HSBC to close 69 branches including Eltham and Sidcup
Banking giant HSBC have announced that 82 branches will close this year including Eltham and Sidcup.
It follows closures at Bexleyheath and Surrey Quays last year.
One alternative suggestion is to use Post Offices, which if you’ve used one recently will know is a bit of a nonsense. They’ve often been squeezed into WH Smith’s branches as in Woolwich and Bexleyheath with long queues.
Like most banks, an increase in online services has seen reduced demand in store. The question is whether alternatives are good enough for those who do not use online services, and overcrowded and understaffed Post Offices often aren’t.
Both Eltham and Sidcup will close in August.
No, postoffices are not the answer as most of them have gone to in-store locations of a WH Smith’s. Staffing is poor and queues ridiculous.
The banks have been nudging the public to on-line for years to the point where they can finally justify the wholesale closure of branches. However, these changes disadvantages some sections of society, not that headoffice cares.
It’s not just that, even if ok with using online there are still things that require entering a branch on occasion.
For example I needed a printed statement once for a landlord, and it was impossible to get what they wanted without entering a branch.
They need to make all services easily available if closing branches.
Ok, so would you be prepared to pay a monthly fee for your account and still have branch access? People want ‘free’ banking without realising it costs money.
These poor banks are hardly short of money, and HSBC have been racking up some (weak) fines such as this on money laundering:
https://www.bloomberg.com/news/articles/2021-12-17/fca-fines-hsbc-85-million-for-anti-money-laundering-failings#:~:text=The%20Financial%20Conduct%20Authority%20has,against%20the%20firms%20it%20regulates.
Not everyone is able to use the internet for on line banking. Many of whom are elderly disabled or unable to use the internet for other reasons so rely on a local branch of their bank
Anonymous201401 is right post offices are not the answer due to the reduction of main post offices meaning many are smaller post offices located in other shops with not much room for customers to queue..
The postoffice operation in WHSmith’s Lewisham is abysmal. Once I discovered Mailboxes etc on Lee High Road, I more or less stopped going into Smith’s. However, I have moved away from the town centre and neither is on my stamping ground how.
@Yessie T: there is no such thing as free banking and some accounts do have a monthly “fee” in exchange for enhanced services.