Following a review of the bank’s branch network in Jersey, HSBC will permanently close the Halkett Street and Five Oaks branches in 2024.
The Halkett Street branch will close in January 2024, following the re-opening of the island’s flagship King Street branch, which is currently undergoing a major seven-month refurbishment programme. The Five Oaks branch will close in August 2024.
The decision to re-shape the network and invest in a wider package of support and different formats follows an increasing preference for online and mobile banking, along with a reduction of in-branch transactions.
HSBC will continue to support customers across the island with both a branch presence and digital banking services, which reflect the changing needs of customers.
No jobs are being put at risk as part of this change programme.
Commenting on the announcement, Interim Head of Wealth and Personal Banking HSBC Channel Islands and Isle of Man, Cameron Senior (pictured) said: “The way people bank is changing – something the pandemic has accelerated.
“We know from our review that the majority of customers have a preference to do much of their day-to-day banking digitally, and while we’ve seen a significant reduction in the number of customers using our Halkett Street and Five Oaks branches, we’ve developed a model that provides islanders with both the opportunity for face-to-face servicing as well as online banking products and services.”
Head of Commercial Banking for the Channel Islands and Isle of Man, Aline Ayotte, added: “All our customers, both commercial and personal, are extremely important to us. We are discussing the network changes with our clients and will be supporting them through the transition process with the help and assistance they need.”
Commenting on the change programme, Head of HSBC Branch Network for the Channel Islands and Isle of Man, Alistair Philp, said: “Throughout this transition period, we’ll be working closely with our teams and customers, especially vulnerable customers, to ensure we continue to offer excellent service that reflects the different ways our customers are choosing to bank with us. The bank is making significant investment in its flagship King Street branch and a further refurbishment programme is being reviewed for the St Brelade branch towards the end of next year.”