valid photo ID - passport, or Bermudian citizens can use driver's license, voter's card, ID card or Special Person's Card
- Proof of address
- Individual self-certification form
- Acceptable tie to Bermuda (for non-Bermudians) - for example, work permit/letter from employer, certificate of naturalization, permanent residency certificate, proof of property ownership or proof of marriage to a Bermudian
In writing
You can reactivate your account by writing to us at:
Middle Office HV3, HSBC Bank Bermuda, 37 Front Street, Hamilton, HM11 Bermuda
You'll need to include:
- An original signed letter of instruction which should state the account number(s)
- Valid certified photo ID
- Certified copy of proof of address
- Completed CRS individual self-certification form
- Acceptable tie to Bermuda (for non-Bermudians) - for example, work permit/letter from employer, certificate of naturalization, permanent residency certificate, proof of property ownership or proof of marriage to a Bermudian
Why we ask for this information
Before we can reactivate a dormant or unclaimed account, we may need to confirm your details are up to date. This supports our commitment to prevent fraud and financial crime and helps us detect and deter fraudulent transactions, money laundering and tax evasion.
Closing an inactive, dormant or unclaimed account and reclaiming funds
If you no longer need your account, you can close it in either of these ways.
In branch
You can complete an account closure form at any of our branches (you'll need to bring valid ID with you).
If there are any funds in the account, you'll also need to tell us where you'd like to move them to, so make sure you have the relevant transfer details with you.
In writing
You can close your account by writing to us at:
Middle Office HV3, HSBC Bank Bermuda, 37 Front Street, Hamilton, HM11 Bermuda
You'll need to include:
- An original signed letter of instruction which should state the account number(s) and confirming where any remaining balance should be transferred
- Valid certified copy of ID
If there are any funds in the account, you'll also need to tell us where you'd like to move them to, so make sure you include all the relevant transfer details.