Michael Noonan criticises Bank of Ireland's 'unnecessary' restrictions
The Finance Minister Michael Noonan has criticised Bank of Ireland's plans to restrict withdrawals and lodgements in its branches.
The bank says it will make sure that vulnerable customers are assisted in using services in branches.
The bank is planning to put a minimum withdrawal of €700, and minimum lodgements of €3,000, for customers at the counter.
The bank says the move is to encourage more customers to use ATM's or electronic banking.
However, this evening Mr Noonan has described the plans as "surprising and unnecessary".
He said the decision is a commercial one, but he wants the bank to clarify how it will assist vulnerable customers in the move to the new system.
The bank has confirmed that vulnerable and elderly customers who were not comfortable with self-service or technology options would be assisted by branch staff.
