BIRA has said it is concerned that the high street bank were taking the measures announced this week. HSBC has announced it will close the branches in April, causing around 100 people to lose their posts, however they would try to redeploy those staff.
It is thought that this move will further dampen the footfall to the high street, while also lessening the support that independent shops would be getting.
Andrew Goodacre, ceo of BIRA said: “With this announcement from HSBC, we see another example of large corporations deserting the high street and local communities. The excuse of online banking becoming dominant does not take into account the impact on people and businesses.
“Cash is still used in business and in the current Cost of Living Crisis, we are seeing more cash being used by shoppers. Businesses therefore need banks to help them manage the cash and ensure the business meets the needs of customers.
“We also have concerns for people who do not use online banking. If banks are going to close down branches and leave the high street then we need to see a quicker roll out of the banking hubs so that vital services are retained. I could understand it better if these banks were losing money, but we know that is not the case.”