The opt-in service, which is available to customers with HSBC Bank Account, Basic Bank, Plus and Premier accounts, will allow holders to choose whether they receive monthly statements, letters, cheque books and other materials relating to their account.
As part of the scheme, which launches this week, HSBC will donate £5 to WWF, Earthwatch and The Climate Group, on behalf of every customer who signs up for the green account service before August 26.
Customers will also be offered discounts on a range of environmentally friendly products and services, including £70 off energy company Ecotricity, and 10% off subscriptions to the Natural Collection, 40% off subscriptions to The Ecologist magazine, and 20% off a first order at Goodness Direct.
HSBC said its green account service would eliminate "around 95%" of the paper normally used by current account customers, which is equivalent to 100 pages in the first year of a person's account and roughly 80 pages from thereon.
Mike Oliver, head of current accounts at HSBC, said: "For us, this is another step on our journey towards greener banking. We already plan to extend the green bank account option to Student, Graduate and Youth accounts in the next few months and we are looking to launch more green initiatives and products going forward."
*HSBC launched its £50m five-year Climate Partnership scheme earlier this year, incorporating the RMG Connect-created A Little Greener , which will aim to make Hong Kong, London, Mumbai, New York and Shanghai more environmentally friendly cities.*
Last month the company pledged $100m to a coalition headed by WWF to tackle climate change.