HSBC has decided not to close any more branches until at least 2027, following the closure of over 700 branches in the past ten years. The banking giant will not eliminate any of its remaining 327 branches next year and plans to invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for widespread branch closures that have left many communities without easy access to in-person banking services.
The reduction in branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to a lack of free-to-use ATMs in many areas. While banks attribute branch closures to the increasing shift towards online banking, HSBC stated that their branch network continues to see substantial usage, with an average of 825,000 customers visiting monthly and over two million transactions conducted through self-service machines.
Reports suggest that around 6,000 bank branches have closed since 2015, with HSBC alone closing 743 branches during that period. HSBC’s recent commitment to invest £55.8 million in its remaining branches, on top of the £42 million spent in 2025, will focus on refurbishing and modernizing branches nationwide. The enhancements include major renovations, the establishment of Premier Centers in 29 branches, the introduction of Wealth Centers, and various improvements in 78 locations.
The bank also mentioned the presence of “banking touchpoints” in local communities through shared Banking Hubs, Cash Access UK devices, and “cash pods.” Sally Williams, head of the branch network at HSBC UK, emphasized the importance of maintaining branch services for customers with diverse needs who value face-to-face interactions.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the bank’s ongoing investment in all banking channels to ensure excellent service delivery. HSBC’s commitment to keeping all branches open for at least another year aligns with its expansion of community services like Banking Hubs and HSBC Local events.
HSBC’s decision follows a similar announcement by Nationwide building society, which pledged to keep all 696 Nationwide and Virgin Money branches open until at least 2030.