VALE of Clwyd MP Dr James Davies has called for a meeting with HSBC following its announcement that it will be closing 114 branches in 2023, including Denbigh.
In a letter to Dr Davies, the bank said the branch, situated on Vale Street, will close on August 8 next year.
Dr Davies said: “The news that HSBC plan to shut their prominent Denbigh branch next August is incredibly disappointing and will come as a huge blow to the local community.
“HSBC have already closed a number of banks across North Wales in recent years, and when they announced the closure of their Prestatyn branch at the start of 2021, I met with them and highlighted the impact of their branch closures on local businesses and those people who don’t use online banking.
"I have now requested a meeting to outline my concerns regarding the closure of the Denbigh branch.
“To close a further 114 branches nationwide, on top of the substantial closures in the last couple of years, is quite staggering and will have a massive impact on communities."
Making the announcement, HSBC said, over the past five years, use of the bank’s branch network by regular customers has fallen by 65 per cent.
HSBC says footfall in the vast majority - 74 per cent - of closing branches has reduced by at least 50 per cent.
The bank stated the decline in branch use has accelerated so much since the Covid-19 pandemic that some of the branches closing are now serving fewer than 250 customers a week.
Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning.
"Banking remotely is becoming the norm for the vast majority of us.
"Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit.
“Branches will continue to play an important role in day-to-day banking, while providing specialist face-to-face support in moments that matter.
READ MORE: HSBC to shut 114 banks in 2023: Full list of closed branches
"In addition to our branch network, customers can access services through the Post Office network, our Community Pop-ups and soon-to-come Banking Hubs, alongside Live Chat, social media and through telephone banking.
“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”
Dr Davies added: “Whilst I appreciate that in recent years there has been a surge in the use of online banking, there are still people, particularly the elderly, who like to bank in person.
"Once the Denbigh branch has gone, those wishing to do in-person banking will have to travel over seven miles to the nearest branch in Ruthin, or even further to branches in Rhyl, Shotton, or Mold.”
The Vale of Clwyd MP, who recently helped secure the promise of a Banking Hub for Prestatyn, after all banks in the town closed last year, added: “Earlier this year the Royal Society for Arts, Manufactures and Commerce published a report suggesting that 10 million people would struggle in a cashless society.
"As incomes are squeezed, there is evidence that some people are turning back to cash to help them to budget.
"The Post Office reported record withdrawals in July 2022, while LINK ATM withdrawals still exceed £7 billion monthly.
"Cash remains king for so many, and it is therefore vital that people can easily access it."
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