AIB reverses decision to end cash services at 70 branches following public unease

DUBLIN: AIB has reversed its decision to end cash services at 70 branches across the country following public and political demands.

The bank’s sudden decision met with strong opposition from business groups, consumers, farmers and rural organisations, forcing AIB management to reconsider the move.

In a statement, the bank said it had decided not to proceed with the proposed changes in recognition of the inconvenience caused to customers and public concern.

It said the original decision to remove cash services was made in the context of an evolving banking environment and an opportunity to improve its long-standing relationship with An Post.

The bank said: “In recent years there has been a dramatic increase in the use of digital banking services and a decline in branch visits and cash usage.

“In AIB’s case, there are 2.9 million daily digital interactions compared with 35,000 customer branch visits.

“There has been a 36% decline in cash withdrawals from ATMs and a 50% fall in cheque usage over the past five years.”

The bank reported a nearly 50% drop in branch over-the-counter teller transactions, while mobile and online payments grew by 85%.

AIB, which is majority-owned by the State, said it will continue to retain its 170-strong branch network in its entirety and will also continue to offer banking services through its relationship with An Post.