HSBC to close 62 more branches - what you can do now
HSBC is closing an extra 62 branches this year. Has your local bank been hit?
HSBC has announced it will close another 62 branches in 2017.
Some will close in the summer while others will remain open until the end of the year.
The banking giant had already earmarked a total of 55 branches for closure, meaning a total of 117 will disappear in 2017. This is in addition to the 222 that were shut last year.
The bank says it's making the changes as more people are doing their day-to-day banking online, with the number of customers visiting its branches falling by half in the last five years.
Francesca McDonagh, HSBC's head of retail banking, said: "Fewer people are using branches.
"More than 90% of our interactions with customers are now through our digital channels - an increase from 80% last year."
Which? figures reveal that HSBC has closed over a quarter of its branches in the past two years, the most of any bank.
Around 180 staff are expected to lose their jobs as a result of the latest move, although HSBC says it hopes to redeploy affected workers.
Scroll to the end of this article if you want to see the list of all 62 branches that will close.
Ongoing trend
Last week, Clydesdale and Yorkshire Banks announced 79 branch closures, while the Yorkshire Banking Group has completely done away with the Norwich & Peterborough (N&P) arm.
A total of 28 branches will be closing this year, all N&P current accounts will be closed and the brand will be abolished.
What you can do now
The closures coincide with a new industry-wide agreement between major banks and the Post Office.
Now 99% of personal banking customers and around three-quarters of business customers are able to use the Post Office for essentials like cashing cheques and withdrawing cash.
The Post Office offers services on behalf of HSBC, First Direct, Lloyds Bank, Halifax, Santander, Royal Bank of Scotland, NatWest Bank, Bank of Ireland, Nationwide Building Society, TSB, Barclays Bank, Danske Bank, Allied Irish Bank, Virgin Money, Co-op Bank, Metrobank, Handelsbanken Clydesdale Bank, APS, ThinkMoney, Yorkshire Bank and CAF.
You’ll automatically be eligible to bank at your nearest branch, so there’s no need to sign up or register.
The Post Office has 11,600 branches across the UK – find your nearest with the Post Office branch finder.
Or you always have the option to switch to a bank which has a branch near you.
There are still current accounts out there offering decent returns and other offers.
Compare current accounts with loveMONEY to find out more.
Compare current accounts: find the right deal for you
Which ones are closing?
The 62 latest branches to close are:
Alfreton
Horncastle
Alnwick
Keswick
Ammanford
Kidlington
Balsall Common
Kirkbymoorside
Bedworth
Knighton
Blackpool, Birley Street
Leyburn
Bletchley
Llanrwst
Brigg
Ludlow
Bristol College Green
Maesteg
Brompton Road
Manchester University
Cardiff, Churchill Way
Marlborough
Carlisle, Kingstown Road
Midsomer Norton
Carterton
Narberth
Castle Bromwich
Newquay
Castle Donington
Redruth
Chase Terrace
Rickmansworth
Chesham
Shaftesbury Avenue
Chipping Norton
Stokesley
Cobham
Swinton
Consett
Syston
Cosham
Team Valley
Easingwold
Thorne
Ferndown
Totton
Finchley Church End
Warminster
Fishguard
Warwick
Gerrards Cross
Wath Upon Dearne
Haslemere
Wembley Park
Hedon
West Byfleet
Hemsworth
Willenhall
Holyhead
Wood Green
Holywell
Worle
Don't miss these banking stories:
Current account mistake millions are making
Credit cards that are free to use on your holidays
Clydesdale and Yorkshire Banking Group closures: full list of affected branches
Comments
Be the first to comment
Do you want to comment on this article? You need to be signed in for this feature