The Oxford branch is among 38 Virgin Money outlets that will be closing their doors, the bank announced.

Around 255 jobs will be cut nationwide, with bosses citing a fall in footfall and more people banking online.

The 39 stores earmarked for closure represent a third of Virgin Money's branches nationwide.

Oxford’s Virgin Money branch in the city's High Street will shut, along with branches in neighbouring towns Swindon, Reading, Milton Keynes and Guildford.

No estimate was given for when the branches will close. However, customers at each branch will be written to and posters put up in store at least 12 weeks before the closure.

Virgin Money’s chief operating officer Sarah Wilkinson 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.

“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.”

In a press statement, the banking business said the branches being closed have seen the number of customer transactions fall by an average of 43 per cent since the start of the pandemic in 2020.

Full list of Virgin Money branches closing

  • 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 
  • Milton Keynes