Honiton’s MP Richard Foord condemns impending closure of HSBC

Yesterday HSBC announced that the Honiton branch of HSBC will be closing in June 2023. 

114 branches of the UK-based bank will be closing. The company cited substantially reduced footfall as the reason. 

It has not yet been announced what will happen to the employees who currently work in the branches. 

Richard Foord is the MP for Tiverton and Honiton. He responded to the announcement and said: "Rural communities like ours have seen bank branches in steady retreat for years now. As these local facilities fall away, more people and businesses are left high and dry, with no access to services. 

"This new announcement means HSBC customers will not have access to a single branch in East Devon, meaning they have no choice but to travel great distances at their own expense to access their bank. 

"The rise of online services has changed the way some people do their banking, but this is not universal – particularly for older residents who still rely on physical facilities and human interaction. 

"We cannot allow people to be cut off from accessing their own money. We need action to address this crisis before the final few bank branches also shut up shop for good. 

"When Lloyds Bank closed in Axminster, people there were told they would have a new 'Banking Hub', yet to date we've seen no action to deliver on this. 

"It's clear we need proper community banking hubs, working in tandem with the Post Office, to ensure everyone can access proper banking services – regardless of who they bank with. 

"I will be writing to the Local Government Minister to urge the Government to step in, help establish these hubs, and protect people's access to cash." 

The Sidmouth branch of HSBC closed in September. It means that the closest branch to Honiton is in Exeter.