Holton Road HSBC set to close in September
By Ellyn Wright
19th Jan 2021 | Local News
HSBC on Holton Road is set to close on Friday 3 September as part of wider plans to shut 82 branches across the UK after a shift towards mobile and telephone banking.
The closures will be phased throughout the year, between 23 April and 24 September and bring the total number of branches to 511.
The bank says that even without the impact of the Coronavirus pandemic, the number of customers using branches has fallen by a third in the last five years.
It also said that 90% of all customer contact is over the phone, internet or smartphone, with staff talking to over 100,000 customers on social media each week.
A spokesperson for HSBC said: "We aim to redeploy all customer service colleagues who are impacted by these branch closures into suitable nearby locations."
Jackie Uhi, HSBC UK's Head of Network said: "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.
"Our findings have led us to create four new and distinctive formats that we believe will be well-suited to serve the different local markets that we operate in, with a branch network that is fit for the future.
"We know there will always be a need for face-to-face customer support and the evolution of our branches very much takes that into account.
"In recent years we have introduced more digital options to make our customers' lives easier - depositing cheques or putting a temporary block on a card, for example – and we know that customers are becoming more comfortable primarily using online and mobile banking to take control of their finances, turning to other channels for very particular interactions.
"Giving more and better options to enable customers to manage their finances, including self-service, has uncovered a latent demand. 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."
New branch formats will include 'pop-up' branches to help customers with 'in the moment' queries, 'digital service branches' providing traditional cash and cheque transactions using self-service technology and 'cash service branches' to support local communities that have a greater need for cash access. These are in addition to full-service branches.
Jackie Uhi added that while the pandemic has emphasised the need for changes, it has not "pushed HSBC in a different direction".
"It reinforces the things that we were focusing on before and has crystalised our thinking. This is a strategic direction that we need to take to have a branch network fit for the future.
"Making sure we have a sustainable branch network is essential to us, and decisions to close branches are not taken lightly. By ensuring we have the most suitable branch format in each specific local market that we serve, we will ensure that we are in good shape to meet the challenges ahead."
Of the branches selected for closure, 81 are within one mile of a Post Office, where customers can carry out day-to-day transactions, two-thirds are within five miles of another HSBC branch and nine in ten are within 10 miles.
Work to reformat, refurbish and refresh the branches has already started and is expected to be completed by the end of 2021. The new 'pop up' concept branches will be rolled out later this year.
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