Thanks to everyone who signed the petition to keep Market Deeping’s HSBC branch open.

On Thursday, Deeping St James Parish Council Vice-Chairman Cllr Andrew Bowell, Deepings Business Club Chairman Andy Pelling, Market Deeping Deputy Mayor Cllr Pauline Redshaw, and myself, met with HSBC to discuss the planned closure.

Very much as we had feared, it quickly became clear from our discussions that the decision to close the branch is a done deal. I understand that HSBC have already begun to make arrangements to dispose of the property. We nevertheless made sure that we used the opportunity to voice the feelings of many that the loss of the branch will have a negative impact on the town and affect many.

Suggestions were made about whether HSBC could consider downsizing to maintain a presence in Market Deeping at a lower cost, as well as varying opening times so that they might suit more people. These were rejected, as we were told HSBC had already considered various options to keep the branch open.

We expressed concerns about the lack of notification of the closure that many have raised and it seems that the bank has only written directly to customers with accounts at the branch or others who have used the branch several times in the past months. I said that this criteria would miss many HSBC customers in the Deepings who have accounts based at their other branches but may still use the branch, even if less frequently.

The focus of our meeting became the impact of the closure on local residents and businesses, and the alternatives available.

I was disappointed to hear that whilst HSBC are currently working on an agreement which should allow business customers to use Post Office branches, this is not likely to be in place before the closure and so businesses in Deeping will have to wait until this alternative is available.

We presented the petition and highlighted some of the common themes in the comments that have been made. I pointed out that whilst some of the concerns expressed may be addressed by the facilities available for personal customers at the Post Office, it is perhaps an indication of a communications failure by HSBC to ensure customers are aware of this.

The Access to Banking Protocol, which has been agreed by Government and the banking industry, is effectively a step-by-step guide on how to close a branch. It sets out the process banks should follow. I’ll be looking to see that HSBC meet their obligations under the protocol, including publishing an impact assessment of the closure. Sadly this won’t influence the closure plan but it may help us to ensure we fully understand the implications for our area, the challenges that will result, and help guide how we might overcome them.

Naturally, I’m very disappointed that HSBC are to proceed with the closure despite the many problems raised by residents. This follows a pattern of bank closures across the country. I’ve heard from many who have said they will leave HSBC with the closure of the Market Deeping branch. Perhaps this may at least increase the number of users of the Barclays and Norwich and Peterborough to help keep those viable.

Unfortunately HSBC at today’s meeting weren’t able to give any more details about the disposal of the property. It is very much my hope that an alternative use can be quickly found which is sensitive to the character of the building and prominence of its location in the heart of Market Deeping.

Our HSBC may be closing but this issue does not close with it. I will be interested to hear from residents and businesses of their experiences once the bank is closed and will look to help to make sure the alternative provision meets their needs, and of course that we do not lose any more of the town’s financial institutions which have such an important role to play.