IT has been confirmed that 114 HSBC branches, including those in Launceston, Liskeard and Holsworthy, will be closing next year.

The Launceston branch is due to close on May 2 and Liskeard’s on May 23, while Holsworthy’s closure date is yet to be confirmed.

With customer habits continuing to migrate from physical to digital banking, HSBC UK has set out plans for its branch network in 2023, identifying those that will close, as well as outlining investment in its branch infrastructure and digital banking.

Over the past five years, HSBC say the use of their branch network by regular customers has fallen by 65%. Footfall in the vast majority (74%) of closing branches has reduced by at least  50%. The  decline in branch use has accelerated so much since the Covid-19 pandemic that some of the branches closing are now serving fewer than 250 customers a week.

Jackie Uhi, HSBC UK’s managing director of UK Distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us. Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit.

“Branches will continue to play an important role in day-to-day banking, while providing specialist face-to-face support in moments that matter. In addition to our branch network, customers can access services through the Post Office network, our Community Pop-ups and soon-to-come Banking Hubs, alongside Live Chat, social media and through telephone banking.

“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.

“Our commitment to supporting the UK’s new banking hubs and other community access to cash initiatives under development remains steadfast and we look forward to significant and quicker progress being made in 2023, now much of the groundwork for setting up Cash Access UK Ltd, has been done.”

They added: “When a branch is closing it is important that we support customers in that area, whether they are regular or infrequent branch users. One way we have supported selected customers is to help them transition to digital banking by providing them with a free tablet device and training them up. The new tablet now enables them to securely keep control of their finances remotely.”

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