branch in Burnham-On-Sea's College Street shuts down
shut its branch in Burnham-On-Sea for the final time on Fridayas
part of a nationwide cost-cutting move.
blamed a sharp 28 per cent reduction in customers at the branch
for the "difficult decision" to shut it.
to shut the branch in College Street were first reported by Burnham-On-Sea.com
MP James Heappey said the closure "is deeply disappointing"
and he criticised the firm's decision, advising customers to support
other banks with branches in the town.
HSBC spokesperson told Burnham-On-Sea.com: "We continually
review our branch network to make sure our branches are in the right
locations for our customers and we have a sustainable network for
the past five years, we have seen footfall reduce by an average
of 28% at our Burnham-On-Sea branch and based on this, we have made
the difficult decision to close the branch."
is not a decision we have taken lightly and we will work closely
with those impacted, including customers, to help them understand
"With regard to the Burnham-On-Sea branch, we have advised
our customers that there is an alternative branch in Bridgwater
should customers wish to visit a branch and talk to a member of
the HSBC team face-to-face."
"That said, 93% of contact with the bank is now completed via
the telephone, internet or smartphone, plus 97% of cash withdrawals
are made via an ATM. As a result, most of our customers are already
carrying out their daily banking needs without need of the branch
addition to mobile and internet banking, we have put in place a
number of measures to help customers, including a partnership with
the Post Office which has a branch a three minute walk from the
Burnham-On-Sea HSBC branch."
Burnham's MP James Heappey told Burnham-On-Sea.com: "I am deeply
disappointed that HSBC is closing its branches in Burnham-On-Sea
and Shepton Mallet."
HSBC are offering opportunities for all affected staff in other
branches, my first concern is with those whose jobs are affected."
"HSBC argue that the branches are no longer viable as more
and more customers are choosing to bank online."
"But this is the same story as weve seen from HSBC and
other banks in other towns across the Wells Constituency and across
the country. Undoubtedly more and more people are willing and able
to do their banking online but there is scant regard for those who
cannot travel to other nearby branches, are unable to use the internet
and for small businesses who need a nearby facility to bank their
cash every day in order to remain within in the terms of their insurance
policies. HSBC will offer the post offices in Burnham and Shepton
as an alternative but Post Office are not able to offer a full range
of services; especially for small businesses. Theyre not able
to do this because the banks wont let them!"
"I strongly encourage both business and personal banking customers
to switch their accounts to other banks in the towns. The banks
look simply at the amount and value of business done in a branch
and so the best way to guard against further closures is to make
sure that remaining banks are rewarded with as much business as
He added: "It is hugely frustrating that yet more bank branches
are closing and there is no escaping that for some in our community,
there is no option other than banking in person, over the counter
in a local bank. Until post offices are empowered to offer a full
service in lieu of a bank and until cashless facilities are available
to small businesses without significant transaction fees; it is
disingenuous for our high street banks to claim that they can close
branches without impact. I will continue to push them hard on these
Meanwhile, HSBC says that customers who have questions about the
closure should contact the bank's community communication team on
Freephone 0800 243 364 or via HSBCcommunitycomms@grayling.com.