Home   Business   Article

Subscribe Now

HSBC to close another branch in Stratford district

Wellesbourne Airfield
Wellesbourne Airfield

A spokesman for HSBC said use of the Studley branch has been declining in recent years, with 81 per cent of contact the bank has with its customers being over the phone.

The decision to close the branch has come under fire from parish councillor Karen Somner-Brown.

She told the Herald the bus service to the next nearest HSBC branch in Redditch was costly and unreliable.

“The branch is very convenient for local people, many of whom don’t drive or are elderly or disabled,” she said.

“The closure is going to end up costing quite a bit for the people of Studley whichever mode of transport they use.

“It could be disastrous to small businesses who would have extra costs to endure in travelling to Redditch but could also lose trade because customers travelling to Redditch to do their banking may well choose to spend their money there instead of in Studley.

“Some small business holders are aware that cash can be paid in at the post office but they have expressed concern because this takes a couple of days to appear in their bank account and being very small business they need their cash to flow much quicker than this in order to pay their bills.

“HSBC advertises itself as ‘the world’s local bank’, perhaps they should think about that before they close the Studley branch at great inconvenience to their customers many of whom have been loyal to them for many decades.”

The HSBC spokesman blamed an increase in the use of online and telephone banking for the closure.

"We never take the decision to close a branch lightly, and we understand it's unsettling for the local community.

“We are working with customers who use the branch to help them understand their options, which include being able to use local post offices for their day-to-day banking. There are also free ATMs in the area."

Branches in Kineton and Southam will close on 4th March.

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies - Learn More