Fine Gael TD for Limerick City, Kieran O’Donnell, has strongly criticised Bank of Ireland for restrictions it is imposing on over-the-counter lodgements and withdrawals. The bank has announced that it will no longer handle cash withdrawals of less than €700 and lodgements of less than €3,000.
“Bank of Ireland is effectively slamming the door on many of its customers. This measure ignores the specific needs of older people and small businesses. These same people along with the rest of the Irish public supported Bank of Ireland in its hour of need. It is quite amazing that Bank of Ireland has taken this unilateral action without having consulted people as to how it would affect them.
“Indeed, this measure may encourage many of its customers to keep money at home which will leave them more vulnerable to criminals.
“This reduction in services is causing great anxiety amongst Bank of Ireland customers and I am calling on them to reverse this flawed decision.
“The bank has said this is being done for “commercial” reasons. It should consider how much it will save as a result of this measure and whether it is worth the reputational damage and loss of goodwill from its customers and the wider public.”