The outrageous announcement by Bank of Ireland a bailed-out pillar bank to restrict face to face cash withdrawals to amounts over €700 is unacceptable. People should boycott Bank of Ireland unless they back down and drop this policy. This change of practice will present huge difficulties for many people but most especially the elderly. It will force people to make larger cash withdrawals than are necessary. It will directly lead to an increase in burglaries as burglars will be motivated by the prospect of cash in people’s homes. On top of the recent increase in charges for ATM withdrawals the bank is making clear its disdain for ordinary people with small accounts.
Bank of Ireland received billions of euro from Irish tax payers in 2009 to stop it from failing or going under. It owes its very existence to the people of Ireland who bailed it out with their hard earned taxes. Bank of Ireland’s announcement smacks of the type of Bankers arrogance that led to Ireland’s economic crash in the first place. It highlights how totally out of touch and completely ungrateful the bank is for the sacrifices made by Irish tax payers to secure the banks recovery and future. This latest announcement demonstrates how since taking office the government has utterly failed to put any manners on bankers. The Minister for Finances expression of surprise at the Banks actions is an alarmingly inappropriate response. In light of the Government’s failure to assert itself on our behalf with the bank we each of us can take action ourselves. I have emailed Bank of Ireland and asked them to reverse their decision. I advised them if they do not reverse their policy decision I will be closing my account with them. You can do the same by clicking here.