Bank offers ATM overdrafts

BANK of IRELAND has pre-approved 60% of its customers for an immediate overdraft of €700 payable from its ATM network.

The bank said yesterday that account-holders who find themselves without sufficient funds at a Bank of Ireland ATM and who have been pre-approved will be offered a "cushion" of €700 on the spot.

Bank of Ireland claimed that it is the first time any bank in Ireland has offered an overdraft facility through its ATM network. David Slattery, marketing manager at Bank of Ireland Personal Loans, said the overdraft is an ideal way to manage day-to-day cash-flow, as it provides a temporary cushion for customers who find themselves without enough money in their account and an immediate need for cash.