Branch Closure Impact Analysis South Molton Branch February 2016
Introduction This document provides a summary of the impact assessment for the closure of South Molton branch based on internal analysis and local community engagement. HSBC supports the industry wide Access to Banking Protocol (ABP) introduced by the British Banking Association (BBA) in May 2015. 1) Background Information a) Local Information (Source: Office for National Statistics www.ons.gov.uk) The population is circa 5k The average age is 44 years; above England s average of 39 23% of the population is retired; above that for England (14%) The level of unemployment is 3%; below England s average of 4% 21% of households do not have access to a car; below England s average of 26% b) Broadband Availability (Source: www.uswitch.com) Superfast broadband is available with reported speeds of up to 76 mbps c) Closing Branch Details Branch Name: South Molton (404229) Region: South Opening Hours: Mon-Fri 09:30-15:30 Announcement Date: 14 December 2015 Closure Date: 11 March 2016 at 15:00 Last Bank: No d) Merger Branch Details (Accounts will be managed by this branch. Account details will not change.) Branch Name: Barnstaple (400913) Distance: 11.5 miles Opening Hours: Mon/Wed/Thu/Fri Tues 09:00-17:00 09:30-17:00 09:00-14:00 Page: 1
2) Alternative Ways to Bank a) Alternative HSBC Branches Branch Name Opening Hours Distance (401017) Mon/Wed/Thu/Fri Tue 09:00-17:00 09:30-17:00 18.5 miles (404418) Mon-Fri 09:30-16:30 18.5 miles b) Parking Locations near Alternative Branches Barnstaple Cattle Market Holland Street 4 mins away 2 for 2 hrs Barnstaple Queen Street 4 mins away 2 for 2 hrs The Quay 1 min away 1.80 for 2 hrs Bridge Street 3 mins away 1.80 for 2 hrs Beck Square 2 mins away 2.10 for 2 hrs Phoenix Lane 3 mins away 1 for 5 hrs c) Local Public Transport to Alternative Branches Transport Service Destination Frequency Time For Journey Bus Barnstaple 1-2 per hour 30-42 mins Bus * 2 per day 50 mins *Bus times are 11.50 & 13.50 No direct transport links to branch You can also carry out most day-to-day banking transactions by calling HSBC customer service specialists on 03457 404 404. Alternatively you can manage your account using the HSBC Online Banking service or the HSBC Mobile Banking App available on iphone, ipad, ipod touch, Android TM and BlackBerry 10 devices. If you d like more information on alternative ways to access your account(s) or to register for telephone and/or Online Banking, visit the HSBC website at hsbc.co.uk/waystobank or any HSBC branch. Page: 2
d) Alternative Banking Facilities i) Competitors Competitor Location Distance Opening hours Cash Machine Nat West South Molton 0.0 miles Mon/Tue/Thu/Fri 09:00-16:00 24 hrs Wed 09:30-16:00 Barclays South Molton 0.0 miles Mon/Thu/Fri 09:30-16:00 24 hrs Lloyds South Molton 0.1 miles Mon/Tue/Wed/Fri Thu 09:00-17:30 08:30-17:30 09:00-12:30 During Opening Hours ii) Post Office Facilities All HSBC and first direct personal current account holders can use the Post Office for cash and cheque deposits, withdrawals and to check their account balance. From 22 February 2016, business customers with a business debit card will be able to carry out cash withdrawals and cash deposits and a current account balance check. The nearest Post Office is: Location Distance Opening Hours Cash Machine Broad Street South Molton 0.0 miles Mon/Tue/Wed/Fri Thu 09:00-17:30 08:30-17:30 09:00-12:30 No iii) Fee-Free ATMs and PayPoint Locations (Source: www.link.co.uk) These local stores have a range of cash machine, PayPoint and cashback services available. Store Location Distance Opening Hours Spar Reepham 0.0 miles Mon-Sun 07:00-22:00 Sainsbury s South Molton 0.3 miles Mon- Sun 08:00-22:00 10:00-16:00 There are 5 ATMs within a 0.5 mile radius, all of which are fee-free. As there is access to fee free cash in South Molton, HSBC will not be installing an ATM following closure. Page: 3
3) Community Engagement HSBC has written to customers of South Molton branch to advise of the decision to close and to offer support and training on alternative channels if required. One-to-one appointments are offered to provide customers with advice and practical solutions; including training on telephone and Online Banking where appropriate. In line with the Access to Banking Protocol HSBC provides 12 weeks notice of the closure to allow time for customers to consider their options. HSBC relationship managers are also proactively contacting their customers to advise of the closure and to answer any questions. Local HSBC business managers have discussed the closure and the options available with their customers. Branch employees continue to be available to talk through the many alternative ways of banking which are open to HSBC customers. HSBC branch employees have met, and will continue to meet with, vulnerable customers who may have problems accessing alternative banking facilities. HSBC contacted Peter Heaton-Jones MP to advise of the closure and offered to meet to explain the reasons for closure and to discuss how HSBC is supporting its customers. HSBC contacted the South Molton Town Council, South Molton Business Association and the Barnstaple Citizens Advice Bureau; providing contact details for customers to call should customer queries or concerns be brought to the attention of these organisations. Part of the analysis used to inform the decision to close this branch considered: The number of personal and small business branch users affected The age profile of branch users (i.e. both older and younger users) The number of vulnerable and other branch users who are more dependent on their branch than others (including but not limited to customers that are disabled, elderly, digitally excluded and/ or lower income customers) An analysis of potential future service users The availability of alternative ways to bank for customers who live locally or travel to use this branch is considered suitable. For further information please contact Barnstaple on 03455 833 649. Braille, Large Print and Audio copies of this document can be provided upon request. All information provided was correct at the time of publication. Page: 4