Stamford's HSBC closes

Stamford's HSBC closed yesterday, Tuesday 16 May 2023.

Initially scheduled for shutdown in April, the closure of both the Oakham and Stamford HSBCs was confirmed earlier in the year.

Time finally came for the Stamford branch of the nationwide banking chain yesterday, when the bank closed its doors for the last time.

HSBC will also be closing the Oakham branch this year, once a banking hub has been developed in the county town of Rutland.

On top of this, the Sleaford branch of Barclays closed in March 2023, creating a shortage of banks locally.

HSBC says that the number of people physically going into banks has fallen by 65%, with 97.5% of all its banking transactions now being made online. They added that this has been hastened by the Covid pandemic.

Meanwhile, the number of customers using online banking has almost tripled since 2017.