HSBC South Shields branch closure: All you need to know including dates and alternative branches
The closure was announced as part of a plan to close more than a quarter of its network.
South Shields’ local HSBC branch is set to close its doors this year as part of a series of structural changes at branches across the UK with the bank preparing to close around one quarter of all its in person high street banking options.
This is all you need to know about the closure and how it is expected to impact customers in South Tyneside.
Which HSBC branch is closing in South Tyneside?
The bank’s South Shields branch on Fowler Street will be closing as part of the series of closures across the country.
When is South Shields’ HSBC branch closing?
The bank has confirmed the branch will close its doors for the final time on Tuesday, June 13.
Why is HSBC closing branches across the UK?
According to the bank’s Closure Impact Analysis Report on the South Shields branch, the closures are due to a reduction in customers using in-person banking. The document claims nine in ten people use telephone, internet or smartphone options while 99% of cash withdrawals are made at street ATMs.
HSBC claim a series of considerations were made regarding the impact of the closure on customers. These include the number of vulnerable people who use the branch, the accessibility of other banking services and the number of in-person transactions taking place at a branch.
Where will my HSBC account be administered from after the closure?
All accounts based at the South Shields branch will automatically be transferred to the Sunderland branch, which will remain open. This can be found outside the eastern end of the Bridges shopping centre on market Square in the city.
Account details such as account numbers and sort codes will not change.
Most customers will find Sunderland is their closest branch once the South Shields site closes. Newcastle’s branch on Grey Street will remain open.
South Shields will be one of three North East branches to close with sites at Whitley Bay and Gosforth also closing. These will shut on Tuesday, May 2 and Tuesday, July 18 respectively.