Digital Banking

Bank of Ireland cuts post office ATMs

Photo provided by iStock

October 26, 2020

The Bank of Ireland is cutting approximately 600 ATMs housed in post office branches causing concern for cash access in small communities. There are currently 2,000 ATMs in post office outlets throughout the country which are owned and operated by the Bank of Ireland, but it has decided to exit the business, according to a report in Talking Retail.

The postal service will take over the ownership and operation of ATMs in its outlets as part of a free-to-use $20 million ATM program. It will also become a member of the Link network which runs the cash machine system in the U.K.

The Post Office will also execute a subsequent ATM replacement program so that all post offices have the latest cash dispensing technology and security measures.

"In the areas where we have been unable to sustainably operate the existing ATMs, customers can still withdraw cash over the counter free of charge and in a secure manner," Martin Kearsley, banking director at the Post Office, said.