Hongkongers could get HK$10,000 handout earlier than expected as millions apply through online banking
- Government’s cash payout scheme, which opened for applications on June 21, received more than 5.5 million registrations by 5pm on Thursday
- Finance chief Paul Chan says the scheme has been running smoothly over the past two weeks
Millions of Hongkongers could get their HK$10,000 (US$1,290) cash handout two days earlier than expected after more than 70 per cent of the city’s population registered for the sweetener.
The government’s cash payout scheme, which opened for applications on June 21, received more than 5.5 million registrations by 5pm on Thursday, with 85 per cent made online through banks.
Of the roughly 4.7 million electronic applications made through banks, 64 per cent were registered by internet banking services and the rest were from banks’ websites.
“This helps banks save parts of their procedures to verify [the identities] of their clients and receive the registrations in a swifter manner,” Chan said.
“So, around 4.3 million eligible people who completed online registration through banks between June 21 and June 30 will be able to receive the payment to their designated personal banking account earlier within two or three days from July 6.”
The government was initially expected to start dishing out the money from July 8.
The handout, available to all Hong Kong permanent residents aged 18 or above, is part of a host of relief measures announced by Chan in his 2020-21 budget address in February. Those eligible can register electronically or fill out a paper form to receive the handout, either via direct deposit through participating banks or by cheque from a post office.
HSBC said nearly 2 million customers who signed up for the scheme through the bank were expected to receive the money as early as Monday. It said the first batch of successful applicants, who submitted the registration through online or mobile banking on or before June 30, would receive the money through their registered bank account.
It said that when the payment was completed, customers would receive an SMS alert on the mobile number they registered or a notification letter if they had no valid mobile number.
For those who submitted through the HSBC public website or paper application at branches, the money would be available in batches starting from July 20.
Peter Shiu Ka-fai, a lawmaker representing the wholesale and retail sectors, said many retailers at shopping malls had already rolled out discounts to attract customers.
“Various sectors are well-prepared to give benefits to residents and encourage people to spend money,” Shiu said. “Coupled with the discounts offered by the food sector, we hope to make consumer sentiment in Hong Kong more robust.”
He said he hoped an uptick in economic activity could help save companies and safeguard jobs.
On Thursday, East Point City in Tseung Kwan O promoted a shopping scheme related to the cash handout, offering cash vouchers to members who spent a designated amount in a single day.
Hong Kong Disneyland Resort also rolled out more special packages. From Thursday to August 31, local residents can buy two one-day park tickets and receive an extra one-day ticket for free. A standard one-day ticket costs HK$639 for those aged 12 to 64.
