Virgin Money to close 31 stores – is your nearest branch affected?

VIRGIN Money will close 31 branches as it "adapts to changing customer demand".

Around 112 staff are at risk of redundancy from bank locations shutting.

Customers affected by the closures will continue to be able to use Post Offices for day to day banking, like withdrawing and depositing cash.

The bank said that 28 of the 30 branches shutting their doors are located less than a third of a mile from a Post Office branch.

The branches shutting for good are mainly located in Scotland and the North of England.

Fergus Murphy, group customer experience director at Virgin Money said: “As our customers change the way they want to bank with us and conduct fewer transactions in-store, we must continue to evolve the role of our stores into places where we showcase our products and bring our digital services to life.”

Virgin Money customers will be notified of the closures and posters will be displayed in the windows of branches affected.

Many major banks have closed branches in recent years, a trend that has accelerated because of the coronavirus pandemic.

Lockdowns to prevent the spread of the virus led to many more people banking online and over the phone.

The branches closing are the following locations:

  • Airdrie
  • Ashton-Under-Lyne
  • Banchory
  • Beverley
  • Blackburn
  • Broughty Ferry
  • Chesterfield
  • Cumbernauld
  • East Kilbride, Princes Square
  • Galashiels
  • Grantham
  • Keighley
  • Leeds, Horsforth
  • Leeds, White Rose
  • Lincoln
  • Macclesfield
  • Mexborough
  • Milngavie
  • Musselburgh
  • Nelson
  • Northallerton
  • Newcastle – Northumberland St
  • Nuneaton
  • Oban
  • Portree
  • Selby
  • Sheffield, Meadowhall
  • Stenhousemuir
  • Whitby
  • Wick

A branch in Gosforth will also not reopen again after closing last year due to Covid.

Virgin Money will have 131 locations across the country after the closures.

You can find your nearest branch using the bank's store finder.

If your branch is closing you can find your nearest Post Office using its branch finder tool.

Lloyds Banking Group announced the closure of another 44 banks over the summer, including Lloyds and Halifax Bank branches.

Santander shuttered 111 locations by August this year and HSBC said in January that 82 branches would close by the end of the end of the year.

The closures have raised concerns over access to cash, especially among the elderly and vulnerable.

Local shops will give out cashback and the Post Office will offer banking services, as part of a plan to fix access to cash in communities.

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