HSBC are set to close 62 branches across UK this year, bringing the total number of HSBC branches in the country down to 625.
The bank said the closure of branches reflects a change in the way customers are banking, with people increasingly using mobile and internet banking rather than going in branch.
It said that over the past five years, the number of customers using HSBC branches has fallen by almost 40 per cent, with 93 per cent of customers’ contact with the bank now completed via the telephone, internet or smartphone. It added that 97 per cent of cash withdrawals are made via an ATM.
As a result, HSBC said it would be investing more in digital banking, with an objective to achieve a “sustainable branch network for the long-term.”
Up to 180 employees will be made redundant as a result of the closures, though HSBC said it would “seek to redeploy as many of the people impacted as possible.”
It has also been confirmed that 204 IT jobs could be lost as part of plans to find “significant cost savings” by the end of this year.
Francesca McDonagh, HSBC head of retail banking and wealth management for UK and Europe, said: “The way our customers bank with us is changing.
“More customers are using mobile and internet banking than ever before… and fewer people are using branches.
“More than 90 per cent of our interactions with customers are now through our digital channels – an increase from 80 per cent last year.”
She added: “The decision to close these branches ensures a more sustainable branch network for the future as we continue to invest in our digital platforms and our people.
“We will have fewer but better branches, with more empowered front line colleagues using a greater range of technology to support all our customers’ needs.”
“More customers are using mobile and internet banking than ever before… and fewer people are using branches.
“More than 90 per cent of our interactions with customers are now through our digital channels – an increase from 80 per cent last year.”
She added: “The decision to close these branches ensures a more sustainable branch network for the future as we continue to invest in our digital platforms and our people.
“We will have fewer but better branches, with more empowered front line colleagues using a greater range of technology to support all our customers’ needs.”
Ms McDonagh added that the bank’s priority now was to work with colleagues, customers and communities impacted by the announcement.
She said: “We are contacting customers to explain the decision and help them with alternative ways to bank with us.
“We will offer customers individual sessions to help explain their options or provide help in setting up telephone, mobile or internet banking.”
She said: “We are contacting customers to explain the decision and help them with alternative ways to bank with us.
“We will offer customers individual sessions to help explain their options or provide help in setting up telephone, mobile or internet banking.”
The bank’s chief executive Antonio Simoes said the announcement marks the end of HSBC’s branch restructuring programme.
“We now feel we have the right branch network that complements the other ways in which customers now choose to interact with us,” he said.
HSBC customers should note that day-to-day banking can continue to be carried out in all post offices.
A new agreement between the Post Office and banks has been put in place to offer a solution to bank closures.
It means that customers can use their local Post Office branch to deposit cash and cheques, check their balance, pay credit card debts and withdraw cash, regardless of which bank they have an account with.
Swindon is lucky enough to have escaped the closures, however, the following 62 HSBC branches will close this year.
AlfretonAlnwick
Ammanford
Balsall Common
Bedworth
Blackpool, Birley St
Bletchley
Brigg
Bristol College Green
Brompton Road
Cardiff, Churchill Way
Carlisle, Kingston road
Carterton
Castle Bromwich
Castle Donington
Chase Terrace
Chesham
Chipping Norton
Cobham
Consett
Cosham
Easingwold
Ferndown
Finchley Church End
Fishguard
Gerrads Cross
Haslemere
Hedon
Hemsworth
Holyhead
Holywell
Horncastle
Keswick
Kidlington
Kirkbymoorside
Knighton
Leyburn
Llanrwst
Ludlow
Mesteg
Manchester University
Marlborough
Midsomer Norton
Narberth
Newquay
Redruth
Rickmansworth
Shaftesbury Avenue
Stokesley
Swinton
Syston
Team Valley
Thorne
Totton
Warminster
Warwick
Wath Upon Dearne
Wembley Park
West Byfleet
Willenhall
Wood Green
Worle
