Major banks stand accused of "deserting the High Street" in mid Wales - as another Powys banking branch is set to close its doors for the final time today (September 24).

Welshpool's HSBC branch on the cross at Broad Street will shut today as part of a move by the banking firm HSBC to close 82 branches across the UK.

HSBC said staff in branches facing closure are also expected to be redeployed to other branches and sites within 15 miles of their homes.

Jackie Uhi, HSBC UK’s head of network, said the decision to close branches 'was not taken lightly', but the move will come as little comfort to bank customers in Welshpool, who have already witnessed the closure of Natwest bank on Broad Street, leaving just Lloyds and Barclays left with branches remaining in the town.

"Making sure we have a sustainable branch network is essential to us, and decisions to close branches are not taken lightly," she said.

"By ensuring we have the most suitable branch format in each specific local market that we serve, we will ensure that we are in good shape to meet the challenges ahead."

Meanwhile the national federation of subpostmasters said the move was evidence of the banks "deserting the high street" in a move to drive up profits.

"Post offices are proving vital to retaining people’s and business’s access to cash as the banks continue to desert the high street in order to cut costs and increase their profits, " said a spokesperson for The National Federation of SubPostmasters.

"Every post office plays a vital role within the heart of the local community. Post offices provide a reliable and essential service which has continued at a high standard across the whole of the UK throughout the pandemic."

Earlier this year, Craig Williams, Welsh Conservative MP for Montgomeryshire, had expressed his disappointment over the plans, and has emphasised that banking services must be protected for its customers.

He said: "I am today bitterly disappointed to learn of HSBC’s planned closure of its Welshpool branch, which will be an enormous blow to its staff, customers and the town as a whole.

"Over the counter services are extremely important to many customers who prefer not to bank online, or who are unable to. It is vital that HSBC makes it a top priority to discuss new arrangements with its customers, in order to lessen the impact of this decision as far as possible if the bank decides to force its proposals through."

HSBC say alternative banking provision will be provided to Welshpool customers through the Post Office network, with the nearest branch in Broad Street.