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AIB going cashless around Kerry.

1235

Comments

  • Registered Users, Registered Users 2 Posts: 3,186 ✭✭✭patnor1011


    Not clever comparison. You seems to not realize that postal orders or travelers cheques were just a tools to move cash around. Cash is going to stay as it did for millennia. Cashless society is a dream which we may wake up from one day. Stuff like few days long power outage will put and end to this debate.



  • Posts: 0 [Deleted User]


    AIB says that each day its systems have 2.9 million digital interactions with customers, compared with 35,000 customer branch visits.

    The lender claims there has been a 36% decline in cash withdrawals from ATMs and a 50% fall in cheque usage over the past five years.

    And it says it has also seen a fall of almost 50% in branch over-the-counter teller transactions, while mobile and online payments have increased by 85% in that same timeframe.

    https://www.rte.ie/news/business/2022/0722/1311731-aib-u-turn-represents-victory-for-customers/

    Those numbers don't lie and Covid has sped it all up.



  • Registered Users, Registered Users 2 Posts: 70,300 ✭✭✭✭L1011


    You're rather missing the point here

    Independent operators do not - and can not - charge fees. It's not legal here. Charlie Weston scaremongering doesn't get past that rather major issue.

    You are telling people to check their statements when it's clear you have not done so yourself.


    The vast, vast bulk of ATMs in Ireland are independent and have been for years, as the three banks with substantial networks sold theirs. Nobody with an Irish account is getting charged extra for using them.



  • Registered Users Posts: 685 ✭✭✭TallGlass2


    Slightly out of context here but might give an example of how things might go. I use Revolut all the time, in Ireland always free, usually in EU its free, but one machine tried to charge me 3€ in Spain. I can only imagine a situation with no other operators around to get cash you'd be fairly snookered into what ever charge they'd like.

    This cashless society heavily pushed is starting to fall apart, mainly due to the non supply of constant energy, if you have a physical note your at an advantage over someone with well maybe ifs and buts money in there account but no power literally to reach it.



  • Registered Users, Registered Users 2 Posts: 11,573 ✭✭✭✭Jim_Hodge


    Not slightly but massively out of context. He insisted there were currently extra charges for using non-AIB ATMs in Ireland. A completely different ball game .



  • Registered Users, Registered Users 2 Posts: 16,674 ✭✭✭✭whisky_galore


    Shame the public cant push back against housing crisis inaction, but then again a lot of us have a dog in that fight and would rather people living on the street than their properties losing value.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    It's not people want to see anyone homeless, they just want to see them living in another part of the country so it has zero affect on them

    The public spend a lot of time complaining about no houses etc and then as soon as someone tries to build a house in their area they reject it ASAP. Then a few days later will be complaining because little Jonnie can't buy a house within 100 miles of them.



  • Registered Users, Registered Users 2 Posts: 4,477 ✭✭✭PokeHerKing


    Revolut are only free up to 200e a month. Anything over that is charged.

    I remember when they first came out 6/7 years ago everything was free, foreign exchange and all!



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    I used revolut non stop for the last few weeks in UK, every so often I had to log into the account to reset the amount of taps but I got charged nothing

    Yes ATM withdrawal you get charged once you go over 200 euro

    But if you plan to use that function then the monthly fee will be cheaper.

    Most banks are already charging people for using a card and the fees of taking cahs out are going to increase very soon if not already. Once KBC and Ulster Bank leave market watch all those banking fees sky rocket



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  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    For the people of Kerry they had nothing to fear, they had the right men to sort the problem

    (Please note they arrived in AIB seemingly after the decision was changed)




  • Registered Users, Registered Users 2 Posts: 14,096 ✭✭✭✭Igotadose




  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel




  • Registered Users, Registered Users 2 Posts: 4,477 ✭✭✭PokeHerKing


    I don't pay anything for revolut. I only use it to keep track of monthly discretionary spending amd sending money to people on nights out etc. I've free banking with PTSB.

    Revolut was revolutionary when it first came out. FX rates well above your standard amazon rate, free fx cash withdrawals etc.

    But in the last few years since its popularity has increased its much less so.

    The only thing it does is instant trf but that exists with standard banks as well, you just need to be in the same bank. Which of course is the same limitation revolut has.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    You don't have free banking with PTSB. You have a mortgage with PTSB which is why you get banking for "free". But they are just making sure your current and mortgage is with them and making money off you that way.

    No bank is giving you anything free.

    I am with KBC and they offer "free banking" but it was only based on the customer doing abc which means you are just paying for the current account via the mortgage



  • Registered Users, Registered Users 2 Posts: 4,477 ✭✭✭PokeHerKing


    My mortgage is not with PTSB.

    There's no strings attached to my C/A with PTSB, it's just a standard C/A. A very old one but standard none the less.



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  • Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,525 Mod ✭✭✭✭Cabaal


    I'm finding it a little amusing that many, many people outraged with AIB are saying they are going to switch to BOI instead.

    They are clearly clueless about BOI as BOI wanted to switch to cashless banks for about 100 branches about 4 years ago, but due to backlash they didn't do this. But then last year they closed 88 branches completely.

    This "victory" isn't a victory at all, we'll see AIB up charges and likely in 1-3 years they'll start closing branches rather then going cashless.

    People saying they need cheque's etc are fighting a loosing battle. Vast majority of business accept cards and that includes tradesmen who are happy to accept bank transfers and card payments now.

    Yes card payments cost a business money, but dealing in cash also costs a business money and it has with it higher risks such as theft. I've dealt with a number of businsses including garrages who when I asked them cash or card stated they wanted card instead of cash because it costs them less and saves them time lodging etc.



  • Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,525 Mod ✭✭✭✭Cabaal


    None of the banks are interested in rolling out ATN's.

    AIB sold off its outside ATM network in the last 2 years (the one's you see in shops), ATM's are going the way of video shops. You won't see them in a few years.



  • Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,525 Mod ✭✭✭✭Cabaal


    If you depend on cash like this I suggest you never go to Iceland.



  • Registered Users, Registered Users 2 Posts: 3,450 ✭✭✭NSAman


    It must be great to always be right!

    perhaps others disagree with your stance, obviously those who feel being able to access their cash when they need to, are wrong.

    seems to me only one with a sense of inflated self is yourself.



  • Registered Users, Registered Users 2 Posts: 3,450 ✭✭✭NSAman


    Have been thanks. Lovely country, spectacular views and countryside. Alas unlike many I still like the ability to have cash on me.



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  • Registered Users, Registered Users 2 Posts: 21,496 ✭✭✭✭Alun


    Went there about 4 years ago, I never even got to know what Icelandic money looks like.



  • Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,525 Mod ✭✭✭✭Cabaal


    Exact same here.

    You basically can't get the money before you travel, but everything is setup for card there when you go.

    It all works very well



  • Registered Users, Registered Users 2 Posts: 30,278 ✭✭✭✭Wanderer78


    brought some just encase, never used it, a truly stunning country, cant wait to return

    ...it really is time for a network of public banks, as this nonsense wont ever stop with our current lot!



  • Posts: 0 [Deleted User]




  • Posts: 0 [Deleted User]


    What nonsense?

    And who is going to pay for this magic public bank? Consumers do not want to pay bank charges, there is uproar any time charges are raised.

    And our high mortgage interest rates are thanks to the clowns who won't pay their debts, blame everyone but themselves for their stupid over borrowing, but for some reason get celebrated as being a hero for getting one over on the bank when they are in fact hitting the normal citizen in their pocket.



  • Posts: 0 [Deleted User]


    Sounds glorious. All taxes paid so and funds good public services.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    I am 100% behind public banks and so should you. If you are struggling to understand how they can work then look at the German system.

    The Green party are the only ones who are pushing public banking.

    With the removal of KBC and Ulster Bank from Ireland, the competition in the market is very low and we need something to bring that back up. Public banking should be on everyones agenda



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    ATM's are a massive cost

    First the cyber security required for them is high, trying to connect back into main system. Plus becuase they are connected back in they offer hundreds of points to connect into the main bank. Then firmware updates

    Then you have to have video security running on them

    Then you have to have security bring cash to/from them

    Then you have guys going around with digger taking them out of banks/shops etc with huge repair bills.

    Then you have the insurance costs on all of the above because they are deemed high cost

    ATM started to die years ago, look at the number now compared to a few years back. It more of a slowly slowly approach



  • Registered Users, Registered Users 2 Posts: 12,759 ✭✭✭✭Calahonda52


    RE I can think of dozens of ATMs near me in places like Spar, Centra, filling stations, super markets and other services like lodgment can be done at the post office, whats the big issue?

    Use them at your peril, many are used for getting fake notes into the system by organised crime syndicates

    As for the dozens, can you list them within walking distance of you?

    “I can’t pay my staff or mortgage with instagram likes”.



  • Registered Users, Registered Users 2 Posts: 30,278 ✭✭✭✭Wanderer78


    ...its clearly obvious that our banking system is no longer truly interested in being citizen centric, as its main focus is not ultimately for its share holders, and maximizing so, this means our needs will never be truly prioritised, they only way to counter act this is by the creation of our own public banking network, these already exist in many countries, and seem to work reasonably well, with issues of course...

    paying for the creation of such a critical public function would come from the normal means of taxation and borrowing, baring in mind, some public banks were largely unaffected by the 08 crash, due to the sometimes more conservative nature of the business model, compared to its private sector counterparts, some public banks didnt actually needed to be bailed out due to this, and motored on regardless of the crash, and are still generally doing fine....

    our higher rates are ultimately due to the failure of the private sector banking system from the crash, as these banks were engaging in widescale reckless lending during the previous boom, its always important to remember, 'behind every bad borrower, is a bad lender'!

    its time for us to protect ourselves from the dangers of these institutions, and public banking could very well be a method of doing so.....



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  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    So organised crime syndicates are now using ATM to push fake notes into the system? sounds like pub talk to me

    Plus if that is the case, another reason to get rid of cash out of circulation. Can't have fake notes when no notes exist.



  • Posts: 0 [Deleted User]


    ...

    Ultimately the individual borrowed the funds. The banks definitely facilitated it, as did mortgage brokers, but personal responsibility has to come into this. However society seems to be moving away from personal responsibility so its easy to blame the bank and the broker for Mary stupidly borrowing €600grand to buy a poorly built apartment in Balgriffin so she could get on the property ladder.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭brokenangel


    😂

    I agree, some people really need to take responsibility for the crash. People bought houses they could never afford and then it was everyone elses fault.

    The problem I see is that a lot of people are stupid, banks are supposed to be the sensible one and when Mary came looking for 600k the bank should have said, no f**king way Mary you are only on 50k a year, you will never pay this off. But the person in the bank was on commission so they sold the 600k mortgage and moved to the next Mary

    So yes Mary was stupid, but so was the Bank when it knew Mary could never pay it off

    P.S. Mary is back "looking to get on the property ladder"

    You have the main opposition parties complaining because the advice to build a proper rental system after the crash is now robbing Mary of her "forever home" :-)



  • Registered Users, Registered Users 2 Posts: 18,364 ✭✭✭✭rob316


    What AIB will do now instead is just start closing branches. Cash will be virtually gone in 2 years I reckon. I'm in retail and cash is about 20% in weekly sales possibly less and our premises is located in what's considered a strong working class area so cash tends to be more rife. When I opened 10 years it was 10% tops in card. I can look into it further too and it's not often people are spending 30 euro plus in cash, so people are carrying very little if they are using it still.



  • Registered Users, Registered Users 2 Posts: 11,573 ✭✭✭✭Jim_Hodge


    Many used by organised crime? Conspiracy theory hogwash.



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    If you just want to use cash all the time, what do you need a current account for?



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    Do you not realise the truth of the "security features" of cash? All those metallic bits that are supposed to be to deter forgery are actually used to track movements of money. Most people know that the metal detectors in airports can tell how much money is brought through them, but in the last 20 years they've become able to associate the cash to people, firstly through facial recognition, but more easily with biometric passports and other RFID devices which we all carry.

    Some people are then supposed to learn that most public buildings, using devices concealed in automatic doors, can do the same, along with various devices attached to the exterior of buildings that they don't even bother to hide since we just assume it's something to do with phones or the internet.

    Anhone who believes that going cashless will give the world elites information on us that they don't already have is a sheep. They're just sick of the costs of producing and guarding cash. They'll pass that on to us by going cashless.



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    What are you predicting in the near future? There's at least 10 providers available in Ireland if you ignore the two banks that are pulling out.



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    They probably never intended to do it, but just wanted to drum up some negative publicity to avoid gaining too many customers from Ulster Bank and KBC.



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  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    It's being celebrated on my local FB page. Seems strange for a village that doesn't, and never did, have a bank branch in it.



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    How is paying an ATM fee cheaper than using contactless which doesn't attract any fee?



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    If you're with a decent bank, they'll have SEPA Instant transfers. I can transfer between my bank accounts in seconds.



  • Registered Users, Registered Users 2 Posts: 304 ✭✭dollylama


    If I'm not mistaken, none of the Irish banks signed up to this scheme as I know BoI still charge businesses I think €25 for a "rapid" transfer. And they sit wondering why they're losing customers to the fintechs 🙄



  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    Yep, and instead of using the SEPA standard that's already in place, they're looking to get together and make their own system that no-one else will be able to use. Reminds me of the old laser cards.



  • Registered Users, Registered Users 2 Posts: 485 ✭✭guyfo


    Crime syndicates... take the tinfoil hat off ffs.

    I live in the countryside about 8km from the nearest town so, no, I cant list any within walking distance👍not sure what that has to do with anything anyway as I'm not going to drive 20km to the nearest aib if I need cash when there is a filling station 5km down the road with an atm...

    A quick Google shows about 15 atms within 10km from my house.

    How about you list me how many AIBs don't have another ATM within walking distance of them?

    I see people's points about the safety deposit boxes, but everything else was making mountains out of molehills. All the other services would have been available via the post office and 3rd party ATMs, not many towns about that have a bank and not a post office.

    All this is going to do is push my bank charges up in the medium-long term.



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  • Registered Users, Registered Users 2 Posts: 304 ✭✭dollylama


    Yep, the Irish banks are trying to setup Yippay payments app or some such nonsense except Revolut has now applied to be part of it.. the exodus of customers to Revolut being the reason they were setting up the app in the first place 😅 . Calling it already, it'll be an abject failure

    Cash or cashless aside, it sure is enjoyable watching the arrogant and ancient Irish banks having their lunch eaten by the fintechs



  • Posts: 0 [Deleted User]


    Synch or whatever its called. The elderly wont use it because according to many on here apparently elderly people can't use technology. Then younger people won't use it as Revolut has the market sewn up. So the banks are going to piss money away to develop a white elephant app and then increase their bank charges to pay for it. Laughable. They're years too late.



  • Registered Users Posts: 190 ✭✭PatrickDoherty


    It might be only 20% in your shop but I work in the cash industry and can guarantee you its a lot higher than 20% across the board, cash is used far more than the average joe thinks I can tell you that for nothing, some of the aibs on the list to be closed turn over more than 1.2 million per week in hard cash, hence the backlash.



  • Registered Users Posts: 133 ✭✭pnott


    I think this whole AIB going cashless debacle was blown well out of proportion. The way people were reacting to this you'd swear AIB announced they were shutting up shop completely. They are not. TD's and the Taoiseach getting involved is just basically electioneering. Being a champion of the people. Standing up to the banks to win more votes. That couldn't give two f's if all AIB branches went cashless. My local AIB branch was one of the 70 going cashless. The AIB here is open 10am - 4pm most days. The post office which is located less than 100 metres away is in fact open much longer each day and is located next to a large carpark. So in our case AIB customers would benefit by having extra opening hours to do their banking and it would be more accessible. Not to mention that there are at least 7 ATMs in the immediate vicinity. I know that situation doesn't apply everywhere. Some towns and villages would be more affected than others. What AIB should do is go on a case by case basis and focus on converting branches in larger towns where the impact would be less then slowly convert other branches. Much like the 22 branches that are already cashless and were forgotten about pretty quickly. While cash may still account for 30% of transactions, having an AIB branch with full cash services next door to a post office that could easily cater for those customers is crazy in my opinion.

    Post edited by pnott on


  • Registered Users, Registered Users 2 Posts: 5,843 ✭✭✭The J Stands for Jay


    If they would just sign up to SEPA Instant, a lot of the reasons for using revolut would disappear.



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