The branch in Queensway is one of 62 to close around the UK by the end of this year.
The closures reflect a change in the way local customers are banking, HSBC’s continued investment in digital banking, and its objective to achieve a sustainable branch network for the long-term, the bank says.
Over the past five years, the number of customers using HSBC branches has fallen by almost 40%.
Around 93% of customers’ contact with the bank is now completed via the telephone, internet or smartphone and 97% of cash withdrawals are made via an ATM.
HSBC’s head of retail banking and wealth management for UK and Europe Francesca McDonagh said: “The way our customers bank with us is changing. More customers are using mobile and internet banking than ever before, innovation such as Touch and Voice ID has proved extremely popular, and fewer people are using branches.
“The decision to close these branches ensures a more sustainable branch network for the future as we continue to invest in our digital platforms and our people. We will have fewer but better branches, with more empowered front line colleagues using a greater range of technology to support all our customers’ needs
“Our priority now is to work with our colleagues, our customers and the communities impacted by the announcement. We are contacting customers to explain the decision and help them with alternative ways to bank with us. We will offer customers individual sessions to help explain their options or provide help in setting up telephone, mobile or internet banking.”
