PAD accts using HSBC will fail - need to contact clients

CSD -13810 -HSBC Bank Account Assignments Associated with BC Registry customer

CAS has advised us that any of our BCROS accts where the client is using PAD and their bank is HSBC, the payments will fail as HSBC accts are being closed as HSBC was bought out by RBC in 2024. I have a list of our clients that need to be contacted.

Suggested wording for the email:
Dear [Client Name],

We are writing to let you know that you need to update your Pre-Authorized Debit (PAD) information for any future transactions you file.

Our records indicate that your current PAD agreement is linked to an HSBC account. Following HSBC’s recent market transition to RBC, these accounts are no longer active, which means future automatic withdrawals will fail, and you will incur an NSF fee.
To ensure your services continue without interruption, please update your banking details as soon as possible on your BCROS account.