HSBC has revealed that it is set to close its Tenby branch - leaving the popular seaside town without a single bank.

HSBC has announced that in 2023, it will close 114 branches across the UK 'due to a decrease in in-person banking'.

One of the branches listed is on Tudor Square, Tenby.

No date has yet been given for the closure of the branch, other than it being at some point in 2023, but it is a blow to the town as it comes just days after Barclays closed its Tenby branch.

The news will leave the town without an actual bank, however, the Post Office does have banking facilities.

HSBC has said that more than 90 per cent of the transactions are done online – with the figure standing at 97.5 per cent.

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The company also said that over the last five years, footfall into the banks has dropped by 65 per cent.

A statement from HSBC read: "The decline in branch use has accelerated so much since the covid-19 pandemic that some of the branches closing are now serving fewer than 250 customers a week."

HSBC UK managing director of UK distribution Jackie Uhi said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning.

“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking."

The bank said it was to invest tens of millions of pounds in updating and improving its remaining branch network, which will total 327 once the closures have been completed.