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HSBC to shed 595 IT jobs and close branches in Sheffield

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Thank you. That is helpful. Will they do this for multiple accounts, do you know?

 

I don't know, but why wouldn't they?

 

The whole process took just one week and all direct debits and payments transferred to my new account.

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Moving banks because branches are closing is utterly pointless. All banks will be shutting branches. Old ladies queuing in branches don't make banks money, and they are not a charity. Simple as that.

 

Move banks for other reasons, but not as a result of branch closures.

 

I'd also question why people need to go in a branch at all.

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The IT industry in Sheffield is much bigger than HSBC, but I do think it will have an impact.

Probably not so much on me, as they haven't had developers in Sheffield in any number for years now.

It may not affect you personally but there will be a lot of people out there who are either unemployed or looking for a new job who will be extremely concerned that hundreds of IT savvy people are about to be thrown onto the local jobs market increasing competition and lowering wages. I can just imagine local employers rubbing their hands together as we speak.

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Yes, it is much easier these days - there's the current account switch service that moves everything over (your balance and direct debits) in 7 days and then redirects payments to your old bank details to your new account. You just have to do it as part of your new bank account application and that's it. There's loads of great bank accounts out there too - with good interest rates/cashback, or a bonus of £100 for switching to them.

 

Just so you know though, you can still pay in cash and cheques at any post office, though you need to get some paying in slips and deposit envelopes from HSBC for the cheques.

 

Thank you. I will investigate.

 

---------- Post added 18-05-2016 at 23:40 ----------

 

Moving banks because branches are closing is utterly pointless. All banks will be shutting branches. Old ladies queuing in branches don't make banks money, and they are not a charity. Simple as that.

 

Move banks for other reasons, but not as a result of branch closures.

 

I'd also question why people need to go in a branch at all.

 

I don't think it's pointless. I am a customer. I have freedom of choice. Having a local branch is important to me to pay cheques in.

 

I will switch to a bank that has a local branch. If that branch closes, then I'll switch to another bank that has a local branch. If they all close, then I'll switch to the Post Office. By the time the banks realise they have lost all their customers, who knows, they might open up a branch locally?

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It may not affect you personally but there will be a lot of people out there who are either unemployed or looking for a new job who will be extremely concerned that hundreds of IT savvy people are about to be thrown onto the local jobs market increasing competition and lowering wages. I can just imagine local employers rubbing their hands together as we speak.

 

Actually, it will have less impact than you think; Sky Bet has been poaching IT staff all over Sheffield (things like £2k finders fees are only encouraging it) and paying them over the odds wages, so an influx of new IT workers to replace the holes left by those people who went to Sky is no bad thing.

 

Plenty of IT positions available in Sheffield at the moment, so as bad as it is for those guys at HSBC to lose their jobs, it's a good time to be looking for a new job.

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Thank you. I will investigate.

 

---------- Post added 18-05-2016 at 23:40 ----------

 

 

I don't think it's pointless. I am a customer. I have freedom of choice. Having a local branch is important to me to pay cheques in.

 

I will switch to a bank that has a local branch. If that branch closes, then I'll switch to another bank that has a local branch. If they all close, then I'll switch to the Post Office. By the time the banks realise they have lost all their customers, who knows, they might open up a branch locally?

 

Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc.

 

I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog.

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Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc.

 

I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog.

 

What if you have to change banks to move with the times?

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Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc.

 

I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog.

 

If people want branches, and are prepared to take their business to a bank that has them, then there will be a business that obliges.

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Very odd. Branches, especially the small ones, are a thing of the past. You will have to travel to city centres to pay cheques in. And cheques won't exist in 5 years anyway. People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc.

 

I've got a better idea than changing banks every 2 minutes. Move with the times. And if you're waiting for banks to 'open up a branch locally' I would suggest their is more chance of platting fog.

 

It seems banks want it all ways. You say that banking is free but you pay a price for this 'free banking' - they want to pay you zero interest on your money, yet charge you 20% on cards and loans and overdrafts.

 

Without customers there would be no banks. It seems my bank aren't interested in providing what customers want though, or I wouldn't have to go in to town to put a cheque in (which there is no way I am doing) or wait in excess of 25 minutes to speak to someone about my account

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The banking portion of it is free. That doesn't include borrowing money, of course they charge you an interest rate (although it's not 20% from HSBC for a loan, more like 4.5%).

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The banking portion of it is free.

 

Yes, although I think banks 'offset' this with paying zero interest.

 

That doesn't include borrowing money, of course they charge you an interest rate (although it's not 20% from HSBC for a loan, more like 4.5%).

 

I think the interest rates vary depending on many factors? Obviously still far better than these loan shark companies.

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People forget that a lot of banking is free. You don't pay for your account, direct debits, cash card, payments, call centres etc.

 

Which they hate, which is why they keep pushing these monthly-fee accounts.

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