Active Retirement Ireland Slams "Unbelieveable" Bank of Ireland Decision
Active Retirement Ireland (ARI), the country’s largest community based older people’s organisation, has today criticised Bank of Ireland's decision to restrict over-the-counter cash withdrawals and lodgements. From mid-November, customers will have to use ATMs or mobile devices for small and modest-sized withdrawals, under new policies from the bank.
"The decision to withhold face-to-face services from people withdrawing less than €700 or lodging less than €3,000 is senseless and, quite frankly, unbelieveable," said Active Retirement Ireland's Head of Communications and Public Affairs, Peter Kavanagh, "It is a decision that obviously doesn't take older people into account and will disproportionately affect the poorest and most marginalised in society."
"While more and more older people are becoming familiar with electronic banking, many of the most vulnerable are still not comfortable using ATMs or banking online," Kavanagh said, "The social interaction with staff in-branch is also a vital outlet for the most isolated older people."
The organisation also said there were possible consequences for rural older people. "We're quite worried that this kind of policy will encourage older people to keep large amounts of cash in their homes, and with burglaries and home invasions reaching crisis point this is going to have dire consequences for older people, particularly in rural areas," said Kavanagh.
