HSBC announces mass branch closures across UK
114 branches will shut next year
Last updated 30th Nov 2022
HSBC is going to close more than 100 branches across the UK next year saying far fewer customers are physically going to the bank.
In total 114 will shut their doors beginning in April 2023, though the firm says tens of millions of pounds will be invested in updating and improving the remaining branch network.
HSBC branches are closing in Dorset, Hampshire, Sussex and the Isle of Wight:
Blandford Forum – April 18
Bexhill-on-Sea – April 18
Alton – April 25
Shaftesbury – April 25
Bridport – May 23
Hove – May 23
New Milton – June 27
Lewes – June 27
Park Gate, Fareham – July 11
Bognor Regis – July 18
Christchurch – July 25
Seaford – July 25
Ryde – August 22
'Remote banking is the norm'
Jackie Uhi, HSBC UK’s Managing Director of UK Distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning.
"Banking remotely is becoming the norm for the vast majority of us.
"Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit."
Stats published by HSBC to accompany the news, say more over nine in 10 transactions (97.5 percent) are now completed digitally.
The bank also says use of its branches by regular customers has fallen by 65 percent in the last five years and some that are set to close are seeing fewer than 250 customers a week.
“Branches will continue to play an important role in day-to-day banking, while providing specialist face-to-face support in moments that matter," Ms Uhi said.
"In addition to our branch network, customers can access services through the Post Office network, our Community Pop-ups and soon-to-come Banking Hubs, alongside Live Chat, social media and through telephone banking."
She adds that the decision to close a branch is "never easy or taken lightly" especially if the branch in question is the last in that particular area.
“Our commitment to supporting the UK’s new banking hubs and other community access to cash initiatives under development remains steadfast and we look forward to significant and quicker progress being made in 2023, now much of the groundwork for setting up Cash Access UK Ltd, has been done," she said.