{"id":1859,"date":"2022-07-19T16:00:33","date_gmt":"2022-07-19T15:00:33","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/aibs-decision-to-restrict-services-in-70-banks-amounts-to-effective-closures\/"},"modified":"2022-07-19T16:00:33","modified_gmt":"2022-07-19T15:00:33","slug":"aibs-decision-to-restrict-services-in-70-banks-amounts-to-effective-closures","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/aibs-decision-to-restrict-services-in-70-banks-amounts-to-effective-closures\/","title":{"rendered":"AIB&#8217;s Decision To Restrict Services in 70 Banks Amounts To Effective Closures"},"content":{"rendered":"<p><em><strong>It is not that long ago that the Irish public bailed out the banks, to the tune of \u20ac60 billion<\/strong><\/em><\/p>\n<p>The decision by AIB to remove cash services from 70 branches around the country will disproportionately negatively impact people in rural Ireland and elderly people, according to Social Democrats Finance Spokesperson R\u00f3is\u00edn Shortall.<\/p>\n<p>\u201cThe decision by AIB to remove cash services from 70 branches around the country, mainly in rural Ireland, amounts to the effective closure of these branches.<\/p>\n<p>\u201cThis will disproportionately negatively impact on people in rural Ireland, who will have to travel long distances for routine banking services, and elderly and vulnerable people, who are unfamiliar with online banking.<\/p>\n<p>\u201cThe decision is particularly egregious as it comes in the midst of the exit of both KBC and Ulster Bank from the Irish market, when hundreds of thousands of people are attempting to find a new bank.<\/p>\n<p>\u201cThis latest restriction of services from AIB begs an important question. Whose interests are banks there to serve? Because it is increasingly clear that those retail banks remaining in Ireland, who now enjoy a powerful monopoly, are determined to cut services to the bone.<\/p>\n<p>\u201cIt is worth noting that it is not that long ago that the Irish public bailed out the banks, to the tune of \u20ac60 billion \u2013 including \u20ac20.8 billion that was injected into AIB. In fact, the Irish State still owns nearly 65pc of AIB, making today\u2019s announcement even more incredulous.<\/p>\n<p>\u201cFinance Minister Paschal Donohoe must now reveal whether AIB informed him of these plans to restrict services in so many banks. The Minister should also reveal when the long-awaited review of the future of retail banking will be published.\u201d<\/p>\n<p>19 July, 2022<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is not that long ago that the Irish public bailed out the banks, to the tune of \u20ac60 billion The decision by AIB to remove cash services from 70 branches around the country will disproportionately negatively impact people in rural Ireland and elderly people, according to Social Democrats Finance Spokesperson R\u00f3is\u00edn Shortall. \u201cThe decision [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[88,7,264],"tags":[],"class_list":["post-1859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-press-release","category-roisin-shortall"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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