Virgin Money is closing 39 UK bank branches. Is yours on the list?
- Find out if your local Virgin Money branch will be closed by the end of the year
- Virgin Money branches in Cambridge, Exeter and Kingston affected
Virgin Money has revealed plans to close 39 stores across the UK, blaming “changing customer demand”.
Unite the Union says 260 Virgin Money employees are at risk of losing their jobs, although the bank has yet to confirm the exact number.
He said in a statement that “some colleagues will be at risk of being fired.”
The affected branches include those located in Chelmsford, Croydon, Durham, London Haymarket and Oxford. Around 30 per cent of all Virgin Money branches are now set to close.
Closures: Virgin Money has revealed plans to close 39 stores across the UK this year
Virgin Money said each affected branch that is closing is less than half a mile from the nearest post office.
Bank customers can access limited banking service at Post Office branches after an agreement was reached in 2015 to offset the impact of branch closures.
Sarah Wilkinson, Virgin Money’s chief operating officer, 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 doing fewer transactions in-store and embracing the convenience of digital banking, we must respond to that evolving demand.
‘Our focus is to support our customers and colleagues.
“We have considered the number of vulnerable customers using each store very carefully during the review process as a key factor in our decision-making, and we will proactively provide enhanced and personalized support to ensure affected vulnerable customers are supported through the changes.”
Full list of 39 Virgin Money branches closing
The following Virgin Money branches will be closed at the end of the year:
– London Haymarket
– Fort William
– Golden green
– Kensington, London
He added: “For our colleagues, we will be looking at all options to retain as many as possible in alternative roles, and we have previously had great success with store colleagues moving into other customer operations roles as their skills are highly transferable.”
Virgin Money said that for each affected store, a written notification will be sent to customers and signs will be displayed at least 12 weeks before they close. Customers will also be informed of alternative ways to access their cash locally.
However, Unite general secretary Sharon Graham said: ‘This announcement of the closure of 39 vital bank branches has shocked the Virgin Money UK workforce. Today, 260 skilled and experienced employees have learned that they risk losing their livelihoods at a time of deep economic uncertainty for all workers.
‘While the financial services industry is making staggering profits, it must start taking its responsibilities to customers and communities more seriously.
‘Access to a bank and cash is a fundamental need for all of our local main streets. Simply walking away from the consumers who generate astronomical profits for the banks is a complete disgrace.”
“Unite is working hard everywhere to support its members as they deal with the implications of this terrible news.”
Unite National Officer Caren Evans said: “Virgin Money UK staff are understandably devastated. The bank will close 39 sites, leaving just 91 Virgin Money branches.