Online bank rise sees off 82 branches

HSBC is to shut 82 branches across the country because more and more of its customers are now banking online.

Up to three a week will close their doors from mid-April until the end of September, the financial giant said.

And some of the remaining 511 outlets will offer fewer services than before.

Some will become service desks for customers who need access to cash, while some will be self-service only.

The lender said it aims to transform into a market-leading digital bank.

Jackie Uhi, HSBC UK’s head of network, said: ‘The pandemic has emphasised the need for the changes we are making.

‘It hasn’t pushed us in a different direction but reinforces the things we were focusing on before and has crystallised our thinking.

‘This is a strategic direction we need to take to have a network fit for the future. Decisions to close branches are not taken lightly, but by ensuring we have the most suitable format in each local market we serve, we will ensure we are in good shape to meet the challenges ahead.’

Ms Uhi said 90 per cent of all customer contact with the bank was now done over the phone or internet. Staff talk with more than 100,000 clients a week via social media, she added.

Of the 82 sites closing, 81 are within a mile of a Post Office and two-thirds are within five miles of another HSBC branch, bosses said.

No redundancies are expected, with staff transferred to nearby branches.

Since 2015, more than 3,700 bank or building society branches have shut or been earmarked for closure, consumer group Which? reports.

Campaigners say they offer a lifeline for customers needing cash, and small firms that want to pay in their takings.