Virgin Money has announced the closure of the former Clydesdale Bank branch in Broughty Ferry – with the potential loss of some jobs.
The outlet, on Gray Street, will shut in January as part of moves to close 12 branches across Scotland and a further 18 elsewhere in the UK.
It comes as bosses say there was a 27% drop in transactions at the bank between October 2018 and September last year.
The number of job losses in Broughty Ferry has not been confirmed, but about 112 full-time roles will go across the company.
This has the potential to impact on many customers in Broughty Ferry and the surrounding area
Virgin Money says customers will be able to carry out banking tasks at the Post Office on the same street, while their accounts will be switched to the branch in Dundee city centre.
Maurice Golden, North East region Scottish Conservative MSP, said: “This has the potential to impact on many customers in Broughty Ferry and the surrounding area, as well as the staff who work in the branch.
“Banks are supposed to carry out a full community impact assessment when considering closure or a significant reduction in opening hours.”
Mr Golden plans to contact the firm over his concerns.
Drop in footfall excuse ‘of little comfort’ to customers
He added: “The bank says footfall has declined – during the pandemic that won’t surprise many.
“But no matter the percentages involved, this is of little comfort to those customers, local businesses, charities and other community groups who depend on access to personal banking.”
In an email sent to the MSP, Georgia Jamieson, the public affairs manager for Virgin Money, said: “Our Broughty Ferry Virgin Money store has seen transactions fall by 27% between October 2018 and September 2020, a decline which has continued this year.
“In addition, 68% of customers visited the store three times or less the last 12 months, with more than half of these customers also using alternative channels and 54% being digitally active.
Customers to be transferred to Dundee city centre branch
“While customers’ accounts will be transitioned to the Virgin Money Dundee store, they are of course welcome into any Virgin Money store.
“In addition, customers can perform banking tasks at their local Post Office at 128 Gray Street, Broughty Ferry, DD5 2DG, which is within 384 feet of the Broughty Ferry store.
“We’ll also be letting customers know that their nearest ATM is situated at the RBS bank 0.04 miles from the Broughty Ferry store.”
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.”
It is the latest bank to announce a closure of stores.
Last September, TSB confirmed plans to shut two Dundee branches along with seven in Fife, four in Perthshire and two in Angus.
Meanwhile, earlier this year, Post Office revealed it was closing counters in several Spar shops across the region.