HSBC has made a commitment to refrain from closing any additional branches until at least 2027, following the closure of over 700 branches in the last ten years. The banking giant has announced that it will not shut down any of its remaining 327 branches next year and will instead invest nearly £56 million in enhancing its network. This decision comes after facing criticism, along with other banks, for their branch closure programs, which have left many communities without easy access to in-person banking services.

The closure of branches has disproportionately affected elderly, vulnerable, and low-income households, leading to a lack of free-to-use cash machines in many areas. While banks attribute branch closures to customers’ increasing preference for online banking, HSBC stated that branch usage remains strong, with an average of 825,000 customers visiting a branch monthly and over two million monthly transactions conducted through self-service machines.

Since 2015, estimates indicate that banks have closed more than 6,000 branches, with HSBC alone shuttering 743 during that period. HSBC’s recent investment pledge of £55.8 million in its existing branches builds upon the £42 million spent in 2025. The funds will be directed towards refurbishing and modernizing branches across the UK, with 100 branches already upgraded. The enhancements include major renovations, the establishment of Premier Centres in 29 branches, the introduction of two Wealth Centres, and various improvements in 78 locations.

In addition to physical branches, HSBC has introduced various community banking touchpoints, including shared Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of providing a range of specialized services under one roof for customers, especially those with more complex needs who value in-person interactions.

Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the importance of accessibility for customers and the continuous investment in various banking channels to ensure excellent service delivery based on customers’ preferences. HSBC’s commitment to keeping all branches open for at least another year coincides with a similar pledge from Nationwide, which announced the continued operation of all its 696 Nationwide and Virgin Money branches until at least 2030.