To encourage local consumption and relieve people’s financial burden during the pandemic, Hong Kong Financial Secretary Paul Chan announced in the 2020-21 Budget that HK$10,000 will be disbursed to eligible Hong Kong residents.

The Cash Payout Scheme is now open for registration. Hong Kong permanent residents, including those overseas, who are aged 18 or above on or before March 31, 2021, are eligible to receive the HK$10,000 payout. The scheme’s registration will close on December 31, 2021.

Residents can register online through 21 participating banks to have the sum deposited to their personal bank accounts. They may also submit a paper registration form to banks.

Those who wish to receive payment by check may submit a paper registration form to Hongkong Post and collect it in person at the post office.

They can also submit an electronic registration form at the Hongkong Post website or paper registration forms to GPO Box No. 182020.

The Financial Secretary allayed worries about the personal data collected being misused in the registration process, noting that there is a robust regulatory regime in Hong Kong for privacy protection.

The Monetary Authority has all along very stringent data privacy requirements in place to make sure the banks are using the data collected properly for banking purposes. The requirement in this respect is the same, regardless of whether it is a virtual bank or a bank with a physical branch.

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