HSBC UK has launched its first standalone “Cash Pod” to help provide access to cash.
The bank aims to open ten Cash Pods in the UK, with the first having now been installed in Nailsea, North Somerset.
It was introduced shortly before the town’s last bank closed its doors for the final time, when the local Lloyds Bank branch shut on February 1.
The Cash Pod is located in Nailsea’s Crown Glass Shopping Centre and allows all residents and businesses to withdraw cash fee-free.
It will be available to use 24 hours per day to HSBC customers and non-customers.
HSBC UK customers can also use the service to deposit cash, check their account balance, print mini-statements, as well as activate a card and reset their PIN.
They can also make payments linked to their HSBC UK credit card.
The exact locations of the other nine Cash Pods are still being finalised, but HSBC UK said they’re expected to include a farm shop, car parks and shopping centres.
The bank said many will be powered by solar panels and will include access to defibrillators for the community and bike racks to help with sustainable transport.
HSBC UK has pledged not to announce any new branch closures in 2024.
In 2022, HSBC announced it would close 114 branches from April 2023.
HSBC will have closed 303 branches between January 2019 and December 2025, according to Which?.
The bank will open a new branch in Loughborough, Leicestershire this year after the former branch was forced to close because of a fire last year.
LATEST DEVELOPMENTS:
HSBC UK said they are investing tens of millions of pounds into their branch network and local communities
PA | HSBC UK
Oli O’Donoghue, Managing Director of HSBC UK’s branch network said: “We continue to invest tens of millions of pounds into our branch network and local communities.
"We fully understand a community’s need for access to cash and are excited to be launching our first Cash Pod in Nailsea.
"This marks the start of a new initiative for HSBC UK as part of our strong focus on maintaining and improving our local presence, alongside digital and remote banking.
“We understand the impact of the recent bank closure on the community, and we are excited to assist with access to cash with this new standalone Cash Pod.”
HSBC opened two branches in 2023 in Bournemouth and Sheffield in 2023.
