The financial services brand, which plans to bid for some of the state-owned Northern Rock and Lloyds Banking Group branches, has long stated its aim to become a major high-street bank.
According to a Virgin Money spokesman, the lounges will be open to existing customers, who will be invited to use them to relax and enjoy free coffee, wi-fi, and gadget such as iPads. The aim is to make people "want to stay" and engage with the Virgin Money brand.
The four centres will open in London, Edinburgh, Norwich and Manchester, beginning with the Edinburgh lounge later this summer, with other openings subject to planning permission. Virgin Money also intends to open 70 bank branches over the next five-year period, with each following a similar informal model to the lounges.
In January 2010, Virgin Money gained a banking license . At the time of the acquisition, Jayne Anne Gadhia, Virgin Money chief executive, said the brand would provide a "better, different form of banking" for customers.
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