Bromborough HSBC to close in 2023

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.

The Bromborough HSBC branch at 58 Bromborough Village Road, is scheduled to close in July 2023, as one of 114 branch closures earmarked for next year.

The comprehensive review of HSBC UK branch network in 2023 will see:

• Closure of 114 branches from April 2023;
• Tens of millions of pounds invested in updating and improving its remaining branch network;
• Provision of free tablet devices and one-to-one coaching for selected customers as part of its post-closure strategy;
• Significant investment in expanding the digital functionality of HSBC UK’s digital banking; and
• Continued investment of millions of pounds in support for Shared Banking Hubs and Community Access to Cash.

Over the past five years, use of the bank’s 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.

HSBC said that the growth in the “adoption of remote banking shows a digital-first approach is how more and more customers now want their needs met.”

• Over nine in ten transactions (97.5%) are now completed digitally;
• usage of the mobile app has almost tripled (up by 280%) since 2017;
• 250% more digital payments made than five years ago;
• a 175% increase in cheques deposited through the app since its introduction in 2018, at a time when cheque usage is falling;
• 99% of all personal loans and 98% of credit cards now taken out digitally;
• over 220k contacts with the bank over social media in the last three years and almost five times more contact through social media so far in 2022 than in the whole of 2017; and
• HSBC UK’s secure Live Chat service increased 10-fold in the last three years, handling millions of customer queries each year.

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.”

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