Halifax has announced that it has plans to close its branch on Portswood Road on 3rd October 2018.
In a three page letter sent to customers holding accounts at the branch, the bank said that had taken the decision to close its Portswood location after ‘a recent look at the way customers use our branches in the Southampton area’.
An online message about the closure posted on the Halifax website explained:
We have made the difficult decision to close this branch because customers are using it less often. In addition the majority of customers are also using alternative ways to bank.
The other Halifax branches in Southampton, which are located on Above Bar Street in the city centre, in Bitterne, and in Shirley, will remain unaffected.
The review of usage of the branch, which is available on the Halifax website, explains the rationale behind the closure decision. It reveals that 53 per cent fewer personal banking customers use the Portswood branch compared to a typical Halifax location.
It also shows that demand for the branch’s services has fallen in recent months – revealing that there have been 22 per cent fewer counter transactions and 14 per cent fewer cash machine transactions this year than there were at this point a year ago.
The nearby branch of the Nationwide Building Society will remain open, and from 3rd October 2018 will be the only bank branch remaining in the area.