HSBC has recently announced that it will not be closing any more branches until at least 2027, following the closure of over 700 branches in the past decade. The banking giant has made a commitment to retain its remaining 327 branches next year and will be investing nearly £56 million in enhancing its network. This decision comes after facing criticism, along with other banks, for extensive branch closures that have left many communities without easy access to face-to-face banking services.
The closure of branches has had a significant impact on 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 have attributed branch closures to the increasing shift towards online banking, HSBC stated that customer usage across its network remains strong, with an average of 825,000 monthly branch visits and over two million monthly transactions through self-service machines.
Reports indicate that more than 6,000 bank branches have been shut down since 2015, with HSBC alone closing 743 branches during that period. HSBC’s investment pledge of £55.8 million in its existing branches, in addition to the £42 million spent in 2025, will focus on refurbishing and modernizing branches nationwide. This initiative includes upgrading 100 branches, establishing Premier and Wealth Centres, and making improvements in 78 locations.
In addition to physical branches, HSBC offers various community banking services through shared Banking Hubs, Cash Access UK devices, and “cash pods.” Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person services for customers with complex needs. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the ongoing investment in all banking channels to ensure excellent customer service.
HSBC’s decision to keep all branches open for another year aligns with its strategy to expand its high street presence through community services. This move follows a similar commitment by Nationwide building society, which announced the continued operation of all its branches until at least 2030.