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Bank Of Ireland Way Out

Bank Of Ireland Customers Not Happy About Plans To Curtail Cash Withdrawals

4 November 2015 Latest News Local News National News News

There has been outrage among Bank of Ireland customers, after bank officials announced new draconian regulations which will affect how many people carry out their banking.

The Bank of Ireland says customers will soon no longer be able to withdraw less than €700 or lodge less than €3,000 at the counter in some of its branches. Instead, customers will have to use ATMs or electronic banking.

Instead of using “human” help, customers will be directed to the ATMs at the branch to carry out most of their business. Senior citizens in particular will be badly affected by the move, as they may be unfamiliar with electronic banking.

In a statement, Bank of Ireland said it understands these changes may be a new way of banking for some of its customers and branch teams will be available to help.

Age Action today accused Bank of Ireland of ignoring the needs of its older customers with the new rules.

Head of Advocacy and Communications at Age Action Justin Moran said: “Many of our members are already frustrated with how difficult some banks make it to engage face to face. The changes proposed by Bank of Ireland, trying to force people to carry out their business online, are only going to make that worse and it’s clear older people were completely ignored in making this decision.

Minister for Finance Michael Noonan said he considered the changes “surprising and unnecessary”.

In a statement, he said he expects the bank to fully honour its commitment to assist more vulnerable customers in its branches and would welcome a clarification from the bank on the issue.

According to the National Digital Strategy, the majority of people aged 60 and over have never been online. It said only 3% of people aged over 75 have ever used the internet.

It is understood that no other banks have similar plans in the pipeline.

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