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AIB must abolish service charges after closing cash facilities – Ahearn

Central Bank needs to show oversight for customers

20th July 2022 - Senator Garret Ahearn

Banks refusing to take cash from customers must abolish service charges, Fine Gael Senator Garret Ahearn has said.


The Tipperary Senator was speaking as Allied Irish Bank (AIB) decided 70 of their 170 nationwide branches will cease all cash facilities.


“The Central Bank issue banking licences in this country and maintain that their role in the financial sector is to ensure that the best interests of consumers are protected. They need to get involved here immediately. If a bank no longer wants to provide a cash service to a loyal community, they should not be hitting them with service charges,” Senator Ahearn said.


Between early September until October 21, AIB will withdraw the cash machines, safety deposit boxes, night safes or cheque lodgements from 70 branches including Cahir, Dingle, Abbeyfeale, Birr, Castletownbere, Gort and Wicklow town.


Senator Ahearn described the move as “complete ignorance”.


“Many people want to continue using cash. The pandemic changed a lot of aspects of our lives, but cash is still legal tender and many much prefer to use it as a choice of payment.


“Telling people they can do their banking online when many choose not to or cannot avail of such a service displays a complete lack of knowledge of the issue. AIB must abolish service charges for those affected,” he said.


AIB Service Charges cover a wide range of services including duplicate bank statements, credit transfers, standing orders and other services.


“The European Central Bank is the competent authority in Ireland for granting banking licences, and delegates to the Central Bank. The Central Bank must use their influence here and show they are watching out for customers’ interests,” Senator Ahearn said.

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