Monday Apr 27, 2026
Monday Apr 27, 2026
Monday, 27 April 2026 00:02 - - {{hitsCtrl.values.hits}}
HSBC has formally notified customers that its retail banking operations in Sri Lanka will transfer to Nations Trust Bank PLC from 1 May 2026, with services set to resume only from midday 2 May following a system migration blackout.
The transfer of accounts, credit cards and retail loan portfolios form the final phase of HSBC’s exit from the country’s consumer banking segment, following the Rs. 18 billion sale agreed in September 2025.
HSBC said it will suspend account openings, transactions and the setup, amendment and cancellation of standing orders by 24 April. On 24 April, HSBC will also suspend payments through third-party channels (Keells, Cargills, Singer), credit card closures, loan settlements and loan balance confirmations. The bank will suspend interbank transfers, outward and inward telegraphic transfers, cheque deposits and secure message services via internet and mobile banking on 28 April 2026.
HSBC urged its customers to prepare ahead to ensure a seamless transition by completing any pending transactions before the relevant cut-off dates, making arrangements for cash withdrawals prior to 3 p.m. on 30 April, and planning for upcoming payments during the service interruption period. Customers are encouraged to update their salary credit instructions as their account numbers will change, review and update standing instructions (SIs) and recurring payments, and inform relevant parties of any changes to account details.
NTB has also reached out to HSBC retail banking customers with details on what happens next and key dates related to the transition.
The bank outlined a phased shutdown of services ahead of the transition. Branches, cash deposit machines and ATM access will cease from 3 p.m. on 30 April, while debit and credit card usage, along with online and mobile banking, will remain available until 7 p.m. the same day.
From that point, customers will have no access to banking services as systems are migrated, with access expected to resume only from midday on 2 May once NTB platforms go live. Both banks have advised customers to plan payments and cash requirements in advance.
Customers will receive welcome packs from NTB ahead of the transition, including new account numbers, debit and credit cards, cheque books where applicable, and instructions for digital banking access. These will become active only after migration is completed.
Existing fixed deposit rates and loan terms will remain unchanged until the end of their contractual periods, after which interest rates will be aligned with NTB’s internal policies and prevailing market conditions. From 1 May, NTB’s tariff structures will apply to other banking products.
HSBC credit cardholders will be issued replacement NTB Mastercard products, while existing HSBC cheque books will become invalid after the transfer. Cheques issued prior to the transition will continue to be honoured for up to two months, subject to available funds in the corresponding NTB accounts.
Customers with existing mandates, including powers of attorney and account nominations, will be required to submit fresh documentation under NTB following the transfer.
HSBC said its branches will begin operating as NTB outlets from the first working day after the transition, with the exception of the Head Office branch, which will continue as a corporate banking centre, as the bank completes its withdrawal from retail banking in Sri Lanka.
