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Tonbridge HSBC branch closes after physical customer numbers drop

The final of a town’s four big banks has shut.

HSBC has vacated its premises in Tonbridge High Street, with contractors scheduled to arrive soon and remove the signage, CCTV and to take away the cashpoint machines.

It held a prominent position on the High Street
It held a prominent position on the High Street

It means that the town has now lost all the big four banks - HSBC, Barclays, Lloyds and NatWest.

And there is even a question mark over the future of the town’s post office, which is temporarily located at the castle.

Tonbridge and Malling Borough Council is in the middle of a review of the castle’s future and despite many suggestions put forward, such as a café, bar or residential use, it is not clear that there will be a permanent place for the Post Office.

Cllr Mark Hood (Green) said: “This latest closure is very worrying. There is now nowhere for businesses to bank in the town.

“They need to be able to bank daily cash takings and secure change for their tills. We still have the Halifax, Santander and Nationwide in the town, but so far as I am aware, none of them offer business accounts.”

Cllr Mark Hood: It's worrying
Cllr Mark Hood: It's worrying
The HSBC has closed
The HSBC has closed

“I know one trader who is now having to travel to Paddock Wood every day to bank.”

The Judd ward councillor suggested the town needed a banking hub.

Some have been set up in other parts of the country, run by the LINK organisation and operated by post office staff, and offer a cash banking service to customers from any of the banks.

Cllr Hood added: “The rate at which banks are closing is very worrying; it’s not just in Tonbridge, but across the country. Something must be done.”

HSBC didn’t own its premises at 100 High Street, but is handing the building back to the landlord. It is not known what any future use might comprise.

Could a LINK banking hub be the way forward?
Could a LINK banking hub be the way forward?

The Grade ll listed building is in a very prominent position on the corner with River Walk, alongside the bridge and within sight of the castle – which is a scheduled Ancient Monument.

The site also lies within the Tonbridge Conservation Area.

HSBC had announced its intention of closing the Tonbridge branch back in November of last year, with the shutters finally came down on Tuesday, July 25.

The decision was made due to the number of customers physically going into banks dropping by 65% in the past five years as online banking became more common.

The nearest HSBC branch is now at Mount Pleasant Road, Tunbridge Wells.

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