HSBC has revealed plans to close 82 of its branches by the end of September 2021, reducing its network from 593 to 511.
This will take the total number of closures by HSBC since 2015 to 555, meaning it has lost over half of its branches and slipped from the fourth to the seventh-largest network on the high street in that time.
This also means that by the end of the year, HSBC will have closed the third-highest number of banks, behind NatWest (639) and Barclays (605).
The table below shows which HSBC branches will close by 30 September 2021.
HSBC says the dates may be subject to change.
In a statement, HSBC said that even without the additional impact of the pandemic, the number of customers using its branches has fallen by more than a third in the past five years, as more customers bank online.
The bank also says that 81 of the branches being closed are within one mile of a Post Office, where customers can carry out day-to-day transactions.
It's worth noting that the Post Office is not a stand-in for a bank, though, as you can't complete more complex activities, such as opening or closing an account, or talking about financial products such as loans or mortgages.
HSBC's analysis also shows that two thirds of customers will still be within five miles of their nearest HSBC branch.
The closures come in the wake of new branch formats HSBC has been piloting, four of which are being rolled out.
HSBC says that it has already begun the process of converting its branches, with the work expected to be completed by the end of the year.
The formats are:
HSBC is not the first bank to announce major closures in 2021, with TSB (164 closings) and Barclays (63) both making announcements at the end of last year.
Lloyds Banking Group has also confirmed that it will proceed with the closure of 56 branches this year - across its Lloyds, Halifax and Bank of Scotland brands - a move which it had paused in 2020 due to the pandemic.
This flurry of announcements means we already know that there will be more closures this year than there were in 2020.
By the end of 2021, almost 4,000 branches will have closed - more than 40% of them - at a rate of 11 a week.
The chart shows the number of closures (and scheduled closures) for every brand between January 2019 and December 2021
In September, the FCA published its finalised guidance on the steps that banks must take before closing a branch.
The guidelines set out a number of actions that banks must take when making closures, including:
The FCA guidelines were introduced in addition to the Access to Banking Standard, a set of similar, voluntary guidelines that the majority of banks had signed up to in 2017.
It was hoped that the move would help arrest the rate at which banks were closing their branches, but these latest announcements suggest these hopes haven't been borne out.
Gareth Shaw, Which? head of money, said: 'Huge swathes of the bank branch network have disappeared in recent years, and while coronavirus has accelerated the shift to online banking for some, it's vulnerable people and those living in rural locations who rely on face-to-face banking that will lose out.
'These customers need to have reasonable access to a local branch that provides a wide range of banking services, including cash withdrawal facilities. However, this domino effect of closures across the country reinforces concerns that the regulator's guidance to banks to protect those who still require these services is not going to be enough to address the problem.
'More action needs to be taken to prevent these people from being cut adrift. If the government and regulator continue to delay on issues such as introducing legislation to protect access to cash, banks will continue to push through changes that will restrict people's banking options.'
Alternatively, you can carry out some basic banking tasks at Post Offices, such as depositing or withdrawing cash.