All ATM machines will be closed between 1.30am and 6am on the morning of New Year's Day to facilitate the changeover to the euro by Irish banks.
At a briefing on its plans for the euro changeover today, the Bank of Ireland advised customers to withdraw enough cash in advance to see them through the New Year's Eve and early into New Year's Day.
The bank's head of euro planning, Michael Watson, also advised customers to use Laser cards in the initial weeks of the euro to help them avoid confusion and delay.
Bank of Ireland hopes to have nearly all its ATM machines, over 450, issuing euro notes by 5pm on New Year's Day.
Bank of Ireland said it expects to retrieve £1.6 billion of Irish punt notes during the changeover. It will also issue 53 million new euro notes worth over 1 billion euros, and 266 million euro coins, worth 76 million euro.
The bank also moved to calm fears that punts will be worthless once the currency loses legal tender status on February 9. Michael Watson said Bank of Ireland will exchange punts for euros for 'some considerable months' after February 9, even though retailers will no longer be obliged to accept the currency.
The bank is cautioning against what it calls 'paper pollution', whereby customers try to pay euro cheques with punt chequebooks, or vice versa. The bank advises customers not to use punt cheque books after December 31, but says all cheque in punts written on or before this date will be valid and cashable for six months from the date on the cheque.
In total, the bank has spent 76 million euros since 1996 on the changeover to the euro.
