HSBC has announced that it will not close any more branches until at least 2027, following the closure of over 700 branches in the last ten years. The banking giant has confirmed that it will not shut down any of its remaining 327 branches next year and will invest nearly £56 million in enhancing its network. This decision comes after criticism of HSBC and other banks for their mass closure programs, which have left many communities without local branches and easy access to in-person services.
The closure of branches has disproportionately affected elderly, vulnerable, and low-income households, leading to a loss of free-to-use cash machines in many areas. While banks attribute branch closures to the increasing shift towards online banking, HSBC stated that customer usage across its network remains strong, with an average of 825,000 customers visiting a branch monthly and over two million monthly transactions conducted through self-service machines.
Recent estimates reveal that more than 6,000 branches have been closed by banks since 2015, with an average closure rate of 53 branches per month. HSBC alone has shut down 743 branches during this period. To support its existing branches, HSBC has pledged an additional £55.8 million investment on top of the £42 million spent in 2025. This investment will focus on refurbishing and modernizing branches across the UK, with 100 branches already upgraded and plans for further enhancements, including the creation of Premier and Wealth Centers in select locations.
In addition to physical branches, HSBC also offers various community services such as Banking Hubs, Cash Access UK devices, and “cash pods” to ensure accessibility for customers. The bank’s commitment to keeping all branches open for at least another year reflects its dedication to providing in-person services, especially for customers with complex needs who value face-to-face interactions.
HSBC’s recent announcement aligns with Nationwide building society’s decision to keep all 696 Nationwide and Virgin Money branches open until at least 2030, emphasizing the importance of maintaining a physical presence in communities.