HSBC announces closure of over eighty banks throughout the UK starting in April 2021
HSBC in Canary Wharf
HSBC has today announced plans to close 82 branches across the UK before the end of September this year, almost 14% of all of its branches currently open.
Of those that remain open, some are being streamlined to work with fewer staff, creating a new tiered system.
A new ‘strategic direction’
Full-service branches in major cities and towns will continue to offer a complete counter service, covering all manner of banking requests.
Cash service branches will predominantly focus on communities where cash is used more than digital banking, with limited counter services available along with some more complex requests including bereavement.
Digital service branches will be counterless, with a focus on encouraging customers to sign up to online and app-based banking. Cash and cheque transactions will be completely self-service.
Pop up branches will be roaming, covering rural areas and dealing with smaller, immediate queries such as opening accounts, digital education and more.
Over the last few months, we’ve been conducting a number of pilots to test out a range of potential future branch formats at different locations to make sure we are giving customers what they want where they want it.
The direction of travel is really quite clear and this is borne out by the reduction in branch usage and increase in digital interaction that we are seeing first-hand.
HSBC’s Jackie Uhi
The bank also explained that the reason behind the changes was routed in the Coronavirus pandemic.
The Covid-19 pandemic has emphasised the need for the changes that we are making.
It hasn’t pushed us in a different direction but reinforces the things that we were focusing on before and has crystallised our thinking. This is a strategic direction that we need to take to have a branch network fit for the future.
HSBC’s Jackie Uhi
Of the 82 branches that are closing, all but one are within a mile of a Post Office where simple transactions can be carried out. Two-thirds are within five miles of another HSBC branch, and 90% are within 10 miles, according to the bank.