MP: Bank closure is blow to Torquay harbourside

The exterior of the HSBC branch on The Strand, Torquay

The HSBC branch on The Strand, Torquay, will close on May 28. - Credit: Jaggery (cc-by-sa/2.0)

The closure of HSBC's branch on The Strand, Torquay, has today been described as a blow by the town’s MP, Kevin Foster.

In a letter to him, the banking giant has confirmed it will be closing its branch in Torquay on Friday, May 28, as part of plans to close 82 branches across the UK.

The Strand is one of Torquay’s key tourist and leisure locations, yet recent times have seen it affected by issues affecting other town centres and moves by customers to shop and bank online.

The letter to Mr Foster states: "We will work over the coming months to support customers who face particular difficulties as a result of the closures.

"We have informed our colleagues at the branch and, wherever possible, will work with them to find them alternative roles with us"

The latest news follows the previous closure of an RBS branch and the impending closure of the large Debenhams department store on The Strand, making it even more vital regeneration plans under the Torquay Town Deal, which are being backed by significant Government Funding, get underway quickly.

Heads of Terms for the £21.9m Torquay Town Deal were signed last week by the Secretary of State for Housing, Communities and Local Government and Torbay Council.

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The Town Deal is based on delivering the wider Town Investment Plan, which includes plans to revitalise The Pavilion and regenerate Union Street, along with significant improvements to The Strand itself.

Mr Foster said: “This news is a further blow for Torquay’s key harbourside area, yet the level of investment being offered by the Government for the Torquay Town Deal to turn things around is significant.

"We must do all we can locally to move this project forward, especially the plans to revitalise the Pavilion and improve The Strand which are part of it.”

Following the closure, HSBC will automatically transfer the administration of customer accounts to its branch in Palace Avenue, Paignton.

All HSBC UK and first direct personal current account customers can access their bank account at Post Office branches for cash withdrawals, cash deposits, cheque deposits and balance inquiries.

Business customers with a debit card can pay in and withdraw cash, check their balance and deposit cheques.

The nearest Post Office to the closing branch is in Torwood Street.