VIRGIN Money is closing its Keighley bank.

The outlet, in North Street, will shut on January 19 next year.

Formerly the Yorkshire Bank, the branch is among nine in the Yorkshire region being closed by Virgin Money.

The company says it regularly reviews the way customers use its stores – as well as its online, mobile and telephone channels – and adapts its services "to meet changing customer demand".

It adds that 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 – a slide further accelerated by the pandemic.

A spokesperson said: "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.

"Eight of the nine stores closing in Yorkshire are located less than a mile away from the nearest post office. For the other store, the nearest alternative Virgin Money store is 2.7 miles away."

In addition to the closures in Yorkshire, a further 21 stores are shutting across the UK.

The company says it will find alternative roles for staff wherever possible, either within other stores locally or elsewhere in the group. But it does warn there could be redundancies. 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 of alternative ways customers can continue to manage their accounts – including nearest alternative stores, ATMs and post office counters.

Virgin Money says it will work with customers to support a "smooth transition", particularly with regards to vulnerable customers. 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.