Support quality, independent, local journalism…that matters

From just £1 a month you can help fund our work – and use our website without adverts. Become a member today

Caerphilly County Borough has now lost another bank following the closure of HSBC on Blackwood’s High Street.

The branch closed on Tuesday July 25 – a closure that was first confirmed by the bank back in November.

In a letter to Islwyn’s Labour Senedd Member, Rhianon Passmore, last year, the bank said the decision had “not been taken lightly”.

The bank said usage of its branches by regular customers had fallen by 65% in the last five years, with a 50% reduction in footfall.

HSBC also said nine in ten customers now do their banking over the internet or telephone, with 99% of cash withdrawals made at an ATM.

The letter continued: “The rate of decline in branch usage has accelerated since the Covid-19 pandemic with no signs of recovering, with a number of branches now serving fewer than 250 customers a week.”

Blackwood’s independent councillor, Kevin Etheridge, thanked the branch staff for their work over the years and said “a part of the heritage has left the town”.

Cllr Etheridge described the closure as a “sad day for Blackwood, staff, customers and the high street.”

Customers at the Blackwood branch will see their accounts automatically transferred to the Caerphilly branch, which is on Cardiff Road.

In recent years, HSBC has closed branches across Caerphilly County Borough, such as in Bargoed, Newbridge and Risca.

Branches in nearby Cwmbran, Merthyr Tydfil and Newport are set to remain open.

HSBC’s closure is just the latest in a growing list of bank closures across Caerphilly County Borough and beyond.

In Caerphilly town, both Halifax and Barclays have announced their intention to close their respective branches in the town.

Meanwhile, Barclays is also set to close its Risca branch next year.

Sign up to our daily newsletter