23 July 2016
Find out more

HSBC to plant trees for customers who switch off paper statements

03 April 2007  |  10062 views  |  0 HSBC to plant trees for customers who switch off paper statements

Customers of HSBC and first direct who choose not to receive paper bank statements will be helping to plant more than 20,000 trees as part of a new programme to cut back on paper usage, known as the Virtual Forest.

The Virtual Forest is a £112,500 co-sponsorship of Trees for Cities, an independent charity that works with local communities on tree planting projects, community education and training initiatives in urban areas.

All first direct customers and HSBC customers who have registered for Personal Internet Banking can elect to stop receiving their monthly current account statements through the post. HSBC customers can also turn off their quarterly savings account and twice-yearly mortgage account statements and view them online instead.

Every time a customer switches off paper, HSBC and first direct will plant one tree in the online Virtual Forest. For every 20 virtual trees, Trees for Cities will plant one real tree in locations in London, Leeds, Manchester, Bristol or the Midlands. The programme will plant up to 22,500 trees in total.

The bank says more than one million customers have already stopped receiving statements and are saving more than 13 million pieces of paper and about seven million envelopes each year.

Joe Garner, general manager of personal financial services, for HSBC and first direct said: "We have been offering customers the opportunity to turn off their paper statements for three years. This year we are increasing our drive to cut down on paper use through programmes such as Trees for Cities and other initiatives, such as a 50p donation to the WWF for the first 100,000 customers who registered for HSBC internet banking during our HSBC Green Sale in January."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

FSA warms to climate change risk

FSA warms to climate change risk

31 January 2007  |  10906 views  |  0 comments
Hbos sends customer 75,000 statements

Hbos sends customer 75,000 statements

29 January 2007  |  10244 views  |  0 comments
Lloyds TSB introduces e-statement service

Lloyds TSB introduces e-statement service

26 April 2005  |  7435 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit www.abe-eba.euFind out more

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7742 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7652 views 0 | 14 tweets | 8 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7477 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7325 views comments | 16 tweets | 16 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7321 views 3 | 19 tweets | 6 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job