VIRGIN Money has announced plans to close its Horsforth branch along with eight other stores across Yorkshire.

The company says the decision to close the stores in early 2022 has been made as it adapts to changing customer demand.

As well as the closures in Yorkshire, a further 21 stores will be closing across the UK.

In a statement today the company said: "Virgin Money regularly reviews the ways customers use its stores, as well as its online, mobile and telephone channels, so that it can adapt its services to meet changing customer demand. 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.

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

The company says eight of the nine stores closing in Yorkshire are less than a mile away from the nearest post office.

It says it will find alternative roles for staff wherever possible - either within other stores locally or elsewhere in the group - but some 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.

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.

The company says it will work with customers to support a smooth transition, particularly where vulnerable customers are concerned. It says a range of support services will be available prior to store closures, including digital workshops to help customers become more comfortable with digital banking.

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