HSBC Bermuda will permanently shut its Church Street branch at the end of June – and until then it will be used for by-appointment safe-custody services only.

HSBC said staff working there would be redeployed to support the Harbourview Centre, St George’s and Somerset branches.

The Bank said the closure would provide increased capacity for quality face-to-face services in the remaining three locations.

Tanya Bule, head of wealth, personal banking and marketing, said: “Our goal is to modernise and digitise our customer service offer as our clients increasingly move away from cash-intensive, in-person transactions, towards always-available, digital banking channels.

“We’ve recently completed the first phase of refreshing the layout of the Harbourview branch to better direct customers and encourage the use of digital solutions, such as tablets and dedicated internet banking stations.”

She said further work to improve the layout and service functionality would continue throughout 2022 to support the increased customer foot traffic on a permanent basis.

Safe-custody holders at the Church Street branch will be provided with guidance on the steps required to close their safe-custody box and, where desired, reopen one at the Harbourview location.

The bank also advised that it would consolidate some of its banking teams at the Compass Point building into the Harbourview Centre location.

Space in the Compass Point building would then be made available for lease to commercial tenants.