finance

Virgin Money set to close 12 branches in Scotland



Virgin Money has announced plans to close 12 branches in Scotland as it adapts to changing customer demand.

The bank stated that the number of customers using branches for day-to-day transactions has been on a downward trajectory across the industry for a number of years – and this has been further accelerated by the pandemic.

The decision to close a branch is based on location, usage, proximity to alternatives and free-to-use ATMS, and lease arrangements.

In addition to these closures in Scotland, a further 18 stores will be closing across the UK. The stores will close in early 2022.

Virgin Money stated that its intention is to find alternative roles for colleagues wherever possible, either within other stores locally or elsewhere in the group.

“However, some colleagues will be at risk of redundancy,” read the statement, adding: “It is expected that the changes will result in a reduction of around 112 full time equivalent roles across the group.”

In addition, a colleague-only store in the Gosforth office will not reopen, following its closure in early 2020.

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.”

Written notification will be sent to customers and posters will be displayed in each affected store at least 12 weeks before they close, providing details on the alternative ways customers can continue to manage their accounts, including nearest alternative stores, ATMs and Post Office counters.

Following these changes, Virgin Money will have a network of 131 branches across the UK.

The branches closing in Scotland are:

Store

Address

Close date

New host address

Distance

Distance to nearest ATM

Distance nearest Post Office

Airdrie

23 Bank Street, Airdrie, ML6 6AD

25/01/2022

47 Main Street, Baillieston, G69 6SQ

5.7 miles

0.04 miles

75 ft

Banchory

38 High Street, Banchory, AB31 5SR

28/01/2022

1 Queens Cross, Aberdeen, AB15 4XU

17 miles

0.05 miles

177 ft

Broughty Ferry

89 Gray Street, Broughty Ferry, DD5 2AL

19/01/2022

7-8 High Street, Dundee, DD1 1SS

3.9 miles

0.04 miles

384 ft

Cumbernauld

5 Tay Walk, Cumbernauld, G67 1BU

06/01/2022

1 Bank Street, Falkirk, FK1 1NB

10 miles

0.02 miles

0.2 miles

East Kilbride

Unit 2, Princes Square, East Kilbride Shopping Centre, G74 1LJ

24/01/2022

203 Main Street, Rutherglen, G73 2HG

5.9 miles

0.07 miles

0.3 miles

Galashiels

9 High Street, Galashiels, TD1 1RY

26/01/2022

83 George Street, Edinburgh, EH2 3ES

33 miles

0.04 miles

459 ft

Milngavie

27 Douglas Street, Milngavie, G62 6PE

12/01/2022

32 Sylvania Way South, Clydebank, G81 1RP

5.4 miles

0.02 miles

197 ft

Musselburgh

140 High Street, Musselburgh, EH21 7DZ

20/01/2022

83 George Street, Edinburgh, EH2 3ES

6.4 miles

0.02 miles

404 ft

Oban

6 Argyll Square, Oban, PA34 4AZ

02/02/2022

Poltalloch Street, Lochgilphead, PA31 8LL

37 miles

0.05 miles

0.2 miles

Portree

Somerled Square, Portree, IV51 9EH

01/02/2022

58 High Street, Fort William, PH33 6AH

80 miles

0.02 miles

0.1 miles

Stenhousemuir

31 Hallam Road, Stenhousemuir, FK5 3BF

27/01/2022

1 Bank Street, Falkirk, FK1 1NB

2.9 miles

0.25 miles

0.2 miles

Wick

30 Bridge Street, Wick, KW1 4NG

17/01/2022

15 Academy Street, Inverness, IV1 1JN

101 miles

0.02 miles

0.1 miles

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