Regulatory Alerts2019-09-12
Added · Updated
Retrieval Period for e-Statements on e-Banking Channels
The Hong Kong Monetary Authority requires retail banks to extend the online retrieval period for e-Statements to a minimum of seven years. Banks must implement this change by the end of the first quarter of 2020 and provide the service free of charge to promote financial inclusion. Additionally, institutions must waive fees for at least six paper statement copies per year for requests falling outside the online retrieval window but within the seven-year period.
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