HSBC closes 'branch for the rich'

HSBC closes 'branch for the rich'

Rich people use the internet, too. HSBC is blaming the rise in online banking for its decision to shut down a branch in Poole that caters only to wealthy customers.

Opened for 'premier' customers in 2007, the branch near millionaire's playground Sandbanks in Dorset requires customers to have £50,000 in savings, a £200,000 mortgage or a £100,000 mortgage plus a salary of £75,000 if they want to speak to a teller.

'Normal' customers are allowed to use ATMs but have to travel three miles to another branch if they want to talk to a staffer about their finances.

However, after eight years, from 6 November the great and the good will have to mix with the riff-raff as the branch shuts.

A bank spokesman told the Mirror: "The lease on this premises is due to expire shortly, plus with increase in the use of online and telephone banking leading to declining branch usage, we have taken the difficult decision to close the branch."
 

Comments: (1)

A Finextra member
A Finextra member 28 August, 2015, 12:55Be the first to give this comment the thumbs up 0 likes

I guess the initial assumption was "rich people do not use Digital" - funny :) 

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