AIB to Close Branches in Tie-Up with An Post

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Bloomberg: AIB to close branches in tie-up with An Post

http://www.businesspost.ie/#!story/...+Post/id/19410615-5218-4ff6-d93d-d83df6945703


Another step in the slow death of bricks-and-mortar retail banking.
 
In a short time Bank branches will be a rarity. I visited a large city bank branch today in which i worked many years ago. Then there were usually at least 6 cashiers plus other counter staff and long queues. This morning there was one customer and one cashier. Looking back most of the business conducted then yielded little profit.
 
More on the AIB branch closures.

Extra services to be offered at An Post.

[broken link removed]

 
I bank with AIB. It is very handy to be able to do some AIB transactions at PO's, so I welcome an expansion of services. There are 3 PO's in my area, all with better opening times than AIB. Parking at my local AIB is hard and frequently the quicklodge is out of order. Its nearly worse going there than going to Superquinn on a Saturday afternoon!
 
I would like to see more detail on this contract with An Post, such as what additional security are An Post putting in place to deal with these extra services. Already most rural post offices are vulnerable to raids and imho An Post should be doing more to protect their staff and be required to put more security in place if they are taking on more banking services.
 
its good news for An Post and rural post offices. Our post offices were always under-used.
 
Hasn't An Post already tried this and failed with their loudly heralded Post Bank initiative? This ran for a short while, offered lousy service and then shut. I was one of the poor suckers who signed up and based on my early experience (which was good) had the misfortune to recommend Post Bank both online and to friends. I have never recovered from the embarrassment of recommending that embarrassment of a "bank" to anyone.

What is there that leads us to believe that this will be any different. Will Post Bank V II have something more that a cardboard cut-out for staff to man? Will Post Office staff get banking training (they didn't the last time) "I'm sorry we don't know anything about that; you'll have to ask Mary and she's out to lunch." Will Post Bank V II be able to do Post Office work (TV licences etc)? Is there any hard information other than press releases?
 
This wont be Postbank Version 2 - its an extension of the service that AIB & NIB customers have in the PO at the moment. An Post will not be offering banking services in their own right they will only be agents of AIB and NIB.
Some recent research suggests that up to 50% of bank branches will close worldwide by 2020 as more and more customers move to internet banking and electronic payments. I wonder in an Ireland context what impact the Ulster Bank debacle will have on this.
 
Brussels said:
... - its an extension of the service that AIB & NIB customers have in the PO at the moment. An Post will not be offering banking services in their own right they will only be agents of AIB and NIB.
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OK, thanks. I'm not a customer / user of either bank so I didn't know about that tie-up.
 
Agreed that PostBank and the NIB/AIB/An Post tie up are two different things.


Short run it will delay the planned Ulster Bank branch closures and add a small bump in the road in the consumer adoption of pure electronic banking.

Medium term, branch banking is still doomed as banking moves more and more online.
 

It's not just a rural problem, as we've seen from recent raids in the Dublin area. There are huge security issues here, and POs are generally much more vulnerable than banks. They are often in shared units, with far less physical security than a traditional bank.
 
And all those Bank Officials who paid their monthly subscription to the IBOA over the years.....to keep Larry and the boys in a job. There should be a lot of huffy and puffing from IBOA house over the next few days. Then back to the good life.....
 
Kimmagegirl said:
And all those Bank Officials who paid their monthly subscription to the IBOA over the years.....to keep Larry and the boys in a job. There should be a lot of huffy and puffing from IBOA house over the next few days. Then back to the good life.....
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I guess they paid their subscriptions because they believe it is important to have an active and thriving trade union in their sector. If the members have particular concerns, they will have the chance to vote in a new executive committee soon enough. The IBOA, like most unions, is a democratic institution and is accountable to its members.
 
My branch is not down for closure. I don't have a relationship with anyone in my branch and have not visited in at least 3 years, pretty much everything is online for me. If a lot of personal customers are like me, then it won't be much of an inconvenience. I can see it being inconvenient for businesses. If I am in business in Portarlington and have to drive 19km to Portlaoise to lodge takings, then I am probably going to change banks to someone who has a branch in my town of business. There are some large enough towns on the list.
 
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