STRATEGIC PARTNERS
December 4, 2001
DUBLIN -- All ATMs in Ireland will shut down shortly after midnight on Jan. 1 for a minimum of four-and-a-half hours to facilitate the changeover to the euro, according to a report in the Irish Independent.
Bank of Ireland on Nov. 4 warned people to stock up on pounds in advance of New Year's Day, when the bank would usually expect to process 150,000 withdrawals.
All Irish banks are expected to shut down their ATM networks by 1:30 a.m. and bring machines back on line beginning at 6 a.m. A spokesperson for Bank of Ireland said that the times chosen to shut down ATMs were traditionally the quietest time for cash withdrawals.
Although Bank of Ireland said that busier locations would be converted first, it is expected that 90 percent of its ATMs will be back in service by the end of the day.
No physical changes will be made to machines as euro notes are about the same size as Irish pounds, but considerable software changes will be required.
Banks will close to the public on Dec. 31, a day when they are normally open, to allow branches to prepare for the currency transition.
Announcing details of its changeover procedures, Bank of Ireland said that coin deliveries to branches were already completed, and that note deliveries would conclude this week. The bank has conducted nine changeover "rehearsals."Bank of Ireland has also hired some 330 temporary staff members to assist in the changeover.
In total, the bank has spent 76 million pounds since 1996 to prepare for the changeover to the euro.
Pounds will still be acceptable until Feb. 9, but Irish citizens are being encouraged to begin using euro as quickly as possible.
