HSBC has announced plans to close a further 69 branches, putting around 400 jobs at risk. The latest round of closures comes as more people turn to online and mobile banking. The HSBC bank locations closing will be shuttered between July and October this year. Several locations in central London including Westfield shopping centre in […]
HSBC has announced plans to close a further 69 branches, putting around 400 jobs at risk.
The latest round of closures comes as more people turn to online and mobile banking.
The HSBC bank locations closing will be shuttered between July and October this year.
Several locations in central London including Westfield shopping centre in London, Bond Street and the City are among the 11 branches being ditched first.
Ellesmere Port, Petersfield, Falmouth and Sidmoth are some of the areas which are losing a bank branch later in the year.
It follows 82 HSBC branches closing last year and 27 the year before that in 2020.
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Jackie Uhi, head of HSBC UK’s branch network, said the way people banked is changing and that has been accelerated by the pandemic.
She said: “We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.
“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”
Banking hubs, pop up locations and use of the Post Office network will continue to be available to HSBC customers.
Branches being closed this year all have a Post Office located within 1.5 miles where customers can do everyday banking, like deposit or withdraw cash.
Less than half of HSBC customers actively use physical branches, the bank said.
As a result of the closures, HSBC will have 441 branches, with 96 of them “full service”.
Another 172 are “cash service” offering access to cash and simple over the counter services and 173 are “digital service” with no counters and self-service points.
HSBC isn’t the only bank closing branches.Natwest and RBS said in February it was closing 32 locations.
Lloyd’s and Halifax said last year they would close 48 sites, while TSB announced in November that it would axe as many as 70 branches.
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HSBC in Kingston will also close but a date has not yet been set.
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You can find your nearest HSBC branch using the bank’s branch finder tool – just enter your postcode.
You can also find your nearest Post Office location here, and the banking services available there.
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