Another bank in the city’s busiest high street will close soon.

Virgin Money in North Street, Brighton, is one of 39 of the company’s branches that will close in the latest hit to the high street.

The news comes just a month after NatWest in Castle Square, Pavilion Buildings, closed on August 16.

Virgin Money said it “regularly reviews” the way customers use its stores as well as online channels so it can “adapt its services to meet changing customer demand”.

Sarah Wilkinson, chief operating officer at Virgin Money, said: “The decision to close a store is never taken lightly. But as our customers continue to change the way they want to bank with us, by conducting fewer transactions in-store and adopting the convenience of digital banking, we must respond to that evolving demand.

“Our focus is on supporting our customers and colleagues. We have considered the number of vulnerable customers using each store very carefully throughout the review process as a key factor in our decision-making, and will proactively provide enhanced, bespoke care to ensure any vulnerable customers affected are supported through the changes.

“For our colleagues, we will pursue all options to retain as many as possible within alternative roles, and have had great success previously with store colleagues moving to other customer operations roles, as their skills are highly transferable.”

The Argus: The high street site is already available to letThe high street site is already available to let (Image: The Argus)

The number of customers using bank branches for day-to-day transactions has been on a downward trajectory for a number of years.

Virgin Money stores which are closing have seen an average reduction in customer transactions of 43 per cent since March 2020 and 96 per cent of customers in these stores are transacting less than once a month on average.

The Argus: A poster on the door alerting customers to the closureA poster on the door alerting customers to the closure (Image: The Argus)

The company said each branch closing is less than half a mile from the nearest Post Office, which customers can use to carry out day-to-day transactions.

Customers at the Brighton store should have already received a letter alerting them to the upcoming closure.

It will also give customers details on the alternative ways customers can continue to manage their accounts.

The Brighton store will close for good at 2pm on Thursday, November 9.