Banks refuse to pay full cost of armed cash escorts

BANKS will pay an extra €2 million towards the cost of garda and army escorts for moving cash next year, but the taxpayer continues to foot the bulk of the bill.

Despite the financial institutions making billion euro profits, the banks are still refusing to meet the full costs of transporting cash to branches around the country.

Just two days' profits from the two main banks would cover the entire cost of the security escorts.