Announcement: Southgate HSBC to close

Dear Stephanos Ioannou,

I am writing to let you know that, following the press announcement on 19 January 2021, HSBC UK is today writing to customers of Southgate Branch to confirm the closure of their local HSBC UK branch on 23/07/2021.

The decision has not been taken lightly and reflects the need to maintain a sustainable branch network for the benefit of our customers. Over the past five years, the number of customers using HSBC branches has fallen by a third. Nine in ten customers’ contact with the bank is now completed via the telephone, internet or smartphone and over 95% of cash withdrawals are made at an ATM. These trends, which are well established, have been further accelerated by the COVID-19 pandemic as customers have increasingly moved away from branch banking.

We remain fully committed to serving our customers in all parts of the UK. We are making the biggest investment in our UK business in over ten years, including, customer experience and digital channels. This will be a pivotal year as we grow our franchise in the UK and transform our business for the benefit of our customers, now and in the future.

Whilst more and more customers are now choosing to bank with us using our alternative channels we appreciate that others still value our face-to-face service. Our customers will still be able to access the services that they are used to at our other branches.

We have informed our colleagues at the branch and, wherever possible, will work with them to find them alternative roles with us. Posters will be displayed in the branch giving details of the closure, and we will be writing to every customer of Southgate Branch to provide more information about the closure and the alternative services available to them.

The Post Office remains available to customers wanting cash withdrawals, cash deposits, cheque deposits and balance enquiries. Business customers with a debit card can also pay in and withdraw cash, check their balance and deposit cheques. The furthest Post Office from any of the affected branches is 1.1 miles away.

Individual reports for each location will be available on our website from the 20th January. The reports can be accessed here:

These reports will contain more information about the individual closures and show how we believe each closure will impact their local community. We are fully engaged with UK Finance in the Community Access to Cash pilot which will play an important role in delivering tailored banking services that meet local needs.

Our branch staff will be available to explain alternative ways of banking and will proactively contact customers who may have difficulty accessing these. We will offer one to one appointments providing support, including training on telephone and internet banking. If any customer cases are raised with you, I would be grateful if you could let me know.

Please let me know if you would like to arrange a call to discuss further.

Yours sincerely,

2 thoughts on “Announcement: Southgate HSBC to close

  1. This is totally unacceptable we need a branch in Southgate as you have closed Cockfosters . And other branches .. going to the post office dies not cater for all our Bank problems.. and disabled people do not want to go to the post office which is already vet busy and stand and wait to be served .. you e we I’ll see that people will go to other banks instead

    1. Hi Irene, I did ask the operating officers in charge of the decision at HSBC why the need for the closure was necessary, and they blame it on the fact people are less inclined to walk into banks as traditionally the case and that things are moving online… quite generic.

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