HSBC to close its Marlborough branch during 2017

Written by Tony Millett on .

The Marlborough High Street branch of HSBC is one of 62 branch closures across the country announced by the bank as the last part of its 'branch restructuring programme'.  The branches will be closed by the end of 2017.

The bank cites the continued and accelerating move away from branch banking to internet and 'phone banking.

Branches from Alnwick to Newquay and from Fishguard to Shaftesbury Avenue in London will close.  The other Wiltshire branch to close is in Warminster.

A statement from the bank explained the closures:  "The decision to close the branches reflects a change in the way customers are banking, HSBC’s continued investment in digital banking, and its objective to achieve a sustainable branch network for the long-term...Over the past five years, the number of customers using HSBC branches has fallen by almost 40 per cent.

"93 per cent of customers’ contact with the bank is now completed via the telephone, internet or smartphone, and 97 per cent of cash withdrawals are made via an ATM."

The company says it "...will seek to redeploy as many of the people impacted as possible although it is expected these closures may result in up to 180 redundancies."

The HSBC statement continues:   "In order to best support customers, HSBC is putting a number of measures in place to help customers, and already has a partnership with the Post Office so customers can continue to carry out their day to day banking in all 11,600 Post Office locations."

"93 per cent of people in the UK live within one mile of a Post Office and 99 per cent within three miles."