HSBC has announced that it will not close any more branches until at least 2027, following the closure of over 700 branches in the last ten years. The banking giant has confirmed that it will not shut any of its remaining 327 branches next year, instead planning to invest nearly £56 million in enhancing its network. This decision comes after facing criticism, along with other banks, for mass branch closures that have left many communities without convenient access to in-person banking services.
The closure of branches has had a significant impact on the elderly, vulnerable, and low-income households, particularly resulting in the loss of free-to-use cash machines. While banks attribute branch closures to the increasing popularity of online banking, HSBC stated that customer usage across its network remains strong, with an average of 825,000 monthly branch visits and over two million monthly transactions via self-service machines.
Recent estimates show that more than 6,000 bank branches have closed since 2015, with HSBC alone shuttering 743 during that period. In a move to improve its existing branches, HSBC has committed £55.8 million for investment on top of the £42 million spent in 2025. This investment will focus on refurbishing and modernizing branches across the UK, with 100 branches already upgraded and plans for various improvements, including the creation of Premier and Wealth Centres.
HSBC also highlighted its commitment to local communities through various banking touchpoints, such as Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person services for customers with complex needs, noting the expansion of community services and events to enhance high street presence.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s dedication to providing excellent service through all banking channels to meet customer accessibility needs. This announcement from HSBC follows a similar commitment by Nationwide building society to keep all its branches open until at least 2030.
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