A WELL-KNOWN bank is set to close its doors in Moreton-in-Marsh.

Due to 40 per cent less people using local branches in the last five years, HSBC have taken the decision to close a number of banks.

The multinational bank wrote to its customers on Tuesday (October 11) to defend their decision.

An HSBC spokesman said: "We have today written to all our local customers to inform them that the Moreton-in-Marsh branch will close on 6 January 2017, and advise them of local alternatives, as well as offering them 1-2-1 sessions to help explain their options or provide help in setting up mobile or internet banking.

"We continually review our branch network to make sure our branches are in the right locations for our customers and we have a sustainable network for the future.

"Over the past five years, we have seen footfall reduce by an average of 40% at our regional branches and sometimes we have to make the difficult decision to close branches. "These are not decisions we take lightly and we work closely with those impacted, including customers, to help them understand their options.

"That said, 93% of contact with the bank is now completed via the telephone, internet or smartphone, plus 97% of cash withdrawals are made via an ATM.

"We will be working closely with our customers in the coming weeks to ensure they are fully aware of all the measures in place to support them."

HSBC say that they are putting in place a number of measures to help customers, including a partnership with the Post Office which is situated on the High Street.

The link-up with the Post Office means that the bank's customers will be able to access their current accounts at post office counters.

The partnership deal will also enable the bank's customers to check account balances and make cash and cheque deposits.

The closest branch for customers in Moreton-in-Marsh is located in Chipping Norton.