HSBC to close branches in Farnham and Petersfield – but Alton survives the chop

By Daniel Gee   |   Head of Content   |
Sunday 27th March 2022 6:00 am
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The future of the imposing building at 30 The Square, Petersfield, previously a Midland Bank branch, and before that home to a Bank of England branch, isn’t yet known
The future of the imposing building at 30 The Square, Petersfield, previously a Midland Bank branch, and before that home to a Bank of England branch, isn’t yet known (The Petersfield Society )

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HSBC has announced its branches in Farnham and Petersfield are among 69 set to close this year – just a year after it closed 82 other branches.

The Borough, Farnham, branch is set to close on August 2 and The Square, Petersfield, branch will follow on September 22.

But Alton’s HSBC branch has so far survived the chop.

It potentially brings to an end The Midland Bank’s, and latterly HSBC’s, 101-year presence at 33 The Borough, Farnham – which was previously occupied by draper AJ Bentall.

Petersfield’s branch at 30 The Square was also previously a Midland Bank branch, and before that home to a Bank of England branch.

The future of both buildings isn’t yet known.

HSBC says the closures are a result of more and more customers choosing to bank online rather than in person.

The bank said fewer than 50 per cent of its customers now regularly use its banks, with footfall dropping sharply over the past five years.

Jackie Uhi, head of HSBC’s UK branches, said: “We know 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.

“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”

Since 2015, banks and building societies have closed, or scheduled the closure, of 4,782 branches, around 54 branches a month.

The first HSBC branches will begin to close in mid-July.

Farnham’s closest HSBC branches after the closure will be in Farnborough, six miles away, and Alton, nine miles away. Petersfield’s closest will be in Waterlooville, ten miles away.

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