Kenilworth's HSBC to close permanently next week

By James Smith

28th Jul 2023 | Local News

HSBC at The Square will close on August 1 (image by James Smith)
HSBC at The Square will close on August 1 (image by James Smith)

Kenilworth's branch of HSBC will close permanently next week, as the company shuts 114 of its sites nationwide.

The bank announced the closure of the branch at The Square last year, with its doors to close on Tuesday (August 1).

HSBC said the number of people banking in person had fallen 65 per cent over the past five years.

It also said 97.5 per cent of its transactions now take place online.

An HSBC statement last November said: "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."

The town's closest branch will now be at The Parade in Leamington Spa.

Customers have also been told they can access some services at the Post Office in Abbey End.

When the closure was announced, HSBC UK managing director of UK distribution Jackie Uhi 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.

"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."

The news follows the closures of the town's Halifax and Barclays branches and with Nationwide opening just two days a week.

Kenilworth Town Council has recently announced plans to start increasing support for local businesses, to try and reduce the number of empty units across the town centre.

     

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