Paper-free HSBC sees the good for the trees
High street bank HSBC, a big provider of UK current accounts, has reached a major milestone in its campaign to cut down on wasting paper, with over a million mortgage customers and current and savings account holders turning away from paper statements.
By doing this, customers are helping to plant 20,000 trees in the UK as part of the HSBC Virtual Forest programme – a £100,000 sponsorship scheme of Trees for Cities, an independent charity.
Customers who have opted for HSBC’s Internet banking UK service – called Personal Internet Banking – can choose to stop receiving a variety of paper statements and the one million that have already done so are saving more than 13 million pieces of paper and seven million envelopes in a single year.
During the coming year, each time an account switches off paper, HSBC will “plant” one tree in an online Virtual Forest. For every 20 virtual trees planted in the Virtual Forest the bank will plant one real tree with Trees for Cities in locations in London, Leeds, Manchester, Bristol and the Midlands.
Joe Garner, general manager of personal financial services at HSBC, said: “We have been offering customers the opportunity to turn off their paper statements for three years. We are delighted with the response so far and to have passed the milestone of one million accounts.
“This year we are hoping to do even more.”