HSBC Falmouth is set to close as part of the company's UK transformation programme.

The Falmouth bank on Market Street will close for good on the 6th October 2022.

HSBC announced today (15th) a further transformation of its branch network, which will see it close 69 branches as it continues to evolve its branch approach, with branch formats tailored for each local community.

HSBC UK's new branch approach includes a broader range of local support, beyond the traditional bank branch. It includes community pop-ups, new integrated self-service machines, colleague-assisted digital support for customers, as well as continued use of the Post Office network.

HSBC says this will allow them to continue to invest in digital and mobile servicing and reinvest in its branch network in key locations.

Jackie Uhi, Head of HSBC UK's Branch Network, said:

"The way people bank is changing - something the pandemic has accelerated. Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop-ups, and continued use of the Post Office network. Rather than a one-size-fits-all branch approach, it's an approach built around the way different customers are choosing to bank in different areas.

"We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we're removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing. This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches."

The transformation programme will result in the following changes:

• Refurbishing branches in key locations, enabling branches to better support customers with their digital needs.

• New integrated deposit and withdrawal cash-machines.

• Free customer tablet devices for our vulnerable customers where digital servicing will support, assisted by the HSBC@Home education programme.

• Customer outreach programme (via telephone and face-to-face), ensuring they're aware of the support available.

• HSBC@Home – digital education sessions available online and surrounding branches.

• HSBC-run community pop up events in local libraries and community halls to provide education and account support outside the traditional branch (over 700 planned this year).

• Standalone self-service machines for cash-dependent communities where there is limited existing cash coverage, such as in more remote locations.

• Contributing to shared banking hubs, where UK banks have agreed to share services to ensure communities have fair access to cash.

Click here to see more from HSBC.

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