PLANS to close another high street bank in Christchurch have been described as “tragic” and a “disaster” for the town.

As reported yesterday, the town is one of five in Dorset which are set to lose their branches of HSBC next year.

The others are Blandford, Shaftesbury, Bridport and Dorchester.

HSBC, which intends to close the High Street branch on July 25, 2023, says 97.5 per cent of transactions are done digitally and that footfall at many branches is at a historic low.

But Christina Pengelly, manager of Christchurch Business Improvement District (BID), said: "It is tragic we are losing another high street bank in Christchurch.

“Even though many people are moving to online services, there is a large section of our population that still prefers to do their banking face to face. Many Christchurch residents come to town for banking services and stay for cafes, restaurants, and shopping.

“I am concerned about the knock-on effect this closure will have. Christchurch has lots to offer in terms of shops and services, but this is just another nail in the coffin for the traditional high street."

Cllr Mike Cox, who represents Christchurch Town on BCP Council, said the decision would be a “disaster” for the town centre.

“I was appalled when they closed Barclays down. I objected vehemently to that. This is a double blow for the town,” he said.

He said many local businesses still needed a physical branch. “It’s a bit of a disaster,” he said.

“When banks are making a decision from a corporate head office somewhere in London, they should have regard to the local community and certainly I would suspect there’s a higher bank usage in Christchurch than other areas.”

He said the banks should consider offering a joint “hub” so the public still had access to counter service.

“I would call on HSBC to do that for places like Christchurch so we do have some banking facilities in the town,” he added.

HSBC has pointed to its intention to spend tens of millions of pounds refurbishing other branches, including the one in Bournemouth town centre.

Jackie Uhi, HSBC UK’s managing director of UK Distribution, said: “Branches will continue to play an important role in day-to-day banking, while providing specialist face-to-face support in moments that matter. In addition to our branch network, customers can access services through the Post Office network, our Community Pop-ups and soon-to-come Banking Hubs, alongside Live Chat, social media and through telephone banking.”

HSBC said Link, the national cash and ATM access network, would consider calls for a banking hub.