Future of Scarborough's HSBC branch revealed as 69 nationwide closures announced in major shift to online banking

HSBC has confirmed the future of its Scarborough bank as it revealed plans to close branches across the country in a move towards digital and mobile banking.

By George Buksmann
Tuesday, 15th March 2022, 5:26 pm
Updated Thursday, 17th March 2022, 2:22 pm
Scarborough's HSBC branch on St Nicholas Street. (Photo: Google Maps)
Scarborough's HSBC branch on St Nicholas Street. (Photo: Google Maps)

HSBC UK today announced it will close 69 branches across the UK, which it says is in response to the shift to mobile and online banking, accelerated by the pandemic.

It said that less than 50 per cent of the bank's customers now actively use its branch network, with the average footfall declining more than 50 per cent since 2017, faster than any point in the last decade.

The closures will begin in July this year, with all 69 to be closed by the end of October.

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It is understood that the move is expected to affect more than 400 staff where closures have been announced, and they face losing their jobs. HSBC said it aims to redeploy impacted staff.

Scarborough's HSBC branch will remain open after it was not included on a list of nationwide closures. HSBC said no planned closures are the last bank branch in town.

HSBC has pledged to offer more varied services for customers outside of the traditional banking format, as it shifts towards investment in digital and mobile banking and branches tailored towards local communities.

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.

"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."