HSBC bank closures: UK branch closures in Glasgow - impact on share price and is there a contact number?

Thousands of customers across the United Kingdom are logging on to their HSBC online banking accounts to establish if any of the branches in their area have been listed for closure.
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HSBC has announced the closure of 69 of its branches across the whole of the UK in 2022.

This announcement comes after the company closed 82 of its branches nationwide in January of last year.

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So, will the Glasgow Buchanan Street branch be closing? Here is everything you need to know.

Are any of the branches in Glasgow earmarked for closure?

A spokesperson for the company announced that HSBC is moving forward with closing two of their Scottish branches.

Sites in Perth and Inverness are expected to close, with Perth closing in July and Inverness in September.

There are currently no plans to close the Buchanan Street branch in Glasgow.

What explanation has HSBC given for the closures?

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HSBC has stated that the sharp decrease in footfall in their branches has been a major contributing factor to the mass closures.

According to HSBC, less than 50 per cent  of its customers now regularly use its branch network, with footfall severely dropping over the last five years.

The head of HSBC UK’s branch network, Jackie Uhi, 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.”

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Jackie Uhi added:“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.”

Will my account be affected by the closures?

No, your account will not be affected by the closures.

While face to face interactions will be harder for those in the areas where branches are being closed, HSBC has online banking available on their app and website.

Is there a contact number I can use to speak to HSBC?

HSBC has a variety of ways for getting in touch with them.

Glasgow customers can ring their local branch on 0345 740 4404.

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There is a dedicated customer service number for all customers needing help. Existing customers can get in touch by calling 0345 740 4404.

Non-existing customers can get in touch with HSBC by calling 0345 587 3444.

Alternatively, you can chat to someone live via their online banking app.

How are the closures affecting the HSBC share price?

Although there have been closures throughout the country, and whilst the share price initially decreased in value on Tuesday it showed signs of recovering on Wednesday with the London Stock Exchange reporting an increase of approximately 1.8 per cent (all stock market information correct at the time of publishing).

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