Virgin Money To Close Wick Bank
30th September 2021
Virgin Money will close 31 of its 162 branches in the coming months as more customers shift to online banking.
The Wick branch was part of the Clydesdale network before being acquired by Virgin.
Virgin Money has plans to close 12 branches in Scotland.
The company said the number of customers using bank branches for day-to-day transactions has been on a downward trajectory across the UK banking industry for a number of years and that this has been further accelerated by the pandemic.
A further 18 stores will be closing across the UK, with branches shutting in early 2022.
Virgin Money said it intends to find alternative roles for staff wherever possible but that some will be at risk of redundancy.
More people will have to use post offices for day‐to-day banking, including cash deposits and withdrawals, cheque deposits and balance enquiries, as well as coin exchange.
The latest branches closures
Newcastle, Northumberland St
Leeds, White Rose
East Kilbride, Princes Square
Gosforth (a branch for employees only, located in an office)
Clydesdale Bank plc was a commercial bank in the United Kingdom. Formed in Glasgow, Scotland in 1838, it was the smallest of the three Scottish banks. Independent until it was purchased by Midland Bank in 1920, it formed part of the National Australia Bank Group (NAB) between 1987 and 2016. Clydesdale Bank was divested from National Australia Bank in early 2016 and its holding company CYBG plc, now renamed as Virgin Money UK plc, trades on the London and Sydney stock exchanges. In June 2018, it was announced that Clydesdale Bank's holding company CYBG would acquire Virgin Money for £1.7 billion in an all-stock deal, and that the Clydesdale and Yorkshire Bank brands would be phased out in favour of retaining Virgin's brand. CYBG plc's banking businesses, Clydesdale Bank, Yorkshire Bank, Virgin Money and B, currently operate as trading divisions of Clydesdale Bank plc under its banking licence.
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TSB To Close 164 Branches And Almost 900 Jobs To Go - Wick Branch Will Close
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