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HSBC to close Welshpool branch

Created on 19/01/2021 @ 12:20


Welshpool’s town centre has taken another huge blow following breaking news today that HSBC is to close in September.

The banking giant is shutting a total of 82 branches across the UK to streamline its operations, saying that 81 of the affected branches are within one mile of a Post Office, where customers can carry out day-to-day transactions.

Meanwhile, two-thirds are within five miles of another HSBC branch and nine in 10 are within 10 miles. The move will reduce the number of HSBC branches to 511.

It is awful news for Welshpool’s struggling high street which is already set to lose WH Smith next month, and it will open up another gaping hole that will be tough to fill with Janeva's, next door, also set to close this summer.

It is not clear how the current staff will be impacted by the decision, but the bank has said it will try to relocate employees.

The move will leave just Barclays and Lloyds as major banks in the town with their own dedicated branches.

HSBC's Jackie Uhi said: “The direction of travel is really quite clear and this is borne out by the reduction in branch usage and increase in digital interaction that we are seeing first-hand.

“The Covid-19 pandemic has emphasised the need for the changes that we are making.”

According to the bank, its last day of trading in the town will be September 24. 


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