HSBC Bank USA is dropping all charges for its Internet banking bill payment service effective today.
Bill Pay customers who did not have a qualifying HSBC relationship had previously been paying $5.95 per month for the service.
John Camp, SVP and manager of personal e-business, comments: "We believe that free Bill Pay offers HSBC a competitive advantage in attracting new customers to the bank as well as providing another value-added service to our existing customers."
HSBC introduced its Web banking service in April 2000 and currently has nearly 500,000 personal Internet banking customers.