Another bank to close its branch in Milngavie

Virgin MoneyVirgin Money
Virgin Money
Another bank in Milngavie is set to close its doors permanently to customers.

Virgin Money has announced plans to close 12 stores in Scotland as it “adapts to changing customer demand”.

One of the 12 is the branch at 27 Douglas Street in the village, which will shut in early 2022.

The nearest will be at Clydebank shopping centre.

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In a statement, Virgin Money said the decision to close the stores was based location, usage, proximity to alternative stores and lease arrangements.

Each store was assessed on an individual basis, the bank said, 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.

In addition to the closures in Scotland, a further 18 stores will be closing across the UK, all in early 2022.

A spokesperson for Virgin said: “It is Virgin Money’s intention to find alternative roles for colleagues wherever possible, either within other stores locally or elsewhere in the Group.

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"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.”

Fergus Murphy, Group Customer Experience Director at Virgin Money added: “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 shut.

Santander bank closed in Milngavie a couple of years ago.