AIB Bank announces that two Offaly branches will become 'cashless'
The thought of a pub with no beer was considered so unlikely that someone once turned it into a song. Not very long ago, the notion of a bank with no cash would have seemed just as unthinkable.
However, AIB Bank yesterday (Tuesday) announced that 70 of its 170 branches, including two in Offaly, are to become 'cashless' from this autumn.
Birr and Edenderry are the Offaly branches affected by the change, which has been criticised by local councillor John Clendennen who described it as a "major blow for rural towns."
AIB said the decision to make the branches cashless was based on "falling levels of cash usage and cheque transactions, and a rise in the popularity of non-cash alternatives such as digital and card payments." It also pointed out that security costs and other costs associated with handling cash had increased.
The two Offaly branches are due to go cashless from September 30.
From that date, AIB said, "some of our branches will no longer offer cash and cheque services at the counter, or through machines inside the branch.
"This means we will not have notes, coins, cheques, foreign exchange, bank drafts; and will remove any drop safes and night safes. If there is an ATM outside the branch where services are changing, that will also be removed."
AIB said people would be able to continue using the 'cashless branches' to open an account or take out a loan, while banking services would also be available in nearby post offices.
AIB said Tullamore would be the nearest branch to Birr that would continue offering cash services, while Newbridge would be the 'non-cashless' branch closest to Edenderry.
Kinnity councillor John Clendennen said he strongly disagreed with the change and called for all services to be retained at the impacted locations.
"AIB must provide a firm commitment that this is not yet another stepping stone to full-scale closure of banking outlets in the capital towns of municipal districts that serve largely populated areas," he said.
"Covid can no longer be used as an excuse by any business operation to provide insufficient services. This announcement appears to be nothing other than a cost-cutting measure, and I firmly believe that ATM services should be maintained at a absolute minimum.
"AIB cannot take for granted or make the assumption that all banking customers can go about their daily business without access to cash, particular elderly members of society.
"An Post provide an exceptional service in towns and villages across the country, but the current restricted services must be provided without compromise to equal the service that have been provided at AIB outlets.
"I will be working with my fellow Fine Gael councillors in Offaly, and with Deputy Charlie Flanagan, to ensure this announcement does not have a negative affect on any banking customer that predominantly relies on cash," he stated.
The AIB announcement this week was also criticised by Aontú party leader Peadar Tóibín.
"AIB operates by licence from the State yet unilaterally deletes cash availability from customers. This is not good enough," said Deputy Tóibín.
"There is a significant banking review underway which should be the location for discussions such as this. Yet AIB has ignored its collective responsibility to customers.
"AIB has shown complete disregard for the Irish people by removing cash services in 70 branches.
"Our banking sector is in complete disarray with the withdrawal of KBC and Ulster Bank. The market is over concentrated in the hands of just a few operators. This gives the remaining banks enormous supplier power and now they can do what they want.
"As families struggle across the country, AIB has shown that it’s only committed is to increasing shareholder dividends and not to its customers," he commented.