Banking Sector

Dáil Éireann Debate, Tuesday - 26 July 2022

Tuesday, 26 July 2022

Ceisteanna (385, 386, 388, 392, 393, 398, 400, 403, 405, 406, 429, 430, 443, 449, 454)

Seán Sherlock

Ceist:

385. Deputy Sean Sherlock asked the Minister for Finance if he will engage with a bank (details supplied) to put a halt to the switch to cashless branches as announced by the bank this week. [40946/22]

Steven Matthews

Ceist:

386. Deputy Steven Matthews asked the Minister for Finance if his attention has been drawn to the decision by a bank (details supplied) to remove cash services from 70 banks nationally; the engagement that he has had with the bank in relation to this decision; and if he will make a statement on the matter. [40952/22]

Thomas Gould

Ceist:

388. Deputy Thomas Gould asked the Minister for Finance the date that he was informed of the decision by a bank (details supplied) to withdraw cash services from 70 branches. [40970/22]

Malcolm Noonan

Ceist:

392. Deputy Malcolm Noonan asked the Minister for Finance his views on the plans by a bank (details supplied) to make 70 of its branches cashless and the negative impact that this will have on those in rural areas in particular. [41009/22]

Holly Cairns

Ceist:

393. Deputy Holly Cairns asked the Minister for Finance his response to the announcement from a retail bank (details supplied) that 70 branches will no longer offer cash and cheque services at the counter or through machines inside the branch. [41032/22]

Róisín Shortall

Ceist:

398. Deputy Róisín Shortall asked the Minister for Finance if a bank (details supplied) informed him of its plans to remove cash services from 70 branches prior to announcing the decision; his plans to assist those most impacted by this restriction of services, particularly persons in rural areas and elderly people; and if he will make a statement on the matter. [41182/22]

Pádraig O'Sullivan

Ceist:

400. Deputy Pádraig O'Sullivan asked the Minister for Finance if he will engage with a bank (details supplied) regarding the recent decision by the bank to make 70 branches cashless; his views on the fact that the bank did not consult or engage with customers prior to this decision; and if he will make a statement on the matter. [41185/22]

Johnny Mythen

Ceist:

403. Deputy Johnny Mythen asked the Minister for Finance if he will contact a bank (details supplied) in relation to the recent proposals to avert to cashless transactions in Gorey and New Ross, which will result in many persons and small community and rural businesses being financially stranded; and if he will make a statement on the matter. [41230/22]

Alan Dillon

Ceist:

405. Deputy Alan Dillon asked the Minister for Finance if he was consulted by a bank (details supplied) on its decision to make 70 branches cashless across the country; if he is concerned that pillar banks are now making commercial decisions to downgrade essential financial services; and if he will make a statement on the matter. [41270/22]

Brendan Griffin

Ceist:

406. Deputy Brendan Griffin asked the Minister for Finance if he will use the majority shareholding in a bank (details supplied) to prevent the withdrawal of cash services from rural bank branches; and if he will make a statement on the matter. [41292/22]

Matt Carthy

Ceist:

429. Deputy Matt Carthy asked the Minister for Finance if he has carried out an economic assessment on the impact of a bank (details supplied) removing cash services from 70 branches; and if he will make a statement on the matter. [41584/22]

Matt Carthy

Ceist:

430. Deputy Matt Carthy asked the Minister for Finance if the Government will use its shareholding in a bank (details supplied) to influence the decision to remove cash services from 70 branches; and if he will make a statement on the matter. [41585/22]

Holly Cairns

Ceist:

443. Deputy Holly Cairns asked the Minister for Finance his engagement with a retail bank (details supplied) concerning a decision no longer to offer cash and cheque services at the counter or through machines inside the branch at 70 branches before the decision was publicly announced. [41755/22]

Ged Nash

Ceist:

449. Deputy Ged Nash asked the Minister for Finance when his Department officials were informed, under the terms of the State's relationship framework with a bank (details supplied) that the bank plans to withdraw cash services from 70 of its branches; his views on the fact that a decision of this nature was taken before the completion of his Department's retail banking review; and if he will make a statement on the matter. [41765/22]

Brendan Smith

Ceist:

454. Deputy Brendan Smith asked the Minister for Finance if he will engage with the Central Bank and with a bank (details supplied) as a matter of urgency in relation to this retail bank's recent decision to reduce substantially its services to customers, causing a further diminution in financial services available to many rural communities; and if he will make a statement on the matter. [41920/22]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 385, 386, 388, 392, 393, 398, 400, 403, 405, 406, 429, 430, 443, 449 and 454 together.

I wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including AIB's original announcement on 19 July 2022 to re-purpose 70 of its branches across the country, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The bank's independence is protected by a Relationship Framework which is a legally binding document that cannot be changed unilaterally. This framework, which is publicly available, was insisted upon by the European Commission to protect competition in the Irish market.

On Friday 22 July 2022, AIB, having recognised the customer and public unease its original announcement had caused, announced that it has decided not to proceed with the proposed changes to the 70 branches and that cash services would remain in these branches. AIB will continue to retain its 170-strong branch network in its entirety and will also continue to offer banking services through its relationship with at An Post at its 920 post offices nationwide.

Banks have a key role in maintaining the flow of cash through the economy and ensuring appropriate access to retail banking services for all in society, including the vulnerable. I would like to point out that access to cash and branch services is a key focus of the work of the Retail Banking Review, which is currently underway. The public consultation process, which is part of the Review, sought the views of all stakeholders, including members of the public, in this regard. The public consultation concluded on 8 July 2022. The Banking Review team is reviewing the responses received in preparing the draft report which is due with me in November 2022.

Question No. 386 answered with Question No. 385.