HSBC bank closures: branch closures near me in Manchester - impact on share price & is there a contact number?

HSBC has announced the closure of 69 of its branches throughout the UK but will it have an impact upon any of its Manchester outlets.

This is in addition to the 82 branches HSBC closed in January 2021, meaning by the end of 2022, the bank would have closed 151 branches in the UK in under two years.

The closures are set to have a big impact on customers, with an average increase of 0.3 miles travel distance to a branch for HSBC UK customers and the average distance to a branch for in-person contact will be four miles.

Are any of the branches in Manchester earmarked for closure?

Out of the 69 that are due to close in the UK, only two will close in Manchester.

Those that are going to close are located at Didsbury (September 29) and Trafford Park (October 4).

How are the HSBC staff going to be impacted?

The closures of the 69 branches will affect around 400 workers at HSBC.

A spokesperson for the bank said that the 400 workers impacted by the announcement will all receive new roles within HSBC, and the new roles will be within 15 miles of their home.

What explanation has HSBC given for the closures?

HSBC says that the reason behind the decision to close 69 branches is due to more and more people doing their banking online rather than in person.

In a press release issued by HSBC they also said that “The decision to re-shape the network and invest in a wider package of support and different formats follows an increasing preference for mobile and online banking, which has accelerated since the start of the pandemic.

“Less than 50% of the bank’s customers now actively use its branch network, with the average footfall declining over 50% since 2017, faster than any point in the last decade.

“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.”

Will my account be affected by the closures?

Any accounts that are with HSBC will not be affected by the closure of the branches, and you can carry on as usual.

You can still visit other branches of HSBC to bank as usual, and online banking will also not be impacted by the announcement.

If you do not do online banking, accessing your account is affected as your closest branch may have closed.

To combat this, 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.”

Is there a contact number I can use to speak to HSBC?

You can contact customer services at HSBC on 0345 740 4404.

Non-HSBC customers can also get in touch with HSBC, by dialling 0345 587 3444.

If you wish to speak with someone sooner and are set up with online banking, you can contact the bank via the app, by logging in and selecting the ‘support’ tab and then click the ‘chat with us’ option.

How are the closures affecting the HSBC share price?

Despite the announcement of multiple closures in the UK, the share price of HSBC has not been impacted.

According to the London Stock Exchange, shares in HSBC were up 1.8% on Wednesday, March 16 2022

All stock market information is correct at the time of publishing.