What is the Paper Statement Fee? Which accounts / customers will be charged for receiving paper statements?
Commercial banking customers, who continue to receive paper statements for the following account types, will be subjected to a fee of HK$20 per each (set of) paper statement delivered:
- HSBC Business Direct
- HSBC Sprint Account
- Hong Kong Dollar Current and Foreign Currency Current account(s)
- Hong Kong Dollar Statement Savings account(s)
- CombiNations Statement Savings account(s)
Why does HSBC impose a Paper Statement Fee on commercial customers?
Every year, HSBC issues approximately 2.4 million paper statements1 to our commercial banking customers, which amount to cutting down around 300 trees2. We are committed to protecting the environment and contributing to the sustainable development of Hong Kong by further reducing paper consumption. Today, 60% of our commercial banking customers prefer eStatements and eAdvice to paper for their everyday banking. It is free, plus it is faster, more secure and convenient to manage banking statements digitally in your business environment. The charging of a Paper Statement Fee is based on the "Pay the Paper" principle, which aims to encourage company customers' adoption of eStatement and eAdvice.
Note : 1Projected number is based on the October 2014 statistics that scoped paper statements sent for Business Integrated Accounts, current accounts and statement saving accounts. 2It is assumed that one tree that is 12.192m tall and 15.24-20.32cm in diameter accounts for 7,560 pieces of A4 paper.
How much is the Paper Statement Fee?
The Paper Statement Fee for commercial banking customers is HK$20 per each (set of) paper statement for the relevant accounts (or equivalent amount for foreign currency account).
My company needs paper statements for daily operation / audit purposes. How can I avoid the Paper Statement Service Fee?
Your company can avoid the Paper Statement Fee by simply registering for the eStatement service that will suppress the issuing of paper statements. HSBC eStatement is free and offers many other benefits:
- It is presented in the exact format and has the same recognition as the paper statements sent by post;
- You can access the statements faster;
- You can print out your statements only when you need them to meet your operation needs; and
- Our Business Internet Banking can help you store your statements up to 24 months for easy management.
Please click here to learn more about the features and benefits of the eStatement and eAdvice service.
How to register for eStatement and eAdvice Services?
It is simple to self-register for the eStatement and eAdvice service
a. Via Business Internet Banking
- Logon to HSBC Business Internet Banking
- On the Admin Tools page, click "eStatement and eAdvice"
- Choose a company to view the accounts
- Select the delivery method “View online” and/or “Received email copy” for your statement and advice of each account
b. Download and complete the "Direct Advice / eStatement / eAdvice Registration Form (For Business Account)" from HSBC Public Website > Commercial > Form Download Centre > Other Forms; then submit it to HSBC branches or mail it to HSBC.
If I register for the eStatement service now, when will I start to receive an eStatement?
The eStatement registration will be effective immediately, and you will receive your eStatement in the next statement cycle.
What will the collected Paper Statement Fee be used for?
The charging of a Paper Statement Fee is based on the "Pay the Paper" principle, which aims to encourage customers' adoption of eStatement and eAdvice. The collected Paper Statement Fee will be used for investment to enhance our internet banking platform, which will further enrich our eStatement and eAdvice service. It will also cover the costs of providing the paper statement service by the Bank.