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Fianna Fáil TD seeks emergency meeting with minister over AIB move

Fianna Fáil TD James O'Connor is seeking an emergency meeting with the Minister for Finance
Fianna Fáil TD James O'Connor is seeking an emergency meeting with the Minister for Finance

Fianna Fáil TD James O'Connor has written to members of the parliamentary party, seeking their support for an emergency meeting with the Minister for Finance over the decision by AIB to make 70 of its branches cashless.

In his letter to fellow TDs and Senators, Mr O'Connor said he does not believe it is acceptable that "we as a party would allow the banks to go unchallenged in their latest efforts to curtail community banking services".

On Tuesday, AIB announced that another 70 of its branches would go cashless, adding that the decision was taken to focus on account opening, financial planning, mortgages, loans, savings and investments.

However, the Cork East TD said that the decision had led "outrage" and "frustration".

He told party members that it would affect "vulnerable service users and small businesses who rely on cash services provided in bank branches".

Mr O'Connor said that "digital banking and new platforms such as Revolut are changing how consumers save and spend money. However, we must also acknowledge that cash services remain vital to many SMEs in our economy".

The announcement by AIB has sparked fury in Kerry and an emergency motion was tabled by seven councillors at the municipal district meeting of Kerry County Council held in Castleisland, calling upon Taoiseach Micheál Martin and Minister for Finance Paschal Donohoe to intervene.

AIB has said that it will be expanding its services with An Post to allow customers access cash and cheque services in post offices.

The bank said that the cost of providing cash services had become "increasingly unsustainable".