Frome HSBC set to close
By Susie Watkins
30th Nov 2022 | Local News
The Frome branch of HSPC in Market Place is set to close as part of the latest round of banking closures.
One hundred and fourteen branches are closing, with the bank saying the closures are due to fewer people using an actual location to do their banking.
An HSBC statement said: "The decline in branch use has accelerated so much since the pandemic that some of the branches closing are now serving fewer than 250 customers a week."
A reported 97.5% of all HSBC banking transactions now take place online.
The Frome branch, along with the one in Wells, is scheduled to close in June 2023. That will leave the nearest HSBC branch in Trowbridge.
Sarah Dyke Liberal Democrat Parliamentary Candidate for Somerton and Frome has called for an emergency meeting with Mendip District Council and HSBC.
She said: Banking facilities in Frome are diminishing and closing this branch will impact vulnerable and elderly residents who rely on the bank for vital services. Sarah and the Somerton & Frome Lib Dem team have started a petition against the closure. If you would like to support and sign the petition it can be found here.
Sarah said "I am disappointed that HSBC have chosen to make this decision now in the middle of a cost of living crisis. Staff will lose their jobs and local residents, charities and businesses will have to travel further to use in-branch services.
"It is vital that everything that can be is done to stop the closure. It's simply unacceptable to expect older and more vulnerable members of our community to have to commute to Trowbridge or Bath just to visit their bank. These plans do not take into account the impact it will have on our community. It seems HSBC are happy to put profits before their customers yet again.
"There is a cost of living crisis and HSBC is putting a barrier between some of the least well off and crucial financial services. HSBC need to reconsider these proposals."
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