Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

HSBC agrees to delay closure of a last branch in town until alternative banking arrangements are in place

by March 27, 2023
March 27, 2023
HSBC agrees to delay closure of a last branch in town until alternative banking arrangements are in place

HSBC has become the first bank to agree to delay the closure of a last branch in town until alternative banking arrangements are in place.

The bank’s move means a number of communities will now not spend months bankless while a new banking hub is opened – or a cash deposit service introduced.

Last year, the banks agreed to fund the setting- up of hubs (community banks) in towns where the last branch was closing – and an independent assessor (cash machine network Link) had decided one was needed to ensure continued access to cash.

Yet the hubs rollout has been protracted as Cash Access UK – responsible for installing them – has struggled to find suitable sites. The average time for a hub to come on stream is more than a year. So far, only four have opened while 43 more are promised.

As the MoS highlighted last month, HSBC was due to close its Oakham branch in June. This would have left the town and the wider county of Rutland without a bank.

Although Link recommended a hub for Oakham, it is nowhere near getting off the ground. HSBC has said that it would now ‘pause’ the Oakham closure until a hub was in place. It also said it would suspend closures in Ripley, North Yorkshire, and Colwyn Bay, Conwy, until cash deposit services recommended by Link were established.

HSBC says: ‘We understand that closing a branch can be difficult for some customers and the wider community – especially when it is the last in the area and there is a gap between its closure and a new hub opening.

‘Wherever a hub is recommended and we have a closure, we will pause it for up to 12 months to enable Cash Access UK time to develop a hub.’

Read more:
HSBC agrees to delay closure of a last branch in town until alternative banking arrangements are in place

0
FacebookTwitterGoogle +Pinterest
previous post
Windfall for group that sacked 800 P&O workers
next post
Head of International Monetary Fund warns of increased risks to stability of financial system after weeks of banking sector turmoil

You may also like

Young enterprise achieves 60th anniversary milestone – after...

May 25, 2023

Keep Faith In Gary O’Neill Despite Winless Start

October 31, 2024

What Is Rust Gambling And How To Get...

June 24, 2024

Unleash Your Greatness: The Life Coaching Revolution

November 21, 2024

Chocolate Cravings and Bargain Hunts Drive Down UK...

April 23, 2024

Key Considerations for UK Company Registration: Simplifying Procedures

April 10, 2024

Meet the student entrepreneur revolutionising the creative content...

June 21, 2023

A guide to the imminent changes to employment...

February 28, 2024

Small Business Saturday launches nationwide roadshow

October 30, 2023

Blackout in Spain and Portugal: Ripples Felt in...

May 6, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved