HSBC to shut 114 branches as online banking takes over
HSBC is shutting 114 branches next year after it revealed that 97.5% of its transactions now take place online.
Some 11 branches in the East Midlands are affected.
A statement from the bank said: “The decline in branch use has accelerated so much since the Covid-19 pandemic that some of the branches closing are now serving fewer than 250 customers a week.”
The East Midlands branches to close are: Market Bosworth (April), Stamford (May), Arnold, Nottingham (May), Hinckley Road, Leiester (May), Market Harborough (May), Oakham (June), Sleaford (June), Coalville (July), Long Eaton (July), Ripley (July), Eastwood (August).
HSBC says it will refurbish branches in Leicester and Lincoln in 2023.
Founder and CEO of Mycommunityfinance.co.uk, Tobias Gruber, said: “I’m not surprised HSBC have announced they’re set to close yet more branches as customers transition to online banking in their droves, but I hope the bank will plough the money saved into improving their digital and telephone banking offerings for their customers.
“It’s unacceptable for bank customers to wait up to 30 minutes to speak to someone when it’s their only choice because their local branch has vanished. There are no excuses to keep customers on hold, considering the vast amount of money banks generally save from closing their high street branches.
“Post offices are one alternative for basic transactions like paying in cheques and cash, but this move by HSBC will undoubtedly leave even more rural customers that don’t wish and unable to use the internet to do their banking frustrated, stuck and unable to access their money”.