Virgin Money to close branches at Mexborough and Meadowhall

Virgin Money has announced plans to close nine stores across Yorkshire including branches at Mexborough and Meadowhall as it adapts to changing customer demand.

Thursday, 30th September 2021, 12:36 pm
Virgin Money is set to close branches in Mexborough and Meadowhall.

The branch on High Street Mexborough is set to close on January 27, 2022, with its new host address at Frederick Street, Rotherham.

Its store at The Arcade, Meadowhall Sheffield, will close on January 05 2022 with its new host address at Fargate, Sheffield.

They say 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 this has been further accelerated by the pandemic.

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The decision to close a store is based on a number of factors, including location, usage, proximity to alternative stores and lease arrangements.

Virgin Money said each store was assessed on an individual basis, with careful consideration of the impact on the local area, as well as the needs of vulnerable customers and the accessibility of alternative services such as free-to-use ATMs and the Post Office.

Customers can use Post Offices for day‐to-day banking, including cash deposits and withdrawals, cheque deposits and balance enquiries, as well as coin exchange.

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.”

In addition to these closures in Yorkshire, a further 21 stores will be closing across the UK. The stores will close in early 2022.

It is Virgin Money’s intention 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. It is expected that the changes will result in a reduction of around 112 full time equivalent roles across the Group.

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.