Banks to pay 90% garda escort costs

BANKS are to pay 90% of the total cost of garda cash escorts under a new agreement to be signed in the coming weeks.

The Department of Justice is also, in conjunction with the Irish Payments Services Organisation (IPSO), examining ways of reducing the high reliance on cash in Ireland which, in turn, would curtail opportunities for robberies.

The new agreement on the financing of garda escorts followed discussions between the Department of Justice and the Irish Bankers Federation (IBF).