NIB retrenchment

Received letters today from National Irish Bank regarding removal of services from local branches which was euphemistically heralded as “A new way of serving you”.
It appears there are no cash services left in the majority of the remaining few branches which survived.
You can’t withdraw or lodge cash.
When I phoned they said the ATM may be removed from the Branch and I await confirmation of same.
No foreign exchange cash services.
They’re a bit like the Queen of England; carry no cash at all.

My branch, Blanchardstown, is one of the bigger longest established branches so I would have thought cash services would have been retained.

As a consumer rather than business customer I’ll get by.
Business Customers would appear to have no option but to move back to the Big Two Zombies now.
The removal of cash handling from the local branches makes it near impossible for a business customer to bank with NIB.

When I phoned they hinted that they were shortly to announce a tie up with an as yet un-named third party for retail Banking.
As An Post PostBank is shutting down I don’t see how this service will succeed.

This was announced nearly a year ago…

No, the rationalisation of the branch network was announced, the horrible consequences of same are only becoming obvious now.
I and I’m sure many others banking with the larger branches expected minimal disruption and was assured of same by bank staff.

My current account is with them too.

Ultimately, cash free banking is the way of the future. Cashless transations are saoring in the UK at the moment.

However, I always thought banks would be the last to go cash free.

There are plenty of alternatives to switch to if you are uphappy with the NIB decision. Walk.

No. I’ve got free banking with them so I’m not leaving.

Unfortunately there really aren’t that many options other than Zombie AIB and Zombie BOI which is the point I was trying to make.
State protection haas left the prudent banks licking their wounds rather than seizing the opportunity to grab market share.

Once I can keep my Tracker mortgage (ECB + .25%) rate I’ll stay BD

There is the non-NAMA PTSB for current accounts.

For savings accounts there are plenty of non-state banks like Nationwide UK and Investec.

Thats because everyone is living on credit.

irishtimes.com/newspaper/bre … ing23.html

wonder how much that’ll cost to lodge and withdraw.

g

There are only two business banks left and possibly three for retail - boi, aib …you can add permanent for retail.

The remaining banks have their pack up and go home strategy at the ready. There is no point in remaining with these other banks as they only want the most profitable and least risky business. Build a credit history with them and they are still most likely to tell you they do not want any of non profitable / any risk business.

If you turn around later and try to go one of the three banks above your chances of getting that loan or mortgage even when things recover will be slim and /or you will pay a an massive price for what you get.

Ulster Bank is still there and I think they’ll truly emerge as a third force in Irish banking to challenge and maybe surpass the big two. It cut it’s costs early in the game, and appears to be aggressively seeking new business. The big two still have to implement all reforms that europe will impose on them and carry out significant downsizing to live within their new means.

As an FYI I have no connection with Ulster Bank. I don’t even have a bank account with them.

Ulster Bank is still there and I think they’ll truly emerge as a third force in Irish banking to challenge and maybe surpass the big two. It cut it’s costs early in the game, and appears to be aggressively seeking new business. The big two still have to implement all reforms that europe will impose on them and carry out significant downsizing to live within their new means.

As an FYI I have no connection with Ulster Bank. I don’t even have a bank account with them.

Heard rcently that they are withdrawing even from more lucrative parts of the business market. I’d say we are going to see a radically slimmed down UB that will have to go to London for any approvals over 4p. RBS are not going to fund a loan book in Ireland when they are under pressure from their owner to loan in UK.

Bad for NIB employees, but good for keeping open the remaining rural post offices. The farmer is the middle of no where might have mobile broadband and access to a decent online banking facility too. God AIB/BOI are bad at that setting up a new account to transfer money to, it was like having a colonoscopy on public health. A long wait and then very painful at the end.

This is good news but why don’t An Post send out information about this to all its Postbank customers.
thepropertypin.com/viewtopic.php?f=19&t=28599&hilit=postbank
It would make sense if An Post could provide someway of seemlessly transferring accounts from Postbank to National Irish Banks - similar to how the FDIC closes one bank in the US and transfers its customers to the acquiring bank over the space of a weekend.
fdic.gov/bank/individual/failed/banklist.html
Instead every Postbank customer has to move to another bank between September (end day for Postbank) and next January (start day for National Irish Bank) !
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