Concern over Bank of Ireland changes


Galway East TD Paul Connaughton has written to the Governor and CEO of Bank of Ireland expressing his concern over changes to banking arrangements announced today which mean that Bank of Ireland customers can no longer withdraw sums less than €700 from cashier desks and will have to make lodgements under €3,000 at in-bank ATMs.

‘I have a number of concerns in relation to today’s announcement. Firstly, it reflects a lack of concern for the individual requirements of Bank of Ireland customers. People who do not currently use banking technology, elderly people and people with literacy or language difficulties will find it increasingly difficult to do their everyday banking with Bank of Ireland. I know that Age Action has already voiced concerns on behalf of elderly people and I will be adding my voice to those calls.

‘This cost-saving measure undertaken by Bank of Ireland is aimed at reducing staff requirements in Bank if Ireland branches and is not focused on customers and their individual needs. A great many people do not engage with banking technology and if they received cash or cheques to the value of under €3000 would want to lodge those at their local bank. Now they are being told that they cannot do so with a cashier and instead have to do that at an in-bank ATM. While the bank has assured people that there will be arrangements in place to help customers make the transition, I don’t believe that is good enough as in a few short months these changes will be fully transitioned.

‘I believe that when people opted to bank with Bank of Ireland, and in some cases this decision was made decades ago, they did so in the belief that their business would be welcomed by the Bank, that they would be welcome in branch and that they could lodge and withdraw their money in the bank. Most people don’t deal in sums over €700, or make lodgements over €3,000, so this change is a fundamental change to the terms and conditions of Bank of Ireland.

‘I have written to the Governor of the Bank of Ireland Mr. Archie Kane and CEO Richie Boucher expressing my concerns, especially the fact that this will make banking with Bank of Ireland particularly difficult for elderly people, people who do not engage with banking technology and people with literacy and language difficulties.’