AIB u-turn on cashless banks

The AIB has made a u-turn on its decision “go cashless” at 70 of its branches, including Kells.

There had been a furious reaction locally to plans by AIB to stop processing cash at the Kells branch from 20th October.

The bank had said it would no longer offer cash and cheque services at 70 branches nationwide.

This meant they would not have notes, coins, cheques, foreign exchange, bank drafts, and would also have removed any drop safes and night safes.

Hwever AIB has said today that it is reversing its decision in a move that has been described as “a victory for people power.”

An AIB statement this morning said; “Recognising the customer and public unease that this has caused, AIB has decided not to proceed with the proposed changes to its bank services.

“The bank continues to retain its 170-strong branch network in its entirety and will also continue to offer banking services through its relationship with at An Post at its 920 post offices nationwide.”

Deputy Peadar Toibin said “We welcome the decision by AIB to reverse their decision to close cash services at 70 banks.  However the crisis in banking will continue unless there is the provision of proper competition in the banking sector. There is a disastrous lack of competition within the banking market. It is the root cause of the continuing dysfunction in banking throughout the state."