AIB Withdrawal of Services
Not everyone has access to digital banking and the banks have a responsibility to serve all their customers. Small businesses and many members of our community rely on their local banks for cash withdrawals and deposits.
Many of you have expressed your outrage and frustration to me about AIB’s decision to withdraw a substantial proportion of its community banking services. This is particularly concerning for vulnerable service users and small businesses who rely on cash services provided in bank branches. I have grave concerns about how this move will impact enterprise on our main streets. Already, AIB has shut its Templeogue Village and Terenure branches. This latest decision effectively closes AIB Rathfarnham Dublin, including it’s much-used ATM.
In Q3 of 2021, Bank of Ireland began the process of closing down 88 separate bank branches. The departure of Ulster Bank from the Irish market along with AIB and Bank of Ireland’s closures/withdrawals leaves a significant number of suburbs of our cities with no banking services.
Like many, I acknowledge that digital banking and new platforms such as Revolut are changing how consumers save and spend money. However, we must also acknowledge that cash services remain vital to many SMEs in our economy.
It is unacceptable and myself and my Fianna Fáil party colleagues are seeking a meeting with government to discuss how it can be prevented.