I've called on HSBC to reconsider their disappointing decision to close their branch in Exmouth. It's not in the interests of our communities in the town and surrounding areas. Please find my letter to HSBC UK's Chief Executive Noel Quinn below.
22nd January 2021
Dear Mr Quinn,
I hope you are well.
Thank you for your letter dated 19th January 2021 announcing the closure of your branch in Exmouth on 13th August 2021.
I am writing to express my disappointment and request an urgent review of this decision.
Many residents and long-standing customers have been in touch with me over recent days to highlight the importance of personal, face-to-face contact for their banking needs.
While I am acutely aware bank branch closures are taken on a commercial basis – balancing customer interests, market competition, and other commercial factors – I would like you to please set out detailed reasoning and the steps you are taking to mitigate the impact of the closure locally.
Headline national statistics about telephone, internet and smartphone banking and ATM use do not fairly represent East Devon’s age demographics or semi-rural location, with your nearest branch at Sidmouth being nine miles away and a 30-minute drive.
While the government does not intervene in these decisions, Ministers reiterate in line with the Access to Banking Standard that the impact of branch closures should be understood, considered, and mitigated where possible so that all customers continue to have access to over the counter banking services.
I know HSBC’s branch helps maintain a vibrant local economy in Exmouth. It’s an essential local service, including banking and cash handling for businesses and individuals alike.
I would be grateful if you could look again at this decision as a matter of urgency in the interests of our communities in Exmouth and surrounding areas.
Simon Jupp MP
Member of Parliament for East Devon