Introduction
HSBC just made a promise that’s becoming increasingly rare in British banking: they’re keeping every single one of their UK branches open until at least 2027. The bank’s backing this up with a £55.8m investment in 2026, a 30% jump from this year’s £42m spend. It’s a notable move in an industry that’s shed over 6,000 branches in the past decade, and it comes as customers increasingly worry about accessing cash and in-person banking services.
HSBC Doubles Down on Physical Banking
Europe’s biggest lender isn’t just making empty promises. HSBC UK is pumping serious money into its 327-branch network, recognising that plenty of customers still value face-to-face service for complex banking needs.
Sally Williams, who heads up HSBC UK’s branch network, put it plainly: “We are investing heavily into our physical network so that we can continue to service our customers, including those with more complex needs who value in-person interaction for those moments that matter.”
This extends last year’s commitment, which only ran until 2026. Now they’re adding another year to the guarantee.
The Context: Britain’s Disappearing Branches
Let’s be honest, HSBC’s had its own role in the branch closure trend. They’ve shut 743 branches since 2015, according to Which?. Across the industry, Barclays and NatWest have led the closure spree, contributing to that eye-watering 6,000+ figure.
By the end of 2025, another 432 bank branches are expected to close their doors for good.
Why This Matters: The Cash Access Crisis
A Treasury Committee report earlier this year warned that Britain risks becoming a “two-tier society” if cash access issues aren’t addressed. Vulnerable groups—think elderly customers, small businesses, and rural communities—are hit hardest when branches disappear.
The government’s trying to plug the gap with 350 planned banking hubs, and the FCA now requires banks to assess how closures impact customers’ ability to access cash. But these measures only go so far.
Christopher Dean, managing director of wealth, premier and personal banking at HSBC UK, framed the announcement as a long-term play: “Extending our branch promise until at least 2027 reinforces our long-term commitment to local communities and the high street.”
Nationwide Started This Trend
HSBC isn’t the first to make this move. In November, Nationwide committed to keeping all its branches open until 2030, a full three years longer than HSBC’s pledge. The building society reported rising branch visits and has successfully poached customers from bigger banks with attractive switching offers and that extended branch guarantee.
It’s working. Nationwide’s strategy shows there’s still genuine demand for physical banking, and HSBC’s clearly taking notes.
What This Means for Customers
If you’re an HSBC customer who values in-person banking, you’ve got guaranteed access until at least 2027. That’s particularly important if you’re managing complex financial matters, run a small business that handles cash, or simply prefer talking to a human when making major decisions.
The increased investment suggests better service quality too—more staff training, upgraded facilities, and improved customer experience.
But let’s stay realistic. “At least 2027” isn’t “forever.” Once that deadline hits, all bets are off unless HSBC extends again.
Conclusion
HSBC’s branch pledge is good news for customers who value physical banking, but it’s also a clear response to competitive pressure from Nationwide and growing concerns about cash access. The £55.8m investment shows they’re serious, for now. Whether this becomes a permanent commitment or just a strategic pause in the long decline of high street banking remains to be seen.
Want to stay informed about UK banking changes? Keep an eye on branch commitments from your own bank and consider your backup options if closures accelerate post-2027.
FAQ
Q1: Why is HSBC keeping branches open when most banks are closing them?
A: HSBC’s responding to customer demand and competitive pressure, especially from Nationwide’s 2030 pledge. They recognise that many customers—particularly those with complex needs—still value in-person banking for major financial decisions.
Q2: How many HSBC branches are currently in the UK?
A: HSBC operates 327 branches across the UK, down from over 1,000 in 2015. Despite previous closures, these remaining branches will stay open until at least 2027.
Q3: What happens after 2027?
A: HSBC hasn’t committed beyond 2027 yet. They may extend the pledge again (as they did from 2026 to 2027), but there’s no guarantee. Monitor announcements from the bank as that deadline approaches.
Q4: Are other banks making similar commitments?
A: Nationwide’s leading with a pledge until 2030. Most other major banks haven’t made comparable guarantees, with Barclays and NatWest continuing to close branches at higher rates than HSBC.
Q5: Why does cash access matter if most banking is digital?
A: Vulnerable groups including elderly customers, small businesses handling cash, and rural communities often lack reliable digital access or prefer physical banking. The Treasury Committee warned that inadequate cash access could create a “two-tier society” where certain groups are excluded from essential financial services.
DISCLAIMER
Effective Date: 15th July 2025
The information provided on this website is for informational and educational purposes only and reflects the personal opinions of the author(s). It is not intended as financial, investment, tax, or legal advice.
We are not certified financial advisers. None of the content on this website constitutes a recommendation to buy, sell, or hold any financial product, asset, or service. You should not rely on any information provided here to make financial decisions.
We strongly recommend that you:
- Conduct your own research and due diligence
- Consult with a qualified financial adviser or professional before making any investment or financial decisions
While we strive to ensure that all information is accurate and up to date, we make no guarantees about the completeness, reliability, or suitability of any content on this site.
By using this website, you acknowledge and agree that we are not responsible for any financial loss, damage, or decisions made based on the content presented.
