As part of HSBC Bank Canada’s month-long green campaign, it will offer Fee Free Checking to encourages customers to minimize paper use by banking electronically. Bank customers can save an average of $143 per year by opting to use direct payroll services, online bill payments and monthly ‘eStatements.’
In addition, HSBC also launched HSBC Global Climate Change Fund for investors focused on companies helping to find solutions to environmental issues. A special auto loan interest rate is also being offered for buyers of selected low-emission vehicles.
As an additional incentive for customers to purchase ‘green’ products, HSBC Bank Canada said it will make a donation for each new account to two not-for-profit organizations which are working to raise awareness of environmental issues– Evergreen and Clean Air Champions.
In a June report by Javelin Strategy & Research, the study found customers are more loyal to green banks by a 6-to-1 margin.
HSBC launched a similar green online bill paying campaign in the U.S. last year.