AIB has abandoned plans to go cashless in 70 branches after "public unease".
The decision was announced earlier this week but the company has confirmed their u-turn this afternoon.
A spokesperson said: "In recent years there has been a dramatic increase in the use of digital banking services and a decline in branch visits and cash usage. In AIB’s case, there are 2.9 million daily digital interactions compared with 35,000 customer branch visits. There has been a 36% decline in cash withdrawals from ATMs and a 50% fall in cheque usage over the past five years. AIB has also seen a fall of almost 50% in branch over-the-counter teller transactions, while mobile and online payments have increased by 85% in that same timeframe.
"It was in the context of this evolving banking environment and the opportunity to enhance its long- standing relationship with An Post that AIB took the decision to remove cash services from 70 of its branches. However, recognising the customer and public unease that this has caused, AIB has decided not to proceed with the proposed changes to its bank services.
"The bank continues to retain its 170-strong branch network in its entirety and will also continue to offer banking services through its relationship with at An Post at its 920 post offices nationwide."
Taoiseach Micheál Martin has welcomed the climb-down by AIB, it follows a backlash to the move from Government Ministers, business groups, consumers, farming and rural organisations.
Speaking in Singapore, Mr Martin said: “I welcome the decision by AIB.
“I believe it’s the right decision and I also welcome the fact that AIB will engage with communities across the country in relation to future plans.”
Rural TDs Michael Collins, Danny Healy-Rae and Mattie McGrath went to AIB headquarters on Friday demanding a meeting with senior management over the move to make 70 branches cashless.
Earlier on Friday, the Central Bank of Ireland said that vulnerable customers should have full access to basic banking services.
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