Morecambe HSBC bank to shut

The HSBC bank on Morecambe seafront will shut on October 9 and customers have been told their accounts will transfer to the Lancaster city centre branch.

The branch on the corner of Marine Road Central and Pedder Street has been home to a bank for at least 127 years.

Last month HSBC announced plans to cut up to 25,000 jobs globally, including 8,000 in the UK.

The four staff who work at the Morecambe branch will be offered roles at other local branches, said an HSBC spokesman.

“We never take the decision to close a branch lightly, and we understand it’s unsettling for the local community,” he said.

“Unfortunately, use of the Morecambe branch has fallen significantly over the past few years, and we’ve taken the difficult decision to close it.

“We are working with customers who use the branch to help them understand their options, which include being able to use the Morecambe post office to check their balance and withdraw and pay in cash and cheques to their HSBC account.

“There are also fee-free cash machines nearby. We’re working with our employees who work in the branch to find them a role in the local area.”

The Midland Bank began operating from the building in September 1888.

HSBC bought out the Midland Bank in 1992 and rebranded all its branches in 1999.

The property is freehold and will be put up for sale when the branch closes.

HSBC has written to its Morecambe customers informing them of the closure.

The banking giant has been hit hard by low interest rates, a slowdown in Asian markets and tougher regulations imposed after the financial crisis.

Dozens of its 1,057 UK branches are expected to close in a cost-cutting shake-up.