Bank blames branch closure on ‘rise in internet banking’

HSBC on Tring High Street, which is closing in July 2016
HSBC on Tring High Street, which is closing in July 2016
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HSBC has announced that its Tring branch will close this summer, blaming the decision on the rise in internet banking.

The branch, at 21 High Street, will close for good on July 15 and customers – who have already been notified by letter – will have to go to branches in Berkhamsted or Aylesbury if they want a counter service.

The news is part of a wider programme of closures being rolled out across the UK, with 54 branches already closed and at least a further 56 to go before the year is out.

A spokesman for the bank said: “We never take the decision to close a branch lightly, and we understand it’s unsettling for the local community.

“Unfortunately, with an increase in the use of online and telephone banking over the past few years use of the Tring branch has fallen significantly, and we’ve taken the difficult decision to close it.

“We notified customers of the closure and will be working with those who use the branch to help them understand their options, which include being able to use local post offices for their day-to-day banking. There are also free ATMs in the area.”

Overall, 93 per cent of banking with HSBC is done via the telephone, internet or smartphone, and 97 per cent of cash withdrawals are made through an ATM.”

HSBC was unable to provide footfall or usage figures for specific branches, but said it had seen more than a 40 per cent reduction in branch football on average.

The branch employs three members of staff, who will be relocated to other branches.

HSBC confirmed that the premises are leasehold, and once the branch closes the building will be returned to the landlord.