The Courier & Advertiser (Angus and Dundee)
Dundee branch of HSBC among 114 to close across UK
Banking giant HSBC will close 114 branches across the UK, including one in Dundee. The bank said it will begin the closures from April next year. The Murraygate branch is scheduled to close in May.
HSBC says the decision is the result of the surge in online banking.
The group stressed that it hopes to redeploy all its employees at affected branches to other roles within HSBC.
But it believes about 100 staff could leave as a result of the closure plans.
Jackie Uhi, HSBC UK’S managing director of 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 most of us.
“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area.
“We’ve invested heavily in our ‘post-closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”
The bank said it is investing tens of millions of pounds in improving its remaining 327 branches across the UK.
After the closure of the Murraygate branch, the closest HSBC to Dundee will be in Edinburgh. The bank shut its branch in Perth last year.
Banking hubs, pop-up locations and use of the Post Office network will continue to be available to HSBC customers.
Since the pandemic, some of the branches being shut serve less than 250 customers a week.
On the other hand, usage of its mobile app has almost tripled since 2017.
Earlier this year, M&S revealed plans to shut its Murraygate store and move
People still rely on their bank’s local branch and its friendly staff
to a new superstore in Dundee.
Scottish Conservative North East MSP Maurice Golden said: “This is part of a worrying trend being pursued by most major high street banks.
“Footfall may well be in decline, but a number of people still rely on their bank’s local branch and its friendly staff.
“That includes vulnerable people unable to properly access internet banking and businesses who need to visit regularly.
“And in an age where there is so much concern about fraud and scams, many customers simply find it reassuring to be able to deal face-to-face with their bank and trusted staff.
“It’s also bad news for the city in terms of losing another respected name from the high street.
“I hope HSBC reconsider this decision and commit long-term to Dundee.”