Payment card recycling initiative launched for HSBC UK customers
Customers can securely shred expired or unused payment cards in specialist machines at selected branches.
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A new initiative to help recycle plastic payment cards belonging to HSBC UK customers has been introduced into selected branches.
Customers can securely shred their expired or unused payment cards, from any card issuer, in specialist machines at these branches, with the cards then being recycled into plastic pellets to be reused.
The pilot will initially last six months, before the bank decides on the next steps.
The bank has already been phasing out virgin PVC payment cards and introducing cards made from 85% recycled plastic, with an aim of converting all HSBC cards by 2026, as well as increasing the length of expiry dates on cards from three years to five years.
Payment cards are a complex mix of plastic, metal and a chip and could taint a batch of recycling, so providing this option in some of our branches provides customers with an important opportunity to recycle these securely and correctly
Jose Carvalho, head of wealth and personal banking at HSBC UK, said: “Working sustainably to reduce, reuse and remove plastic from our business is something we have been doing successfully for a while, and we are continuing to look at new and different ways we can make a difference, reducing the environmental impact of our operations along the way.”
He added: “Cutting up your cards and disposing of them at home in your recycling bin might not be advisable, as payment cards are a complex mix of plastic, metal and a chip and could taint a batch of recycling, so providing this option in some of our branches provides customers with an important opportunity to recycle these securely and correctly.
“This recycling pilot will provide us with some very important insight and will inform our longer-term plans.”
Ajay Bhalla, president of cyber and intelligence at Mastercard, said: “We know people want to make more eco-friendly choices.
“Together we are pursuing a more sustainable, more environmentally conscious future. So today, we are reinforcing our commitment.
“Starting with HSBC we are enabling banks to reduce the environmental impact of their operations – for the benefit of people and planet.”
The recycling units will be installed in eight branches across the UK – Liverpool Lord Street, Liverpool Allerton Road, London Canary Wharf, Leicester Clock Tower, York Parliament Street, Birmingham New Street, Birmingham Centenary Square and Milton Keynes Midsummer Place.