HSBC has announced a commitment to keep its remaining 327 branches open until at least 2027, following a decade where over 700 branches were closed. The decision comes amidst criticism faced by HSBC and other banks for reducing branch accessibility, particularly impacting elderly, low-income households, and vulnerable individuals. The closure of branches has also led to a decline in the availability of free-to-use cash machines.
While banks attribute branch closures to increased online banking usage, HSBC revealed that its branches still see significant footfall, with an average of 825,000 customers visiting monthly and over two million transactions through self-service machines. Since 2015, an estimated 6,000 bank branches have been closed nationwide, with HSBC alone shutting 743 branches during that period.
HSBC is investing £55.8 million in upgrading and modernizing its existing branches, building on the £42 million spent in 2025. This investment includes refurbishing branches, creating Premier and Wealth Centers, and enhancing services across various locations. Additionally, HSBC is extending its reach through community services like Banking Hubs and cash access points.
Sally Williams, head of the branch network at HSBC UK, emphasized the importance of physical branches in providing specialized services and catering to customers’ diverse needs. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s commitment to enhancing accessibility for customers through various channels.
HSBC’s decision to retain its branches comes shortly after Nationwide building society announced a similar pledge to keep all its 696 branches open until at least 2030.