Bank of Ireland to spend €60m on new ATMs and branch upgrades
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Bank of Ireland is to invest more than €60m to roll out new ATMs and upgrade 18 of its branches including six locations in Munster.
Making up the single largest investment in ATMs in the last decade, Bank of Ireland said it will start later this year installing new ATMs to all branches throughout the island of Ireland up to the end of 2027.
The new machines have greater cash processing capacity and will cut energy use by more than half. The ATMs can be used for both withdrawals and lodgements and the majority will ‘recycle’ cash that has been deposited by customers.
Work will also take place in 2024 and 2025 refurbishing 18 branches across the country including locations in Killarney, Scariff, Co Waterford and Bandon and Douglas in Cork.
Earlier this month, the government said it would legislate to protect the right of people to use cash when paying for necessities. The use of cash for payments and withdrawals from ATMs both fell during the pandemic and the use of digital payments soared.
However, efforts remain across Ireland the Europe to protect the use of cash for services. in 2022, AIB reversed plans to remove cash services from 70 of its 170 branches due to public pressure.
"Like any other company, being profitable allows us to improve our business," Susan Russell, chief executive officer of the bank's retail unit said.
"Given the large number of customers which we serve, major re-investment is required every year. I’m really happy that this latest investment will see all customers across all counties benefit with the most modern and efficient ATMs, whilst also supporting our ESG ambitions through energy reduction.
In addition to the €60m investment, Bank of Ireland said it was investing €36m to upgrade the Bank’s iconic College Green buildings in Dublin with work to begin this year. It is the largest single investment in College Green in more than 200 years and will include upgrades and restoration work.