AIB proposed making 70 branches cashless, then withdrew it: 'We got it wrong'

AIB announced a proposal to make 70 of its 170 branches cashless. On 29 July its chief executive, Colin Hunt, went on RTÉ radio's Morning Ireland and said 'We got it wrong.' The bank had developed the proposal itself, he said, and made a mistake: customers had contacted AIB by email, mail, telephone and in branches to say they did not want it.

Hunt said AIB had 'extensive engagement' with An Post before the announcement and followed the formal arrangements for engaging the Department of Finance. Minister of State Sean Fleming had said the department was 'blindsided' by the proposals. Hunt replied that the bank was publicly listed and that communications with shareholders were governed by rules, adding he was not trying to spread blame or dodge responsibility.

He said the plan was meant to keep branches open and to maintain a strong physical presence and AIB staff in communities, and that it was now withdrawn and 'not going to be revisited'. Branch services would continue as today, and he guaranteed all 170 branches would remain open for as long as he was chief executive.

AIB developed the cashless-branch plan on its own, as a way to future-proof the network, without testing it with customers first, Hunt said.

Customers made clear by email, mail, phone and in branches that they did not want it.

The government said it had been blindsided, which Hunt did not accept as a failure of the formal process.

Hunt's own lesson was that AIB 'moved far too far, far too fast' and would not run ahead of its customers again.

Changes to a service people rely on can't outrun customers or the government. Consult them first, not just partners like An Post.

The proposal was withdrawn and AIB's branches kept cash services. Hunt told RTÉ that banking would look different by 2030, but that AIB would not run ahead of customers again. The Irish Times article does not report any financial cost.