Virgin Money to close 12 branches in Scotland

Virgin Money, the brand name now used by the former Clydesdale Bank, is to close 12 branches in Scotland.

The firm said a trend of fewer customers using bank branches for day-to-day transactions had been accelerated by the Covid pandemic.

A further 18 branches will close in other parts of the UK and a total of 112 jobs are at risk.

Virgin Money said it intends to find alternative roles for staff wherever possible but some face redundancy.

The branches - which will close early next year - are in Airdrie, Banchory, Broughty Ferry, Cumbernauld, East Kilbride, Galashiels, Milngavie, Musselburgh, Oban, Portree, Stenhousemuir and Wick.

All are located less than a third of a mile away from the nearest Post Office, the firm said.

However, the nearest Virgin Money branch for some customers will be lengthened considerably under the plans.

For those who use the Portree branch, their nearest branch will be 107 miles away in Fort William.

'Hollowed out'

Debbie Hutchings, Unite industrial officer, said an estimated 76 Virgin Money workers would be affected in Scotland and dubbed the closure plan "shameful".

She added: "The announcement will disproportionately impact on workers and communities across Scotland.

"Island communities from Portree to rural towns such as Wick are going to be left behind by Virgin Money.

"Our nation's town centres, from Cumbernauld to Musselburgh, will be further hollowed out as fewer people will come into town if there is no bank branch."

Ian Blackford, SNP MP for Ross, Skye and Lochaber, also criticised the decision.

He said: "How on earth they expect customers, particularly those who are elderly or frail, to use facilities in Fort William when they live on Skye is beyond me."

Virgin Money closed six branches in Scotland last year as part of its merger with Clydesdale Bank.

But 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."