HSBC is to close its Wellington branch early in the New Year. Staff at the bank were told this week that the town branch is on HSBC’s list of over 100 branches due for the chop.
Across the country, HSBC has closed 78 branches already in 2016 and has announced plans for another 53 to in the near future.
The Wellington branch has been in the town on the corner of South St and Fore St for over 50 years and was formerly the Midland Bank.
There are now just three major banks serving Wellington; Barclays, NatWest and LloydsTSB with Bath Building Society having a sub-branch at MJC Financial in South St.
Nationally the big five High St banks have closed over 800 branches this year alone with West Country towns and rural communities hardest hit. Overheads per live customer are rising fast as more and more people switch to online banking.