Bank of Ireland plan aims to reduce cash held in branches03/08/2012 - 11:28:54
Bank of Ireland has today confirmed that it is piloting a new initiative aimed at reducing the amount of cash held in branches.
The bank says it has told some business customers that it will no longer accept cash lodgements above a certain threshold.
Instead, they want the business owners, many of whom have small or medium sized operations, to hire security companies to collect the money instead.
Bank of Ireland said that the pilot initiative will enhance security for both its customers and staff, and will affect less than 1% of its business customers.
The pilot scheme is currently being operated in the north-east of the country and Cork.
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