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Virgin Money to close dozens of bank branches - find out if yours is one of them
21.07.2023 - 15:11 / manchestereveningnews.co.uk
Virgin Money has made the decision to close a number of branches across the country due to "changing customer demand". In total, 39 branches will be closing their doors. However, Virgin has assured customers that each affected location is less than half a mile from the nearest Post Office, where they can still carry out day-to-day transactions such as cash deposits and withdrawals, cheque deposits, balance enquiries, and coin exchange.
This move by Virgin Money is part of a larger trend of banks closing branches across the country as more and more customers choose to bank online. The selected branches to be closed by Virgin have seen a significant decline in customer use, with an average fall of 43 per cent since March 2020.
Sarah Wilkinson, chief operating officer at Virgin Money, acknowledged the impact of this decision on both customers and employees. She 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, we must respond to that evolving demand. For our colleagues, we will pursue all options to retain as many as possible within alternative roles."
The closure of bank branches has become a regular occurrence on our high streets, with an increasing number of locations shutting their doors for good. The latest announcement reveals that an additional 44 branches will be closing this year and into 2024.
According to consumer group Which?, a total of 5,695 banks and building society branches have closed or are scheduled to close since January 2015. This equates to an average of 54 branches closing each month, and there are more closures expected this year.
Lloyds is set to close at least 83 banks, while NatWest has 140 branches scheduled
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manchestereveningnews.co.uk
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manchestereveningnews.co.uk
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