HSBC to pay for trans staff’s gender-affirming care to encourage workers to ‘be their authentic self’

HSBC building in Canary Wharf

HSBC has confirmed it will pay for trans employees’ gender-affirming treatments from next year in a bid to support people to “be their true authentic self”.

Its 2023 initiative will allow its employees, their partners and children under 21 (and over 18) to apply to have their gender-affirming surgeries paid for, as well as, mental health treatments, hormone consultations, speech therapy and more. 

The “gender dysphoria benefit”, which will launch from 1 January, is part of the bank’s aim to encourage its trans and non-binary employees to “be their true authentic self”.

A spokesperson for the bank told PinkNews: “Our diversity is a defining feature of who we are and how we operate, and we are a proud and active supporter of customers and colleagues across the broad spectrum of diversity of sexuality and gender identity. 

“By providing access to gender affirmation treatment, we hope that our trans and non-binary colleagues and their dependants are able to be their true authentic self.”

One pleased customer thanked the bank on Twitter, writing: “Got to love this bank. If I had not recently moved banks, they would be getting my custom.”

Another wrote: “Proud to be a long-standing customer of an organisation with such a rightly progressive, inclusive and embracing ethos as this.”

Earlier in 2022, when Halifax bank said it would allow its staff to wear pronoun badges, some people made ludicrous claims they were closing their accounts immediately due to so-called ‘gender critical’ views.

Similar claims have been made about HSBC’s new scheme as well, proving that some people would rather stuff their money under their mattress than bank with an inclusive organisation.

Ten gender-neutral titles for customers

Earlier this year the bank confirmed it would stop collecting customer gender data, and back in 2017 it said it didn’t require proof for customers to change their gender. 

At that time, in a bid to “reflect the financial needs of the trans community” it introduced ten new gender-neutral titles for customers, who were able to select from Mx, Ind, M, Mre, Msr, Myr, Pr, Sai, Ser or Misc.

Earlier this year, Natwest confirmed it would pay for trans staff to get privately-funded hormone treatment.