HSBC Church Street To Close Permanently

February 16, 2022

HSBC Church Street branch will “close operations permanently” effective June 30, 2022, the bank advised today, adding that staff “working at that location will be redeployed to support the Harbourview Center, St Georges & Somerset branches, which remain open for business as usual.”

A spokesperson said, “HSBC Bermuda advised today that effective immediately the HSBC Church Street branch will be available for by-appointment safe custody services only and that effective 30 June 2022, the HSBC Church Street branch would close operations permanently.

“Staff working at that location will be redeployed to support the Harbourview Center, St Georges & Somerset branches, which remain open for business as usual.

“The Bank noted that by redeploying their Church Street staff to other branches and roles within the Bank, the closure provides increased capacity for quality face-to-face services in the remaining 3 locations. Customers requiring teller and account opening services will be redirected to one of these branches.”

Tanya Bule, Head of Wealth, Personal Banking and Marketing stated: “Our goal is to modernize and digitize our customer service offer as our clients increasingly move away from cash-intensive, in-person transactions, towards always-available, digital banking channels.

“We’ve recently completed the first phase of refreshing the layout of the Harbourview Branch, to better direct customers and encourage the use of digital solutions, such as tablets and dedicated internet banking stations. Further work to improve the layout and service functionality will continue throughout 2022 to support the increased customer footfall on a permanent basis.”

“Safe custody holders at the Church Street branch will be provided with guidance on the steps required to close their safe custody box and, where desired, reopen one at the Harbourview location.

“The Bank also advised it would consolidate some of their banking teams currently at the Compass Point building into the Harbourview Center location. Available space in the Compass Point building would subsequently be made available for lease to commercial tenants.”

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Comments (7)

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  1. Deborah says:

    Ok…so closing permanently and redeploying staff. The latter great news as no one losing job. With the huge savings, HSBC please provide a live person(s) in Bermuda to answer and direct calls. I cant stand being channeled to God knows where (overseas) for assistance with an HSBC inquiry. 95% of the time channeled to wrong dept or no answer at all and I have to physically go to HSBC for resolution! ITS FRUSTRATING! AWEFUL IN FACT! Thank goodness as an example, that BELCO has maintained a live person to assist with service when there is no answer from “dial A; B or C”, and that is very rare! An on-island person is always available!

    • Dee says:

      I would disagree with you on HSBC call center, how it works now leave it.
      Very convienient 24/7 hotline nice kind professional people.

  2. Toodle-oo says:

    Yet another depressing sign of the downward spiral this island is in.
    I’d be highly surprised if there are no redundancies though.

  3. Susie says:

    I agree with Deborah regarding the call center, takes a very long time to answer…same as Butterfield bank…both channel you overseas…definitely would be nice to talk to someone locally.

    • sandgrownan says:

      Look, folks, retail banking is dying.

      There’s really limited need – more people get paid electronically, more people perform their transactions, pay bills electronically. Expensive real estate and warm bodies cost money. Meh, this is a nothing story.

      The only time I’ve been into a bank on two years is to pick up a credit card. That’s it. Plus, it has the added advantage of not having to deal with tooth sucking Bank tellers. And that’s both Banks.

      Call centres are expensive. It’s simple economics, and cheaper to pay the agent in Canadian Pesos.

  4. Rig says:

    It would be nice if the ATMs worked once in a while there though – what a mess HSBC.

    • sandgrownan says:

      well, they’ll be gone too.

      But, like i said with comments on retail banking, use of cash is declining. Don’t need as many ATM’s.