Bank to stop handling cash after series of raids

A BANK is to stop handling cash at one of its branches in Dublin after a series of raids on the outlet.

In August, the parents and family of a man who worked at the National Irish Bank in Killester were held hostage in their home in nearby Baldoyle.

The man was forced to withdraw hundreds of thousands of euro to secure the release of his family.

Gardaí who are investigating the robbery believe it may have been carried out by a gang that targeted the same bank branch at least once last year.

A garda spokesperson said yesterday the investigation was ongoing but that no arrests had been made.

The bank said their decision followed a security review after the ‘tiger’ kidnapping incident on August 28 but also took into account previous raids on the branch.

From December 1 next the branch will no longer handle cash transactions including cash withdrawals, cash lodgments and night-safe lodgments.

The branch will continue to process transactions that do not involve cash and will provide all other personal, business and investment services. The ATM will also be retained.

Customers, particularly those who use the branch for cash transactions, will be contacted directly in the coming weeks.

NIB’s chief executive, Andrew Healy, stressed yesterday that the safety and security of their staff and customers was their number one priority.

“The decision taken ensures the continuation of the bank’s presence on the Howth Road while at the same time addressing the risk of further attacks on our branch, its staff and customers,” he said.

He pointed out that since the security review various measures had already been introduced, including a reduction in cash levels held across all branches.

NIB, part of a major Danish bank group, has 59 branches throughout Ireland and plans to open an additional 15 over the next three years.

Neither the AIB nor the Bank of Ireland have cashless branches.

Irish Bank Federation spokesman Felix O’Regan said Ireland’s dependency on cash was one of the highest in Europe.

“We have to find ways of moving our economy away from such a high level of cash dependency,” he said.

He said attempts by the banking sector to persuade people to use debit and credit cards instead of carrying cash was not helped by the continued Government levy on the cards.