HSBC Milton Keynes survives mass closures announced for 2021

HSBC announced the closure of 82 branches citing customers' pivot towards online banking as a key factor.

The banking giants will still have 511 branches operating in the Uk, including the one that remains operational in Milton Keynes.

HSBC have said they plan to redeploy staff at closing branches within a 15-minute commute of their homes.

Jackie Uhi, HSBC UK's head of network, said: "The Covid-19 pandemic has emphasised the need for the changes that we are making.

"It hasn't pushed us in a different direction but reinforces the things that we were focusing on before and has crystallised our thinking. This is a strategic direction that we need to take to have a branch network fit for the future."

Figures released by the bank stated that only 10% of its interactions with customers happen in store. Online banking, social media and telecommunication has overtaken face-to-face interactions.

HSBC said all but one of the branches scheduled for closure were within one mile of a Post Office. Meaning customers who still prefer to do their banking in person can collect and deposit money manually.