No plans for more branches to shut after HBSC closure

The HSBC branch in Shoreham will close on August 28. Picture: Derek Martin
The HSBC branch in Shoreham will close on August 28. Picture: Derek Martin
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Shoreham’s high street has been granted a reprieve following the closure of HSBC as other banks have said they will be keeping their branches.

Spokespeople from Santander, Barclays and Lloyds banks said there are no current plans to shut their branches in Shoreham, following the announcement by HSBC that it will be closing its branch on August 28.

Shoreham is a thriving high street with no building vacancies at this time, and it will survive this closure

David Steadman

But town centre manager David Steadman said he did not see the closure as a ‘major loss’ because the world of banking is changing.

“As far as I’m concerned we live in a changing world. We’ve got online facilities 24 hours a day which has changed the whole model of retail banking.

“One doesn’t want to see businesses or banks closing, but as long as there is someone else to take those premises it will be moving with the market.

“Shoreham is a thriving high street with no building vacancies at this time, and it will survive this closure.”

A spokesperson from Santander said that they were shutting 10 branches this year, but these were focused in towns and cities where the bank has multiple premises.

They said: “We understand that there are transactions and conversations that customers value having face-to-face; for example, talking about a mortgage or setting up a small business.

“We like to give our customer the choice, as long as that remains economically feasible.”

A spokesperson from Lloyds Bank said: “We remain committed to our Lloyds Bank branch network and branches will continue to play an important role in our multi-channel approach to meeting customer needs.

“At the same time we are investing heavily in digital and mobile to give our customers choice.”

They added that before closing a branch, an assessment is undertaken that takes into consideration the location of local post offices, availability of nearby ATMs and the transport links to alternative branches.

Figures provided by HSBC said that 93 per cent of contact with the bank is now completed via the telephone, internet or smartphone.

Representatives for Natwest have been approached for comment.

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