No Stamps, No Envelopes, Now No Fee!
HSBC to eliminate charges for its Personal Internet Banking Bill Pay service.
4 September 2003
HSBC Bank USA today announced that, effective September 14, 2003, it will make its Personal Internet Banking Bill Pay service free for all customers.
The Bill Pay service, which is available 24 hours a day, allows customers to pay virtually all their bills and make payments to anyone in the United States - all online, without checks, stamps or trips to the post office.
Bill Pay customers who did not have a qualifying HSBC relationship had previously been paying $5.95 per month for the service. Customers will see this change reflected in their October checking account statement.
"Bill Pay is an extremely popular service and we wanted to remove any barriers to having customers and potential customers use it," said John Camp, Senior Vice President and Manager of Personal e-Business. "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 Internet Banking service in April 2000 and currently has nearly 500,000 Personal Internet Banking customers.