Bank bans withdrawals below €700 in branches
Published 04/11/2015 | 02:30
Bank of Ireland will restrict cash withdrawals and lodgements in its branches, in a move aimed at forcing customers to use electronic banking.
Customers will no longer be allowed to withdraw cash with the help of a teller in a branch unless the amount is more than €700, the Irish Independent has learned.
And the bank is also limiting cash deposits and cheque lodgements made with the assistance of a staff member to amounts over €3,000. Any face-to-face transactions outside these amounts will be banned.
The move has raised concerns for elderly people who prefer to deal with a real person or do not want to use ATMs due to security concerns.
Customers will have to use ATMs and self-service devices in branches instead.
Bank of Ireland has 250 branches and well over one million personal customers.
The Irish Senior Citizens' Parliament said the moves would hit older people hardest, as many were unfamiliar with electronic banking.
Bank of Ireland will also no longer issue paper statements to customers who are signed up for Banking 365.