HSBC is pulling out of Bank@Post and Post Billpay, with effect from 11 April. HSBC was the last foreign bank with a retail banking presence in Australia to participate in Australia Post’s flagship financial services offers. Altogether more than 80 banks and financial institutions participate in Bank@Post, a channel that handled more than 16 million transactions in FY2023 (and a rise of seven per cent over a year). While Post is unlikely to be bruised by the loss of HSBC’s custom it will be an irritant. Post is still smarting over ANZ’s decision to walk away from Bank@Post in 2019. Though Post has negotiated long-term partnerships with the other three major banks since then. HSBC will, in keeping with industry practice, also cease to offer chequebooks for most accounts from April.