Breaking: AIB makes u-turn on cashless branch plans

AIB has taken the decision not to proceed with the planned changes to its banking services.

They had planned to make 70 branches nationwide cashless, including branches in Bishopstown, Carrigaline, Glanmire, and Western Rd; as well as from Castletownbere, Cobh, Dunmanway, Kinsale, Kanturk, Millstreet, Mitchelstown, and Youghal.

However, the company have, today, released a statement.

"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. 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," the statement read.

It continued: "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 An Post at its 920 post offices nationwide."