Newton Stewart photograph

Newton Stewart

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Weather4°C, Wind SW at 26 km/h, 76% Humidity
Population3,573 (2001)
Postcode districtDG8
Police Scotland
Dialling code01671
AmbulanceScottish
Local timeSaturday 09:54
Date of Reg.
Date of Upd.
ID2594864
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About Newton Stewart


Newton Stewart is a former burgh town in the historical county of Wigtownshire in Dumfries and Galloway, southwest Scotland. The town is on the River Cree with most of the town to the west of the river, and is sometimes referred to as the "Gateway to the Galloway Hills".

Virgin Money to shut a third of its UK bank branches

Nov 27,2021 5:54 am

By Faarea MasudBusiness reporter

Virgin Money Will Close 39 of its UK banks as fewer people use bricks and mortar branches and move to online banking, The Firm Said .

The News comes after several High Street banks including Lloyds and Halifax have shut branches.

The Unite union Said " access to a bank and cash is a fundamental need" for local High Streets.

Virgin Money Said the closures amount to a third of its banks and 255 workers will be At Risk of redundancy.

Chief operating officer Sarah Wilkinson Said The Firm would " pursue all options" to retain as many staff as possible within alternative roles.

The Banks that Will Close are: Belfast, Croydon, Harrow, Newton Stewart , Bournemouth, Derby, Hexham, Norwich, Brighton, Durham, Irvine, Oxford, Bristol, Ellon, Kendal, Reading, Bromley, Enfield, Kensington, Southampton, Cambridge, Exeter, Kingston, St Albans , Cardiff, Fort William , Liverpool, Swindon, Chelmsford, Golders Green , Lochgilphead, Turriff, Cheltenham, Gosforth Centre, London Haymarket, Wolverhampton, Chester, Guildford and Milton Keynes .

Branch visits drop

Last year, Lloyds Banking Group Said it would close 66 branches between October 2022 and January 2023.

In, The Group Said Halifax would close 18 sites, while Lloyds would shut another 22 between April and June.

But closures in some instances. When Lloyds Bank in Herefordshire closed traders were forced to travel miles with their takings.

" 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 Said . It added that the branches closing had seen a reduction of 43% in customer transaction volumes.

Some 96% of customers use the branches less than once a month, it added.

" Each store closing is less than half a mile from the nearest Post Office , which customers can use to carry out day‐to-day transactions, " Virgin Money Said .

Age Uk Said older or vulnerable people could struggle with online banking and called for more " banking hubs" which are spaces shared by several High Street lenders, meant to help communities that have seen all their bank branches close.

Virgin Money Said that after the closures it would have a network of 91 stores across the UK.

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Source of news: bbc.com

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