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Unregulated firms take over cash while banks withdraw from ATMs

Report comes after AIB shelved branch closures and Central Bank of Ireland says cash is important to those who are digitally marginalised and the vulnerable

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By the end of this year, banks will own fewer than a quarter of ATMs. Stock image.

By the end of this year, banks will own fewer than a quarter of ATMs. Stock image.

By the end of this year, banks will own fewer than a quarter of ATMs. Stock image.

Three out of every four ATMs in Ireland are now owned and operated by unregulated cash distribution companies due to a massive shift towards outsourcing by retail banks.

By the end of 2022, just 25pc of the country’s ATM networks will belong to the banking system, down from 100pc bank ownership in 2015, according to Central Bank data seen by the Irish Independent.


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