HSBC UK has announced that it will not close any additional branches until at least 2026. This pledge extends the bank’s previous commitment, made in 2023, to avoid new branch closures through 2024.
Despite a significant decline in branch usage—down 65% among regular customers over the past five years—HSBC UK recognizes the ongoing need for in-person banking. This year alone, five million customers have visited branches, underscoring the importance of face-to-face service for complex banking needs.
To support its branches, HSBC UK is investing over £50 million in upgrades. In 2024, the bank has already refurbished more than 100 branches and plans an additional 23 refurbishments by year-end. The investment also includes expanding its community banking options through HSBC Local, which provides accessible banking through pop-ups, shared hubs, and cash pods. This initiative has served 68,000 customers this year and includes over 1,900 pop-ups in locations such as town halls, libraries, and select WHSmith stores.
The bank is also increasing its presence in Shared Cash Access UK banking hubs, with plans to expand to 100 hubs by December, up from 41. The most recent hub opened in Kirby-in-Ashfield, Nottinghamshire, serving over 25,000 residents.
Christopher Dean, Head of UK Customer Channels, emphasized the bank’s commitment to blending traditional and digital banking. “We’re investing in our branches and expanding community services to ensure flexible banking options for our customers,” he said. “At the same time, we are enhancing digital tools and telephony services, reducing call wait times to an average of 19 seconds and streamlining query resolutions.”
With over six million customers logging into online banking weekly and a 250% increase in digital payments over five years, HSBC UK is also focusing on digital advancements. The bank has introduced features for budget management and savings goals, and distributed over 2,400 tablets to aid digital access in local communities.
HSBC UK’s balanced approach reflects its dedication to evolving with customer needs while maintaining crucial in-person services.
