HSBC bank closures: UK branch closures near me in Newcastle - impact on share price

HSBC has announced that it is to close 69 of its branches across the UK.

These branches will close between July and September 2022.

The closures have resulted in an average increase of 0.3 miles travel distance to a branch for HSBC UK customers.

All of the branches that are closing have a Post Office within 1.5 miles, 97 per cent  of which are within one mile for day-to-day banking transactions.

The bank has two branches located in the city, these are located on Grey Street near to Greys Monument and on High Street in Gosforth.

Although there are other closures in the north east, these two branches are not currently earmarked for closure. .

The branches in Bishop Auckland and Hartlepool are two of the 69 that will be closing, according to HSBC.

The Bishop Auckland branch is due to close on 23 August, whilst the Hartlepool branch will close a week later on 1 September.

HSBC has given the drop in footfall to its branches as the reason for closing the branches.

The bank added that this has been a result of more people choosing to carry out their banking online.

The closures were selected carefully, and branches were closed that had another branch nearby.

Jackie Uhi, head of HSBC UK’s branch network, said: “The way people bank is changing – something the pandemic has accelerated.

“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.

“Rather than a one-size-fits-all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.”

Accounts at HSBC will not be affected by the branch closures, but they may result in some customers being further away from a branch.

The bank has said that they are working to provide services where branches have closed.

A spokesperson said: “HSBC UK is working with LINK and the Cash Action Group on an industry-wide effort to provide banking services in areas where branches are no longer viable.

“HSBC UK followed regulatory guidelines closely, working with the Action To Cash Access Group to ensure any impact of these closures on access to cash in these areas is considered and affected customers are supported.”

There are various ways of contacting HSBC to find out more about the branch closures.

Customers can log in to their mobile banking app, select the ‘support’ tab and then select ‘chat with us’.

To chat with an agent through the HSBC website, Log in to your online banking and select the ‘chat’ tab to the right of the page.

General questions to the bank can be answered through Apple Messages using the Messages app on any Apple device that enables this service.

If you are an existing customer and you would like to call the bank, ring

03457 404 404

Lines are open from 8am-8pm every day.

For non-HSBC customers, call 03455 873 444

Lines are open 8pm-8pm (except for Christmas Day, Boxing Day and New Year’s Day).

Despite the news of the closures, the share price of HSBC has increased on the London Stock Exchange.

As of 16 March 2022, the share value was up by approximately two percent.