AN MP has asked Virgin Money to relocate a cash machine following the announcement that 22 branches would close.

The company said yesterday that 500 jobs were being cut and 22 branches would close, while a further 30 branches would be consolidated after a merger between Clydesdale and Yorkshire Bank and Virgin Money.

Stockton North MP Alex Cunningham said the news that Virgin Money would be closing its Stockton High Street branch in July, consolidating its offer within the existing Yorkshire Bank branch on the High Street, was "disappointing".

He has called for the company to relocate the cash machine at the bank.

He said: “It is deeply disappointing that Virgin Money are choosing to leave their high street location, leaving another lot empty.

“The closure of this service will result in the loss of one free cash machine.

"Reports have shown that while a cashless society can have great benefits, 17 per cent of the population struggle without access to cash.

"I hope Virgin will confirm that they will be looking to replace this ATM in another location.”

The branch is set to close on July 8, Mr Cunningham said.

Virgin Money said the branch closures would allow the bank to ensure it has a network that is “fit for the future” and reflects how customers want to use its services.

The number of customers who want to use branches for day-to-day banking has been falling, Virgin said.