Banking giant, HSBC has announced that it will be closing 69 of its branches across the UK in 2022 including their store at the Merry Hill Centre.

The move is the latest in a series of closures announced by a number of banks including NatWest, TSB, Barclays, Lloyds and Halifax. THe Merry Hill branch will close its doors on July 28th.

HSBC has said that it is closing its branches as a result of 'more and more customers choosing to bank online rather than in person' - something that's been accelerated by the Covid-19 pandemic.

Less than 50% of its customers now regularly use its branch network, with footfall dropping sharply over the last five years. Jackie Uhi, head of HSBC UK’s branch network, said:

“The way people bank is changing. Our branches continue to support people with their more complex banking needs but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.

“Rather than a one-size-fits-all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.

“We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.

“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”

Across the UK the decision to close more branches is set to affect around 400 workers. A spokesperson for HSBC said that they hope to redeploy all of the affected staff to new roles, all within 15 miles of their homes.