HSBC bank says it will close its Porthcawl branch

The HSBC bank has confirmed that it plans to close its branch in Porthcawl.

A spokeswoman said the decision had not been taken lightly, but that footfall in its branches has plummeted by more than 40% over the last five years.

The decision has been slammed by UKIP AM Caroline Jones who branded it a “backward step” for the town.

She is calling on HSBC’s bosses to rethink their decision due to the effect the closure could have on the “thriving seaside town”.

The HSBC Bank in Porthcawl
The HSBC Bank in Porthcawl

“Porthcawl needs as many banks as possible, especially with the amount of business in the summer. This decision is a backward step both for locals and visitors to the town,” she said.

“I realise people will be able to pay money in at the Post Office, but with three local sub post offices having closed in the past decade, there are often long queues at the John Street office particularly in the summer.”

What happens to customers now?

The bank has written to its customers explaining their decision to close the John Street branch on September 2 and transfer the accounts to Dunraven Place, Bridgend.

The intervention of the AM coincides with a decision by Porthcawl Chamber of Trade Commerce to write to the HSBC expressing their dismay at the closure decision.

Here’s what the bank says

An HSBC spokeswoman said: “We understand branch closures may cause concern for some of our customers.

“We have put in place a number of measures to help, including a partnership with the Post Office, so our customers can still carry out their day to day banking.”

It’s not the first to close in recent times

HSBC’s announcement follows other branch closures in South Wales, including in Aberdare, Treorchy and Porth.

At the time, RCT councillor Andrew Morgan branded HSBC “shambolic”.

Article source: http://www.walesonline.co.uk/news/local-news/hsbc-bank-says-close-porthcawl-11505685