announces closure of its Burnham-On-Sea branch - full reaction
is to shut down its branch in Burnham-On-Sea town centre as part
of a cost-cutting move, it was announced on Monday.
bank's branch, in Burnham's College Street, will shut at the end
of January 2017, says the firm.
blames a sharp 28 per cent reduction in customers at the Burnham-On-Sea
branch for the "difficult decision".
MP James Heappey says the closure "is deeply disappointing"
and he has criticised the firm's decision.
HSBC spokesperson told Burnham-On-Sea.com: "We have written
to all our local customers today (Monday) to inform them that the
Burnham-On-Sea branch will close on 27 January 2017, and advise
them of local alternatives, as well as offering them 1-2-1 sessions
to help explain their options or provide help in setting up mobile
or internet banking."
continually review our branch network to make sure our branches
are in the right locations for our customers and we have a sustainable
network for the future."
the past five years, we have seen footfall reduce by an average
of 28% at our Burnham-On-Sea branch and based on this, we have made
the difficult decision to close the branch."
is not a decision we have taken lightly and we will work closely
with those impacted, including customers, to help them understand
"With regard to the Burnham-On-Sea branch, we have advised
our customers that there is an alternative branch in Bridgwater
should customers wish to visit a branch and talk to a member of
the HSBC team face-to-face."
"That said, 93% of contact with the bank is now completed via
the telephone, internet or smartphone, plus 97% of cash withdrawals
are made via an ATM. As a result, most of our customers are already
carrying out their daily banking needs without need of the branch
addition to mobile and internet banking, we have put in place a
number of measures to help customers, including a partnership with
the Post Office which has a branch a three minute walk from the
Burnham-On-Sea HSBC branch. The Burnham-On-Sea Post Office is open
Monday to Friday, 9am 5.30pm and Saturday, 9am 12.30pm,
so our customers can still carry out their day-to-day banking."
Burnham's MP James Heappey told Burnham-On-Sea.com: "I am deeply
disappointed to hear that HSBC will be closing its branches in Burnham-On-Sea
and Shepton Mallet."
briefed me on the closures last week and I understand staff were
told last week too. Whilst HSBC are offering opportunities for all
affected staff in other branches, my first concern is with those
whose jobs are affected."
"HSBC tell me that customers will be receiving letters explaining
the closure and the alternative arrangements they propose in the
post today. They argue that the branches are no longer viable as
more and more customers are choosing to bank online."
"But this is the same story as weve seen from HSBC and
other banks in other towns across the Wells Constituency and across
the country. Undoubtedly more and more people are willing and able
to do their banking online but there is scant regard for those who
cannot travel to other nearby branches, are unable to use the internet
and for small businesses who need a nearby facility to bank their
cash every day in order to remain within in the terms of their insurance
policies. HSBC will offer the post offices in Burnham and Shepton
as an alternative but Post Office are not able to offer a full range
of services; especially for small businesses. Theyre not able
to do this because the banks wont let them!"
"I strongly encourage both business and personal banking customers
to switch their accounts to other banks in the towns. In Shepton
this is particularly important as there will now be just one remaining
bank. The banks look simply at the amount and value of business
done in a branch and so the best way to guard against further closures
is to make sure that remaining banks are rewarded with as much business
"I have been campaigning in Parliament over the regulations
on bank branch closures since the loss of all the remaining banks
in Glastonbury last year. Most recently, that has included a meeting
with Professor Russel Griggs who has been conducting a review into
the Access to Banking Protocols. Professor Griggs will publish his
report in the next few weeks but it will include significant recommendations
for a revision of these protocols. I have discussed the likely recommendations
with HSBC and they have confirmed that they will be seeking to manage
the closure of these branches, as much as possible, in accordance
with whatever recommendations Professor Griggs makes."
"It is hugely frustrating that yet more bank branches are closing
and there is no escaping that for some in our community, there is
no option other than banking in person, over the counter in a local
bank. Until post offices are empowered to offer a full service in
lieu of a bank and until cashless facilities are available to small
businesses without significant transaction fees; it is disingenuous
for our high street banks to claim that they can close branches
without impact. I will continue to push them hard on these issues."
Meanwhile, HSBC says that customers who have questions about the
closure should contact the bank's community communication team on
Freephone 0800 243 364 or via HSBCcommunitycomms@grayling.com. The
bank will also hold Alternative Ways to Bank drop-in
sessions in Burnham-On-Sea every other Wednesday from 9th November
2016 from 9.30am to 3.30pm.