A TD has branded a move by AIB to make 70 branches across the country ‘cashless’ as “an act of utter contempt” for rural Ireland.
AIB said that the cost of providing cash services has become increasingly unsustainable due to “soaring” usage of digital banking services.
As a result, cash, ATM and cheque services will be removed from 70 of its 170 branches.
The outlets will be repurposed to focus more on account opening, financial planning, mortgages, loans, savings and investments.
The bank is also set to expand its partnership with An Post which will allow customers to access more extensive cash and cheque services in 920 post offices.
Independent TD Carol Nolan has called on AIB to immediately reverse its plan, which is due to be implemented this September and October.
The Laois-Offaly representative claimed that many people in rural Ireland will now have no alternative but to travel considerable distances to access services.
“In its statement announcing this shock decision, AIB actually had the gall to state that the rationale behind the move is to ensure that it can continue to provide ‘a modern, community-based, sustainable banking service’. Do they take us for absolute fools or what?” the TD said.
“This is a ruthless cost-cutting exercise dressed up as actions that are being implemented for the common good.
“I recognise that there will be a new level of collaboration with An Post; but unless An Post intends to drastically revise its opening hours, how are people who need cash at say 6:15p.m going to access it without an ATM?
“How are businesses who close on Saturday and who do not want cash on their premises over the weekend going to lodge their takings if the local post office is closed by lunchtime, which is the case in the vast majority of cases,” she added.
“What I am calling for here is the absolute bare minimum in terms of retention of services.
“This is a massive own goal for AIB and it will do significant reputational damage if it is not reversed,” Nolan concluded.