MP Gareth Davies urges HSBC bank boss to rethink closure of Bourne branch
The MP for Bourne is urging the boss of HSBC bank to rethink plans to close its branch in the town.
Gareth Davies said many of his constituents, particularly the elderly, would suffer as a result of the move.
The banking giant announced on Tuesday (February 25) that it was closing 27 branches nationwide.
Bosses say nine out of 10 of its customers now use internet, telephone or smartphone banking and local branches are becoming hugely underused.
Furthermore, fewer than one per cent of all cash withdrawals are now said to take place inside a branch.
But in a letter to HSBC’s group chief executive, Conservative MP Mr Davies writes: “While banking of course has changed over the years many in my constituency rely on local bank branches to process everyday services they either cannot or do not wish to independently do online.
“This is particularly true for more elderly constituents and those who are worried about online fraud.”
In his letter, the MP, whose constituency covers Stamford, Grantham, Bourne and the local villages, continues: “In Bourne we have lost other bank branches from your competitors in recent years and so the services available to our community have been reduced.
“Can I ask what evaluation the bank has made on the impact the proposed closure will have on our local community.
“Bourne is a town that has seen positive growth in recent years and as such I would urge you to reassess the decision to close the branch.”
HSBC’s network of branches has reportedly halved in the past five years.
A spokesman for the bank said: “The way our customers bank with us has changed significantly over the last five to 10 years, and that change is something we cannot ignore.
“The decision to close these branches will help to ensure a sustainable branch network for the future and allow us to continue to invest in it, as illustrated by the improvement to 49 branches in 2020, along with the continuing investments in our people and digital platforms.”
He added: “Almost every industry is affected by similar behavioural change and needs to work hard to address that - newspapers used to be delivered by paper boys and girls, or a paper would be collected from a shop, and now most people consume their news online.
“Photographs that were once processed in a shop have now been replaced with digital cameras and online delivery.”
Bourne has lost its Barclays and NatWest branches in the past three years.
However, Lloyds announced in January that it is keeping its town branch open.
No date has been made public for the closure of the HSBC branch, which is located at 3 North Street, Bourne.
Are you going to be affected by the closure? E-mail smeditor@stamfordmercury.co.uk or write to us at Cherryholt Road, Stamford, PE9 2EP
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