Sidmouth’s HSBC bank – one of just two remaining in the town - is to close in September this year.

It is among 69 branches that are shutting down during 2022.

HSBC says under 50 per cent of its customers now ‘actively’ use the branch network, and it is moving towards ‘branch formats tailored for each local community’.

Jackie Uhi, Head of HSBC UK’s Branch Network, said: “The way people bank is changing - something the pandemic has accelerated.

“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop-ups and continued use of the Post Office network. Rather than a one-size fits all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.

“We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing. This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”

HSBC added that all the branches it is closing have a post office within 1.5 miles offering day-to-day banking transactions, and at least five free-to-use ATMs within one mile.

But news of the closure on September 13, which will leave Sidmouth with just its Lloyds bank branch, has been met with disappointment locally.

Ian Barlow, chairman of Sidmouth Town Council, said: “It’s sad, very sad when banks close, but you just can’t stop it.

"All across the country they are trying these multiple banks in one building, which is better, but it hasn’t been adopted full-scale yet, and it’s easier and cheaper for them to just shut down.”

Town centre shopkeeper Sharon Hobson, who owns Flutterbys, said: “It’s going to make it very difficult for some of the more vulnerable people in Sidmouth who don’t use internet banking. It’ll also give people less reason to pop into town.”