HSBC recently announced a commitment to keep its remaining 327 branches open until at least 2027, following the closure of over 700 branches in the past decade. The decision comes after facing criticism along with other banks for reducing branch accessibility, impacting communities that rely on face-to-face services.
The closure of branches has disproportionately affected vulnerable groups such as the elderly and low-income households, leading to a loss of free-to-use cash machines in many areas. While banks attribute branch closures to increased online banking, HSBC revealed that customer engagement remains strong, with over 825,000 monthly branch visits and two million transactions through self-service machines.
In the last five years, estimates show that banks collectively shut down more than 6,000 branches, averaging 53 closures per month, with HSBC accounting for 743 closures. To enhance its existing branches, HSBC is investing £55.8 million in renovations and modernizations, building on the £42 million spent in 2025. This investment includes upgrading 100 branches, establishing Premier and Wealth Centers, and making improvements across 78 locations.
In addition to physical branches, HSBC offers various community touchpoints like Banking Hubs and Cash Access UK devices. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person services for customers, especially those with complex needs. The bank is expanding its presence through community services and events to provide a range of specialized services under one roof.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the bank’s commitment to customer accessibility across all channels. HSBC’s pledge to keep branches open for at least another year aligns with its goal to enhance customer service through various banking channels.
HSBC’s announcement follows a similar commitment by Nationwide building society to keep all 696 Nationwide and Virgin Money branches open until at least 2030.