2022 will see the face of banking in Ireland change yet again. With another 90 bank branches set to close this year Ireland will lose another tranche of its high street banks effecting both personal and business customers.
Ulster Bank are ‘encouraging customers to get ready’ for changes coming as part of its withdrawal from the Irish market. Retailers in rural communities are hit the hardest. In many cases, owners and senior staff across the country will have a longer commute to the nearest bank branch to lodge cash, cheques or to collect coin and note floats. Companies are spending more time than ever cash handling and travelling to the bank instead of time on the shop floor where their expertise is most needed.
Risk to the personal safety of those employees is also a major concern. Insurance cover must be adjusted to ensure the relevant level of cover is in place whilst carrying out bank walks.
In what feels like yet another blow to business owners, bank processing fees have also reached a record high in Ireland with cash processing fees of up to 0.80c per €100 lodged.
If upcoming bank closures will affect your business or if you are struggling with time and resources or are concerned about security and the high costs of lodging and withdrawing money please feel free to reach out to Brink’s.
Hardware Association Ireland have an affinity deal with Brinks who can offer your business a secure, cost effective solution. In addition Brink’s have a number of solutions that offer next day credit to your bank account ensuring deposits are in your account each day to meet the day to day needs of your business.
Feel free to reach out to discuss your options with Denise at Denise.McCarthy@Brinks.com or call 087 7614656 or 0818 111330.
