Daniel Zeichner MP has expressed his concern after it was announced that another bank branch will be closing in Cambridge. The HSBC on Chesterton Road will close, joining several other branches that have gone from the city in the last few years.
A recent study by Which? found that 1,000 bank branches have closed across the UK in the last 2 years. Since January 2015 HSBC has closed 321 branches, 27% of its network, and more branches than any other provider. The report indicated that 20 million adults do not use internet banking, many of these people are old and rely on nearby banking facilities.
Daniel Zeichner MP said: ‘While I can accept that changing habits have an impact on bank branch numbers, what I cannot accept is the rate and scale of banking closures. Many residents need a bank within walking distance to withdraw money and get on with their day, it's become a race to the bottom.”
Kelley Green, who has raised the issue with the MP added: 'I am angry about the continual stripping away of services in the name of efficiency. It affects all of us. These last few weeks, residents in Chesterton have had the news that bus services are being re-routed and now one of the banks is closing. I hope HSBC reconsider.”