Residents - will other banks be axed in town?

The closure of the HSBC branch in Horncastle has sparked fears other banks might close
The closure of the HSBC branch in Horncastle has sparked fears other banks might close

Horncastle residents have admitted they are concerned about the future of other banks in the town after confirmation HSBC is to close its branch.

HSBC revealed last week that Horncastle will be among the 62 branches being axed across the country in 2017.

The group claims more people are using online banking. The closures could mean up to 180 jobs will be lost.

Paul Dutton (34) told the News that the closure was not a surprise.

He said: “I use home banking and a lot of people do these days.

“It’s a generation thing. My mum and dad don’t bank on line because they don’t trust the internet.

“It is a concern more banks could go down the same route but then it’s a problem for all high street shops these days.

“You can buy anything online. It’s often cheaper and is delivered to your door.

“There were too many banks in Horncastle. Something had to give.”

Pensioner Mary Talbot (76) said she opposed the closure.

She said: “Not everyone has a computer and not everyone is happy using the internet.

“One minute they are telling you about all these scams and then next you have to use a computer.

“I am not an HSBC customer but a few of my friends are. One of them only moved her account to Horncastle after the Woodhall Spa branch closed.

“I don’t know what she will do. The nearest branch is Louth. That would be two buses for her to get there.”

Horncastle still has branches of Lloyds, NatWest and Barclays. However, reports nationally suggest all banking companies are looking at the future of branches, especially in smaller market towns.

Francesca McDonagh, Head of Retail Banking and Wealth Management at HSBC, said: “The way our customers bank is changing. More customers are using mobile and internet banking. Fewer people are using branches.”

○No date has been announced for the closure.