# NIB To Close Entire Branch Network, Go Online/Call-center Only



## Lightning (28 Jun 2012)

*NIB to close 20 branches with 100 redundancies*

http://www.rte.ie/news/2012/0628/ni...tml?utm_source=twitterfeed&utm_medium=twitter



> The bank says that the traditional branch model is no longer the cornerstone of personal banking and the closures will go some way to its coping with the changed banking environment in Ireland, and shifts in customer behaviour.
> 
> It says it will also create an "efficient business model" to support the bank's future strategy.



NIB currently have 25 to 27 branches, so 20 would not seem like all of the branches. However, some reports, on this breaking news, are saying that NIB are closing their entire branch network.

Branch banking has had its day and is clearly on the decline as it goes more and more online only.


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## Lightning (28 Jun 2012)

It is the entire branch network of 27 branches that are closing ...

www.nationalirishbank.ie/en-ie/Abou...s/2012/Pages/nib-business-reorganisation.aspx



> *From November, National Irish Bank will close its branch network (27 branches)* and serve customers through a new Personal Banking Centre.   As well as day-to-day banking, the large team of qualified financial advisors in the centre will be able to facilitate applications for any of our products over the ‘phone.  The branch closures will be completed by mid-November, at which time National Irish Bank will convert its nine locations to Personal Banking Units.  Customers can meet financial advisors face-to-face in locations in Waterford, Athlone, Cork, Limerick, Letterkenny and across Dublin in the IFSC, Tallaght, Swords and Stillorgan.  It is anticipated that there will be 100 voluntary-led redundancies as a result of this reorganisation.





> Mr. Nielsen continued: “*More and more customers want to conduct their banking business by telephone, Smartphone or over the internet as they do for other day-to-day lifestyle needs.*  Anticipating future banking trends, our new model offers customers a service based on a combination of superior technology and advisory services available on the customer’s terms, coupled with the market-leading resources and capabilities of Danske Bank Group.”
> Following the launch of its award-winning mobile banking app late last year, the Bank will launch a similar app for tablets this year.  In the coming months, the internationally-recognised Visa Debit card will be introduced to replace the existing Laser card service.  In addition, National Irish Bank will rebrand to Danske Bank in November of this year.





> *In adopting this new business model, National Irish Bank will have moved away from an unsustainable and transaction-based banking business model, to a more profitable, on-line and direct channel-led model* for personal and small business customers, reflecting changed customer patterns.


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## Alex (28 Jun 2012)




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## serotoninsid (28 Jun 2012)

What will this mean for their loan book?  Will they go the way of Bank of Scotland - and try and run it down asap?  Any chance they would be more inclined to deal now on trackers - in an effort to clear the books?


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## mercman (28 Jun 2012)

I'd say that they are the first in the Banks to start down sizing.


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## Lightning (28 Jun 2012)

serotoninsid said:


> What will this mean for their loan book?  Will they go the way of Bank of Scotland - and try and run it down asap?  Any chance they would be more inclined to deal now on trackers - in an effort to clear the books?



No effect on loans. Danske/NIB are not leaving Ireland, yet, like Lloyd's did.


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## Lightning (28 Jun 2012)

mercman said:


> I'd say that they are the first in the Banks to start down sizing.



Yeah, definitely more to come. 

This is the 4th time/round of NIB branch closures. NIB are a country mile ahead of what AIB and BoI are about to do. PTSB have done round of branch closures with another round to come. Ulster/RBS have shut their First Active branches. 

End game is surely online banking with no traditional branch network with perhaps a small number of banking product shops.


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## Palerider (28 Jun 2012)

Does anybody else wonder about the safety of online only services when let's face it the system can be shut down with the flick of a switch, maybe being an Ulster Bank customer currently suffering loss of service make me more paranoid, are we creating a monster for ourselves that ultimately will screw all of us over....I find that model most unappealing, not for me...ever !


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## Marion (28 Jun 2012)

I  worried about online banking as a customer of Northern Rock.  

I had lodged a significant (borrowed) sum at a really good deposit rate of interest to pay my builder. 

I couldn't access my online a/c for days - my password would not work. I watched the queues growing outside the branches on TV. 

I would not put myself through that type of stress again. After that debacle I want a bricks and mortar entity to deal with. Somewhere reasonably local.

A good rate of interest is one thing. Peace of mind is another. I prefer the latter now.

Marion


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## kimmage (28 Jun 2012)

The customer has not benefited from the move to online only banking by National Irish Bank.  They recently introduced fees for operating the most basic account.  Their pricing is not competitive compared to other Irish banks operating online and in-branch.  Some offering 400+ branches.

I would be concerned for online only banking.  As it is for NIB customers, the Post Office offer a limited service and in some offices don't offer cheque lodgment services.

Since NIB went cashless their branch staff were redundant - they don't even answer the eBanking mailbox.  Thats managed by their Customer Direct centre as are branch phone numbers. 

The branch closure wont be any great loss as the services offered were negligible since they stropped processing cash or cheque transactions.


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## serotoninsid (29 Jun 2012)

CiaranT said:


> No effect on loans. Danske/NIB are not leaving Ireland, *yet*, like Lloyd's did.


Is it possible this is part of a phased withdrawal?


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## Lightning (29 Jun 2012)

serotoninsid said:


> Is it possible this is part of a phased withdrawal?



It's possible. Danske have said multiple times that they are committed to Ireland but yet they have been gradually reducing NIB services.


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## ontour (29 Jun 2012)

It may be part of an exit strategy but it is equally likely that they are just more ruthless in focusing on their profitable customers and products.  Branches are really expensive to run, during the boom time this is hidden by all the high value products such as mortgages that they are selling.

The changes mean that they no longer provide the banking service that some people need but personally I would be more worried about my bank if it has made little or no change to the way that it operates after 5 years of a crisis.


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## Harry31 (29 Jun 2012)

One of the main reasons that we've had the banks running amok, is because it is no longer community based.  We used to be able to rely on our local bank to advise, suggest & protect our money - but this went out the window when the whole basis of banks was sales, sales, sales & bonuses.  The Ulster Bank debacle shows that this way of working does not work.


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## ontour (29 Jun 2012)

Harry31 said:


> One of the main reasons that we've had the banks running amok, is because it is no longer community based.



Plenty of community based credit unions 'ran amok'.  A bigger reason was the risk/reward structure that existed (exists?)  without the required governance.


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## Harry31 (29 Jun 2012)

Agreed ontour - the light touch regulation just didn't work & the central banks - not just in Ireland - seemed powerless to act.


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## homeboy (29 Jun 2012)

As a long time customer of NIB can I say that I DON'T WANT to do on-line or telephone banking.

I want to be able to get my money when I want it (currently only available via ATM), I want to, very occasionally, go into a branch to lodge cheques/cash, sort out business etc.

Cuts in service only exist to make profits, not to serve the customer.


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## Willy Fogg (29 Jun 2012)

homeboy said:


> As a long time customer of NIB can I say that I DON'T WANT to do on-line or telephone banking.
> 
> I want to be able to get my money when I want it (currently only available via ATM), I want to, very occasionally, go into a branch to lodge cheques/cash, sort out business etc.
> 
> Cuts in service only exist to make profits, not to serve the customer.



I thought they stopped handling cash and cheques in branch already..


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## Lightning (29 Jun 2012)

They did, NIB went cash & cheque free some time ago.


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## ardmacha (29 Jun 2012)

> They did, NIB went cash & cheque free some time ago.



Which made it all the more odd that in my local branch there are all manners of door buzzers and cameras just to get in. Not a customer friendly experience.


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## Molly Bloom (3 Jul 2012)

I'm with homeboy also ....

I don't want to do on-line banking.  I don't trust on-line banking.  

Not being able to lodge a cheque in a branch (yes, there are still some of us cave-dwellers out here who 'do' cheques) is a major inconvenience.  They do still let me send a cheque for my credit card payment each month, but that's ONLY because it's not handled at a branch.

Whoever heard of a cashless bank .....?

Rant over, Molly


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## potnoodler (3 Jul 2012)

banking wise, I dont really see why many customers would want to be with them anymore, still with them only because of mortgage and just playing wait and see what happens with Ulster etc, seems to me they are fast tracking the moves to shed customers in a bid to do something????


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## Lightning (14 Sep 2012)

More cuts at NIB ...

*NIB Cutting Head Office Functions*

[broken link removed].



> National Irish Bank is to review its head office functions after eliminating 100 jobs this year as it closes most of its offices in Ireland, according to a report by a facilitator of talks between the lender and the bank union.


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## serotoninsid (14 Sep 2012)

CiaranT said:


> More cuts at NIB ...


Death by 1000 cuts?


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## Lightning (15 Sep 2012)

serotoninsid said:


> Death by 1000 cuts?



Thus far, NIB/Danske have:
1) Cut cash banking. 
2) Cut cheques.
3) Done 3 rounds of branch closures and then
4) Shut their entire branch network. 
5) Shut their entire ATM network. 
6) Removed local branding. (in progress) 
7) Cut free day-to-day banking products. 
8) Cut interest rates on non online-only savings products. 
9) Stopped mortgage lending (or so many people say).
10) According to today's Irish Times, Danske are going to [broken link removed]

However, Danske are constantly advertising their SME offering, they will have 1 client servicing non-cash branch and several product-sale, for pensions etc, appointment-only offices. 

Hence, Danske may have a SME banking future and maybe a pension and insurance sales future. However, it is very conceivable, in the medium term, that Danske may end their retail current account products here.


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## Protocol (16 Sep 2012)

Yet every PR statement stresses their "commitment to Ireland"!!!!!


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## Protocol (16 Sep 2012)

CiaranT said:


> However, it is very conceivable, in the medium term, that Danske may end their retail current account products here.



How would that leave those of us with cheap NIB tracker mortgages?


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## Lightning (16 Sep 2012)

No change to T&C.

The mortgages may be sold to a new third party.


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## Lightning (16 Sep 2012)

Indo are reporting that 200 jobs could go at Danske HQ.



Protocol said:


> Yet every PR statement stresses their "commitment to Ireland"!!!!!



Danske are fully committed to winding down their operation !!


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## sustanon (16 Sep 2012)

I have my account at College Green, and received the notice this week that the branch will be closing. I live in the US but will be back in Ireland in a few weeks. What do I need to close my account?


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## Lightning (16 Sep 2012)

sustanon said:


> I have my account at College Green, and received the notice this week that the branch will be closing. I live in the US but will be back in Ireland in a few weeks. What do I need to close my account?



Identification, passport and letter from the bank should be sufficient.


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## homeboy (25 Sep 2012)

sustanon said:


> I have my account at College Green, and received the notice this week that the branch will be closing. I live in the US but will be back in Ireland in a few weeks. What do I need to close my account?


After 20+ years I closed my NIB last week and have no regrets.

Just bring in your passport, account details and any unused cheques. They charged me E2.50 for a draft - it was the only way I could get the balance of money left in my account. I was not impressed with that.

And it's sad to see an outstanding banking hall in use probably for more than a hundred years come to it's end. We'll probably end up with a Penny's or SPAR in that building.


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## AnAthas (26 Sep 2012)

I have a tracker with nib taken out in 2007. Part of the terms were that I had to open a current account with them a well to serve the loan account. It had to be my main current account with my pay going into it. The catch was that they charge 18.75 for every 'quarter' - and there are 5 of these quarters a year! now they've closed their branches and withdrawn other services as well, do I have any rights to demand that these exhorbitant  charges are removed?


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## Laramie (26 Sep 2012)

I only ever dealt with the Stillorgan branch. There was one staff member there who wouldn't do anything for you. She used to slouch around the office carrying a bottle of water. At one interview she was drinking from the bottle in front of me. You would often see her standing in the doorway of the Xtra Vision outlet having her cigarette. I eventually closed my account due to the awful service. I feel sorry though for the staff who left other financial institutions to join them when they were on their expansion drive.


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## Lightning (29 Sep 2012)

Yet more cut backs at NIB, this does not even include the HQ lay-offs ...

*Indo: NIB Increase Branch Lay-offs by 30%*

http://www.independent.ie/national-news/national-irish-bank-to-lay-off-130-workers-3242844.html



> SOME 130 jobs are to go at National Irish Bank -- more redundancies then indicated at first.
> 
> The layoffs come as the lender continues to cut back its Irish business.
> 
> Some 130 people are now expected to leave the firm, compared with the 100 the bank had originally said would be let go.


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## serotoninsid (29 Sep 2012)

AnAthas said:


> I have a tracker with nib taken out in 2007. Part of the terms were that I had to open a current account with them a well to serve the loan account. It had to be my main current account with my pay going into it. The catch was that they charge 18.75 for every 'quarter' - and there are 5 of these quarters a year! now they've closed their branches and withdrawn other services as well, do I have any rights to demand that these exhorbitant  charges are removed?


Are you sure that was a condition?  For most, the condition was that they had to have 'a' NIB current account so service the mortgage. However, since they made changes to current accounts - it's possible to use a fee free current acccount for this purpose - so long as you don't use it otherwise.  There's a key thread on AAM on that - run a search.


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