Stirling is set to lose another bank branch next summer - with the move being described as “another nail in the coffin” for the high street.
A “comprehensive review” from banking giants HSBC on their branch network has concluded that it is to close 114 branches in the UK from April 2023, with enhanced investment being made in improving their digital offering.
The list of closures has revealed that the city’s branch on Murray Place will close on June 6 - with the nearest HSBC branch to be situated in Glasgow.
It follows a trend of branch closures from several banks across the region as in-person services are increasingly phased out in favour of online and digital banking.
Bannockburn, Balfron, Dunblane and Killin are among some of the local spots affected by losing branches in recent years - with banking services at the post office in Bridge of Allan also coming under threat.
Jackie Uhi, HSBC UK’s Managing Director of UK Distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning.
“Banking remotely is becoming the norm for the vast majority of us. Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit.
“Branches will continue to play an important role in day-to-day banking, while providing specialist face-to-face support in moments that matter.
“In addition to our branch network, customers can access services through the Post Office network, our community pop-ups and soon-to-come banking hubs, alongside live chat, social media and through telephone banking.
“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”
Stirling MSP Evelyn Tweed said: “I am concerned to hear that HSBC have announced plans to close 114 branches across the UK next year, including the Stirling branch. After this branch is closed, the nearest branch will be in Glasgow.
“During this cost-of-living crisis, it’s vital that the public feel they have easy access to their local bank.
“Many people feel less comfortable with online or telephone banking or lack the phone signal or quality of internet connection to access these services, so an in-person presence of their bank is very important.
“The closure of this branch has an impact not only for HSBC’s customers across Stirling, but also for those employed there.
“I will contact HSBC on behalf of my constituents to enquire if the branch must close, what services will be offered to people especially those in remote areas or who are digitally excluded and what will happen to the staff that work there.”
Mid Scotland and Fife MSP Alexander Stewart slammed the decision and said: “I am appalled that HSBC will close their Stirling branch in June 2023.
“This is another nail in the coffin for the community, the high street and businesses alike.
“Having local branches is vitally important for older people who may not have the means or opportunity to deal with digital banking.
“I believe that these processes have been brought into force a generation too soon and they are proportionately disadvantaging older people.
“Local businesses also require the stability of a branch to ensure that they have flexible opportunities to have cash on their premises.”
