Virgin Money has announced it will be closing 39 of 91 of its bank branches by the end of the year to account for lower customer demand.
The sites affected have seen the number of customer transactions fall by an average of 43 percent, but the planned closures could result in up to 255 redundancies.
Sarah Wilkinson, chief operating officer at Virgin Money said the firm would “pursue all options” to retain as many staff possible “within alternative roles.”
Ms Wilkinson said: “The decision to close a store is never taken lightly.
“But as our customers continue to change the way they want to bank with us, by conducting fewer transactions in-store and adopting the convenience of digital banking, we must respond to that evolving demand.
Don’t miss… Barclays confirms more bank closures this year – see if your branch is affected
“For our colleagues, we will pursue all options to retain as many as possible within alternative roles, and have had great success previously with store colleagues moving to other customer operations roles, as their skills are highly transferable.”
The closures will impact branches across the UK, from Belfast and Cardiff to Irvine and London. However, Virgin Money has said every affected branch is less than half a mile from the nearest Post Office.
Virgin Money said written notification will be sent to customers for each affected store, and posters will be displayed at least 12 weeks before they close. Customers will also be told alternative methods to access their cash locally.
Savers urged to check if they can earn hundreds of pounds more interest[EXPLAINED]
Virgin Media O2 offers free mobile data to families over the summer holidays[INSIGHT]
6.2% a year. This new savings rate beats every rival – but HMRC is hovering[ANALYSIS]
According to reports, Virgin Money branches in the following areas will close by the end of the year:
- London Haymarket
- St Albans
- Milton Keynes
- Fort William
- Newton Stewart
- Golders Green
- Kensington, London
- Gosforth Centre
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Source: Read Full Article