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MP blasts HSBC bank closures

WEST Dorset MP Chris Loder has urged HSBC customers to move their accounts to banks that ‘have more care for rural customers’.
The comments come after the chain, in November, announced it was to close 114 branches – including five in Dorset.

Bosses at HSBC say the closures were due to a range of factors, including customers moving to online banking.
Two set to close, in Bridport and Dorchester, are in Conservative MP Mr Loder’s constituency and he has reacted angrily to the decision.
“This news suggests a total abdication of service from HSBC to their rural customer base, many of which have no wish to bank digitally,” he said.
“Many constituents I have spoken to believe in-person, cash-based banking is the most secure and the most user-friendly method of banking.”
He said the closure would affect the ‘wellbeing’ of the market towns.
“Bridport and Dorchester are both market towns, with the market playing an intrinsic part of these towns’ culture and economy,” he added.
“Cash underpins all of this, and HSBC making this even harder for customers is not going to incentivise growth in town centres.
“I would urge local bank customers to support our local high streets and markets by taking custom away from banks that are disinterested in the wellbeing of our communities and support those banks that are committed to a future in our town centres.”
HSBC said while it didn’t comment on individual closures, decisions were not taken lightly and were made after a thorough review of a branch’s location, with some proving ‘unsustainable’.

Conservative MP for West Dorset Chris Loder

Conservative MP for West Dorset
Chris Loder

“Customers are continuing to migrate from physical to digital banking and footfall in our branches is at an all-time low, with no signs of it returning, while digital adoption and usage is soaring,” a spokesperson said.
“Banking remotely is becoming the norm and we need to take action to make sure we have a sustainable branch network that is fit for the future.”
They said the firm was investing millions of pounds in improving branches staying open, as well as digital services.
“Our branch model does also encompass a broader range of local support, beyond the traditional bank branch, including pop-up branches that are arranged locally to address the needs in each local market,” the spokesperson added.

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