For sale - or to let - board goes up on the HSBC branch in Frome

By Susie Watkins

29th Apr 2023 | Local News

The sign is up on this Frome marketplace bank
The sign is up on this Frome marketplace bank

For sale or to let board has gone up on the HSBC branch in Frome.

The bank will be closing in June, while diagonally opposite the NatWest on the corner of Cork Street is closing May 11.

The company behind the marketing of the property has four other sites for sale and /or lease in the town, three units within The Westway.

The rent on the HSBC branch is set at £37,500 a year.

HSBC made the decision to close - which will happen on June 6 - because of changes to the way customers are now banking. It says on its web site:

Changes in the way customers are choosing to bank with us has seen the number of customers using HSBC UK branches fall by a third over the past 5 years. Nine in ten customers now transact via Telephone, Internet or Smartphone whilst 99% of cash withdrawals are made at an ATM. In reaching the decision to close this branch we considered: • the number of personal and business branch users affected • the number and type of transactions being undertaken by personal and business users • current alternative channel adoption by customers using this branch • the number of vulnerable and other branch users who are more dependent on their branch than others (including but not limited to customers that are disabled, elderly, digitally excluded and/or lower income customers) • the distance to, and accessibility of, alternative banking services.

     

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