In major u-turn, AIB decides not to go ahead with 'cashless' branches plan
In a major u-turn today (Friday), AIB Bank said it would not proceed with plans to make 70 of its branches, including several in the Midlands, 'cashless' this autumn.
The change, which has been announced on Tuesday, would have seen the removal of ATM services and cash lodgements and withdrawals from AIB branches including those in Ballinasloe, Birr, Edenderry and Longford.
However, in the last few days, there has been mounting pressure on the bank to reverse the decision which was seen by many as another major blow to rural communities.
Farmers' groups, the vintners' association and a number of politicians were among those who hit out at the move, and yesterday (Thursday) Taoiseach Micheál Martin called on the bank to reconsider its decision.
In a statement today, AIB said it had decided not to proceed with the plan to make the 70 branches 'cashless'.
The bank said it was not going ahead with the change due to the "customer and public unease" the decision had caused.
"AIB has decided not to proceed with the proposed changes to its bank services," its statement said.
The bank said there had been a decline in branch visits and cash usage in recent years, stating that cash withdrawals from ATMs were down by 36%, while cheque usage had fallen by 50% in the past five years.
"AIB has also seen a fall of almost 50% in branch over-the-counter teller transactions, while mobile and online payments have increased by 85% in that same timeframe.
"It was in the context of this evolving banking environment and the opportunity to enhance its long- standing relationship with An Post that AIB took the decision to remove cash services from 70 of its branches.
"However, 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," AIB stated.