DUBLIN: Minister for Finance Michael Noonan has described restrictions to be imposed by Bank of Ireland on over-the-counter lodgements and withdrawals as both “surprising and unnecessary”.
Mr Noonan said the changes, which will block bank staff from handling withdrawals of less than €700 and lodgements of less than €3,000, was “a commercial decision for the bank”.
He noted the bank’s commitment to assist more “vulnerable customers” in its branches.
“I expect the bank to fully honour this commitment and ensure that customers will be facilitated through the existing arrangements where required. I would welcome a clarification form Bank of Ireland on the issue,” he said in a statement.
In response to the Minister’s statement, the bank appeared to soften its stance and said “vulnerable customers, together with those elderly customers who are not comfortable using self-service channels or other technology solutions, will be assisted by branch staff to use the available in-branch services”.
Under new rules, designed to streamline in-branch services, Bank of Ireland said withdrawals of less than €700 will no longer be facilitated with the assistance of tellers.
From mid-November, customers will have to use ATMs or mobile devices for small and modest-sized withdrawals.
