VIRGIN Money is set to close 22 branches and consolidate a further 30 more over the next year.
In total, the bank will close six Clydesdale Bank sites, 12 Yorkshire Bank branches, and four Virgin Money locations.
The 30 additional branches will be consolidated into another Clydesdale Bank / Yorkshire Bank / Virgin Money location within half a mile.
This will leave Virgin Money with a network of 166 physical stores.
The bank said that it would find alternative roles for staff either within other stores locally or elsewhere in the Group, wherever possible.
But it confirmed that around 500 roles will be axed, including 215 in-branch positions.
The group said that the closures reflect the way that customers are using services now, with fewer using traditional bank branch services.
It said that approximately 280,000 cheques were deposited by the bank's mobile phone app rather than in branches last year.
The branches will start to shut from May this year.
The full list of bank branches that will shut this year
HERE are the 22 bank branches that will close up shop from May 2020.
- Crieff – West High Street
- Dingwall – Park House
- Dumbarton – High Street
- Dyce – Victoria Street
- Edinburgh – Bankhead Avenue, Sighthill
- Wishaw – Stewarton Street
- Birkenhead – Princes Pavement
- Bridlington – Queen Street
- Brighouse – Bradford Road
- Cannock – Market Place
- Gloucester – Northgate Street
- Leeds – Harehills Lane
- Morley – Queen Street
- Pontefract – Ropergate
- Sheffield – Lound Side, Chapeltown
- Warrington – Buttermarket Street
- Wombwell – High Street
- Worksop – Bridge Street
- Gateshead – Interchange Centre
- Giffnock – Fenwick Road
- Low Fell – Durham Road
- South Shields – Prince Edward Rd
These are the list of areas where branches will be consolidated.
- Glasgow – Queen Street
- Hull – Prospect Centre
- Leicester – Horsefair Street
- Peterborough – Church Street
- Sheffield – Fargate
- Sunderland – Blandford Street
- Aberdeen – Union Street
- Birmingham – Temple Street
- Bolton – Bradshawgate
- Carlisle – Devonshire Street
- Coventry – Hertford Street
- Darlington – High Row
- Derby – Corn Market
- Dundee – High Street
- Edinburgh – Castle Street
- Edinburgh lounge – St Andrew Sq
- Hartlepool – York Road
- Kendal – Stricklandgate
- Leeds – Briggate
- Manchester – Princess Street
- Middlesbrough – Linthorpe Road
- Newcastle – Market Street
- Norwich – Castle Street
- Nottingham – Beastmarket Hill
- Oldham – Yorkshire Street
- Preston – Fishergate
- Stockport – Great Underbank
- Stockton – Dovecot Street
- Sunderland – The Bridges
- York – New Street
Lucy Dimes, at Virgin Money, said: "The decision to close branches is never taken lightly.
"The changes announced today are focused on consolidating branches where there is another Clydesdale Bank/Yorkshire Bank/Virgin Money location within half a mile, as well as closing a number of branches to reflect changes to customer demand."
Virgin Money says that the branch closures mean that the group will have a network that is "fit for the future"
The owner of Clydesdale and Yorkshire Bank, CYBG, paid £1.7billion to buy Virgin Money in 2018.
At the time it warned that 1,500 jobs were likely to be made redundant, and the current bank closures are part of that restructuring move.
The merger made Virgin Money the UK's sixth-largest bank, with about six million customers.
Third of bank branches axed in just over four years while hundreds slash opening times.
Lloyds Bank closures – 56 Halifax and Bank of Scotland branches to shut this year.
Barclays promises to keep over 100 bank branches in remote areas open until October 2021.
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