Brinks cancels bank contract amid robbery fears
A security firm has terminated its contract to deliver cash to off-site Bank of Ireland ATMs following a spate of robberies, it was confirmed today.
A spokeswoman for Bank of Ireland said a dispute had arisen between the financial institution and Brink’s Allied over the transport of cash after a series of hijackings.
“On 19 May last, Bank of Ireland received a letter from Brinks giving three months and three days notice of termination of the ATM service,” a spokeswoman for the bank said.
“With effect from 20 August, 2005, Bank of Ireland will not be using Brinks to deliver cash to the 85 affected ATMs.”
Security firm, Chubb Ireland, who already deliver cash to much of the Bank’s off-site network, will service the 85 affected ATMs – which account for 10% of the Bank’s total ATM network – on an interim basis.
Over 50 of the affected ATMs are based in and around Dublin, with 10 in Waterford and 20 in Cork.
In April, Brinks Allied halted its service to the off-site ATMs citing concerns following the recent series of hijackings of cash-in-transit vans.
It is believed the firm was looking for the bank to accept increased liability for losses from robberies during deliveries.
Bank of Ireland stated that it had applied to the courts for an order compelling Brinks to resume deliveries to the off-site ATMs.
“On Brinks’ undertaking to resume normal service levels, the High Court permitted Brinks to reduce the volume of cash carried in its vans. Unfortunately, Brinks has not yet been in a position to resume normal service and as a result, many of the 85 ATMs continue to run out of cash,” the spokeswoman said.
In March of this year, around €2.4m was stolen from a Brinks Allied cash transit van after it was hijacked during an unscheduled coffee stop in Dublin’s Artane.
