HSBC has announced plans to close its branch on Corporation Street in Coventry.
The global banking group confirmed it would close the bank branch, which is among three in Coventry.
As well as one in Coventry, 26 others across the UK will be shut down by the end of 2020, the bank said.
A spokeswoman said: “The plans reflect the long-term change in the way customers are banking alongside the bank’s need to ensure a sustainable branch network for the future.”
It took the decision after a fall of a third in customers using its branches, over the past five years.
Stuart Haire, HSBC UK’s Head of Retail Banking and Wealth Management, said: “Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future. But, the way our customers bank with us has changed significantly over the last five to ten years, and that change is something we cannot ignore.
“Almost every industry is affected by similar behavioural change and needs to work hard to address that – newspapers used to be delivered by paper boys and girls, or a paper would be collected from a shop, and now most people consume their news online.
“In the financial services industry many more customers are using mobile and internet banking than ever before, also interacting with us on social media over 85,000 times in the last 12 months. The upshot is that significantly fewer people are using our branches.
“The decision to close these branches will help to ensure a sustainable branch network for the future and allow us to continue to invest in it, as illustrated by the improvement to 49 branches in 2020, along with the continuing investments in our people and digital platforms.
“Our priority is now to work closely with our colleagues and customers. We will write to all affected customers to advise them of local alternatives, as well as offering them 1-2-1 sessions to help explain their options or provide help in setting up mobile or internet banking.
“By the end of 2020, HSBC UK will still have a large network of branches in the UK and will remain well positioned to serve its customers.”
A spokesperson for union Unite told the Observer: “We have opposed all branch closures as we would like to they can keep some of these running.
“The news has only just been announced to staff, so we now need to see where HSBC can redeploy their staff.
“It is a concern for customers because many still need face-to-face advice.
“There will now be a period of individuals’ consultations on redundancies.”
The bank said affected customers could still carry out their banking at Post Office branches and the HSBC on High Street, Coventry.
