Relief for Inishowen customers as AIB reverses decision to go cashless

AIB has reversed its decision to end cash services at its two Inishowen branches, it has been confirmed.

The move follows a backlash to the move from business groups, consumers, farming and rural organisations and politicians throughout the country.

In a statement, the bank said that recognising the customer and public unease that it has caused, it had decided not to proceed with the proposed changes.

"In recent years there has been a dramatic increase in the use of digital banking services and a decline in branch visits and cash usage," the statement read.

"In AIB's case, there are 2.9 million daily digital interactions compared with 35,000 customer branch visits.

"There has been a 36% decline in cash withdrawals from ATMs and a 50% fall in cheque usage over the past five years."

The bank added that it has seen a fall of almost 50% in branch over-the-counter teller transactions, while mobile and online payments have increased by 85% in that same timeframe.

The lender, which the State owns a majority of, said it will continue to retain its 170-strong branch network in its entirety, including Buncrana and Carndonagh, and will also continue to offer banking services through its relationship with An Post.

The bank had said that it will expand its relationship with An Post, where more cash and cheque services will be made available.