Nash hits out at AIB plan to cut services at 70 branches
Labour’s Finance spokesperson Ged Nash has hit out at the decision by AIB to withdraw cash services at 70 branches across the country.
“This tone deaf decision taken by executives of a majority State-owned bank who appear to be accountable to nobody is another nail in the coffin for relationship banking in Ireland.
“What makes it even more extraordinary is that this move was made when hundreds of thousands of Ulster Bank and KBC customers are looking for a new home for their accounts and in the middle of a government-led review into the future of retail banking.
“Monumental decisions like this impact on vulnerable customers, especially those who may not be comfortable doing transactions digitally.
“This will also have an impact on the commercial and social life of our towns.
“Serious consideration must be given to a pause or moratorium on branch closures at least until such time as the review has been completed and policy decisions have been taken.
“With the nature of retail banking changing by the day it is incumbent on the Central Bank to follow the lead of other countries and require the carrying out of full community impact assessments before banks are allowed to engage in significant changes to their branch networks.”