HSBC has announced that it will be closing 69 of its branches across the UK in 2022. The announcement of the closures comes after 82 branches were previously closed in January last year.
The move is the latest in a series of closures announced by a variety of banks, including NatWest, TSB, Barclays, Lloyds and Halifax.
Since January 2015, banks and building societies have closed, or scheduled the closure, of 4,782 branches, at a rate of around 54 branches per month.
This is everything you need to know.
HSBC has said that it is closing its branches as a result of more and more customers choosing to bank online rather than in person.
The bank said that less than 50% of its customers now regularly use its branch network, with footfall dropping sharply over the last five years.
Jackie Uhi, head of HSBC UK’s branch network, said: “The way people bank is changing – something the pandemic has accelerated.
“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.
“Rather than a one-size-fits-all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.
“We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.
“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”
The decision to close more branches is set to affect around 400 workers.
A spokesperson for HSBC has said that the bank hopes to redeploy all 400 of the affected staff to new roles, all within 15 miles of their homes.
These are the 69 branches that HSBC will be closing across the UK between July and October this year, and their proposed closing dates:
HSBC isn’t the only bank lately to announce the closure of its branches.
TSB is set to close 70 of its bank branches this year – you can see the full list of TSB branches that will be shutting in 2022 on the TSB website.
NatWest will shut 32 of its outlets, including 11 Royal Bank of Scotland locations. This is in addition to the previously confirmed 24 branches already earmarked for closure in 2022.
Speaking about the decision to close its branches, a NatWest spokesperson said: “Closing a branch is a decision we take very seriously.
“We know it can affect people who are less confident with the alternatives we offer, and we’ll always work hard to guide you through the changes and find the best way to serve you from now on.”
You can see the full list of NatWest branches set to close this year on the NatWest website.
Towards the end of last year, Lloyds Banking Group announced that 48 of its branches would be shut in 2022. These closures will affect 41 Lloyds Bank branches and seven Halifax branches.
In 2021, Barclays closed 63 of its branches, and in 2022 it has closed two further locations – in February, it closed its outlets in Daventry and Towcester.