N.I.B Cashless Banking

P

packard

Guest
Just heard on the news this morning that NIB are to not deal with cash anymore in their banks. No over the counter cash transactions or foreign currency exchange. What the hell is this about? This is making things very difficult for people when we are allready stressed out enough with the banks. I know in the small town i live in that they are closing the branch, so people will have to travel an extra 45 minutes to get to the nearest branch and then how do they put their cash into their accounts when the bank wont take cash. Silly! What do you all think?
 
This is the standard practice in some of their Scandanavian banks(as they are owned by Danske Bank) and some of their new branches they opened over the last 2 years are already cashless. Reality is that processing cash costs is expensive with higher insurance costs for the banks, as well as security operational costs and it's a business they've decided they don't want or need to be in.

I think they've accepted they'll loose customers over this, but if the cost savings outweigh that, then it may make sense to them

There is also a Scandanevian view that we are too paper orientated in Ireland and that we would be better moving to electronic banking. This seems to be their step towards it
 
Mpsox said:
This is the standard practice in some of their Scandanavian banks(as they are owned by Danske Bank) and some of their new branches they opened over the last 2 years are already cashless. Reality is that processing cash costs is expensive with higher insurance costs for the banks, as well as security operational costs and it's a business they've decided they don't want or need to be in.

I think they've accepted they'll loose customers over this, but if the cost savings outweigh that, then it may make sense to them

There is also a Scandanevian view that we are too paper orientated in Ireland and that we would be better moving to electronic banking. This seems to be their step towards it
Click to expand...

The difference is that in most cashless branches in scandinavia I still can lodge cash to my account in real time by using a lodgement machine that take both my coins and my paper bills (for no fee).

Also electronic banking is way more advanced than in ireland, not to mention that making a transfer between banks does not take 3 days.
 
packard said:
Just heard on the news this morning that NIB are to not deal with cash anymore in their banks. No over the counter cash transactions or foreign currency exchange. What the hell is this about? This is making things very difficult for people when we are allready stressed out enough with the banks. I know in the small town i live in that they are closing the branch, so people will have to travel an extra 45 minutes to get to the nearest branch and then how do they put their cash into their accounts when the bank wont take cash. Silly! What do you all think?
Click to expand...

First step in their ultimate withdrawal from Ireland....?
 
Hi,

If some of their branches are becomming cashless then they will introduce Cash Lodgement service at their ATM in the branch........That happened in Holland with ABN AMRO BANK....Most of the times the ATM's are out of order....
 
One positive thing about this is at least their staff won't have to worry about being kidnapped
 
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