Cashless banking starts in Ireland

[jersey devl]

The Irish Times - Tuesday, December 22, 2009

National Irish moves to cashless banking


PAUL CULLEN Consumer Affairs Correspondent

IT MIGHT sound like a contradiction in terms, but for the first time one of the main Irish consumer banks is moving to cashless banking in all its branches.

National Irish Bank has written to thousands of its customers this month informing them of a “new style of banking” in which branches will not handle over-the-counter cash transactions.

The letter says branches will no longer handle cash withdrawals and lodgements, night safe lodgements and foreign currency cash. Branches will continue to lodge cheques, drafts and postal orders and issue drafts.
Customers are advised to obtain cash from “ATMs nationwide” or to seek “cash-back” on their debit cards.

A spokesman confirmed that cashless banking was being introduced across the entire NIB branch network over the next 18 months, and had already been introduced successfully in a number of branches. He said the feedback from customers was positive with few complaints.

“These branches provide better security for staff and allow us to spend more time, in a better setting, with our customers . . . Customers like them, as our staff have more time to discuss customers’ overall needs.”
However, NIB customer Frank Barry from Malahide described the change as hilarious and ridiculous: “A bank refusing to accept cash . . . I thought that’s what they are for?”

Mr Barry contacted The Irish Times after his wife Catherine Gralton received two letters informing her that the local branch would stop handling cash from next February.

“If I did have a cash lodgement, I would have to go to another bank, buy a bank draft and then go to NIB to lodge it,” he said.

An NIB spokesman said the changes followed the model used by NIB’s parent, Danish-owned Danske Bank. Cashless banking is far more common in Scandinavia. while Irish dependence on cash is among the highest in Europe.

The spokesman said it recognised that some business customers may need to lodge and withdraw cash and it would offer these a number of options.
However, he declined to say what these options were, citing security reasons.

NIB announced earlier this month it was cutting 150 jobs and closing 25 of the bank’s 58 branches because of the recession and changes in the banking sector.

ACC Bank, which specialises in business lending, has also moved to cashless operations.

The Irish Banking Federation said it was not aware of any other main banks introducing cashless banking at this stage, though a spokesman added that “they would all love to”.

Handling cash is more expensive than the non-cash alternatives such as internet banking or debit and credit cards.

Cash also poses greater security threats for the banks, whereas consumers bear many of the risks associated with non-cash transactions.
NIB in particular has suffered a number of high-profile robberies and one of the branches it has already converted to cashless banking, on Dublin’s Howth Road, was the scene of a so-called tiger robbery in 2006.

http://www.irishtimes.com/newspaper/...261108475.html


It will make its way here...get 'em while they're hot!

 

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[obediah]

Re: Casless banking starts in Ireland

Signs of the times. One thing is for sure Gov will be able to track and tax everything we do in such a cashless system as well as things we have yet to imagine and consider; Orwells 1984 is coming about 30 years after.

 

[Kantuckkeean]

That's pathetic. I think that National %&@*ty Bank, er, I mean National City Bank will be the first to do that here in the States. I've noticed that they've already turned some of their banks into "ATM banking" or "ATM Only".

I greatly prefer to do cash transactions whenever possible. There are numerous reasons. One is that cash is legal tender for all debts, public and private, and you don't have to worry about the machines being down. Also, there are fewer receipts to deal with when it comes time to balance the books, so it lessens the chance of errors on my part and the bank's. I was once with a friend who tried to buy some cigars using a debit card for a post-Thanksgiving meal treat and was turned down because the retailer said that the amount of the purchase was to small. Having no cash, we were turned away and had to get them elsewhere.

I would immediately close my accounts with that bank and go to another.

Happy holidays,
Kantuck

 

[alexfm123]

I agree with Kantuckkeean,

I always use cash. Cashless banking is just having someone watching everything you do, whether its buying a the paper and a tank of gas, or swinging by the bookstore and buying a dirty comic.

But really, the banks dont like cash because they dont make any money from it. They cant charge interest on the five yoyu spent for coffee, but if you had swiped your Mastercard, you can be guranteed you'll see that on your bill, with interest. The same goes for debit cards.

Just my 2 cents,

Merry Christmas,

Alex.

 

[enamel7]

And don't forget, in times like these when the the economy could hit the bottom of the barrel, no run on the banks. Just pull the plugs on the Atms.

 

[timbobwey]

I think it's all going to wind up going downhill. Eventually all banks are going to use this system. To track everyone's purchases, and to collect they're interest. Without cash, there are soooo many things that people won't be able to do. How are people going to be able to do personal transactions?? What happens if I wanted to buy a car from a freind?? How would I do it once these banks take over?

 

[obediah]

Kinda figure we are getting very close to biometric ID and system of exchange wherethere is NO physical currency at all; instead of the debit/credit card slot at the registers there will be scanners to run your hand under.

 

[drpineapple]

It is a matter of when not if. The banks, corporations, and government are bigger and set the rules for their interests not ours. Yes there are exceptions. At some point technology will make it fast and cheaper so the CEO of the bank will say lets do it. It is cheaper to move electrons than base metal coins and paper. If they are doing it in Ireland and Scandanavia then why not here? One day privacy, free choice and hard money will become obselete. Maybe a more recent example is Ebay with Paypal. In the begining you could pay a seller a lot of ways, now I think if you are a seller the only way to be able to list an auction is if the buyer pays through paypal because it is safe. One day someone will say to a future generation I don't accept Federal Reserve Notes, they aren't safe. There won't be any choice, because you won't be able to function in society. The only thing is to unplug yourself from the "Matrix" and live off of the grid.

 

[RON (PA)]

When it comes to the states, I will fight it with every breath I have..This is just another way that the Obama regime can watch you...This is the first step that we are taking towards losing our freedoms and ending up like Russia was 50 years ago.

Switch banks, too.

 

[bazinga]

I don't know how old the rest of you are. But people my age (in their 20s) rarely seem to use cash at all. The only reason I keep any on hand is for an emergency or if I am at a yard sale or flea market and need to buy something.

Credits cards are secure, if there is ever a problem with your transaction you can do a charge back, etc. You earn rewards on your purchases which you do not with cash. It is easier to keep records of your transactions.

But I guess everybody out there is concerned about the government seeing that they are purchasing some fast food or groceries at Wal-mart.

 

[Codes]

This is just another way that the Obama regime can watch you...

Pretty sure this is happening in Ireland. And last time I checked Obama isn't the president of Ireland or the VP/CEO of the National Irish Bank.

-Codes

 

[drpineapple]

bscofield6, what you say is reasonable. It is more convienent, charge backs and you get perks ie points etc.

There are two things to consider, in regards to the forum and members, CRH time is numbered. Our favorite hobby will be finally driving 100 miles to the last bank that accepts coins in limited amounts and eventually no more.

The second, for me personally though, lines haven't been drawn. For example, when you buy your groceries every month or so at 2am in the morning on your bank card of choice and it is for Peptobismol, is it because you work the late shift and have a relative who needs it or you have a hidden physical condition that your next potential employer can get that information, screens you and rejects your application? Your spending patterns can translate into certain behaviors. Or do you want everyone to know you have a weird _______fixation, and because of that you have higher car insurance rates? The question to ask is how far are you willing to let 'others' know you and discriminate? Technology isn't inherently bad but if today there is different forms of discrimination still, then tommorrow it will be instantaneous due to the electron. Thanks to data mining everything will be discriminated upon because you can use it to make an electronic buck.

 

[bazinga]

user, you bring up some valid points as well.

There are lots of other arguments as well that would could make against it. For example, a large portion of our population have no bank accounts and do everything on a cash basis. Many can't even get bank accounts. And the little money that they make from odd jobs would now be taxes. Benefit for the gov, bad for everybody else.

 

[DFX DAVE in M.D.]

The Casino's in Delaware are pretty much change free now. You put bills in the slot machines and get vouchers back that you take to a cashier, or put in another slot machine. I miss the coins clanging, and using the coin buckets. They may have a machine or two that still takes coins, but I did not see it.

 

[cdltpx]

I highly doubt we will see a completely cash less society soon, In the USA there is a subculture that doesn't have any legitimate bank accoung due to bad credit. Wal marts adjusted for this class they are ready to charge for financial services to those that fall into this category. Check cashing , selling money orders, and what ever else people need.
I had to get a money order to get an animal trap from the animal control they would not take cash and I never carry checks in the car it was the first money order I had to buy in over 20 years.

 

[obediah]

But I guess everybody out there is concerned about the government seeing that they are purchasing some fast food or groceries at Wal-mart.

They are building profile(s) of US, you and I, even tracking our income spending habits- shoot Yahoo etc, does this and sells info to advertisers targeted to you specifically. There is NO privacy whatsoever today where it matters most from Government notthat we are doing anything illegal, illegal now, it is a fact those in power in our Gov now not just the right left, you know Dens or Repubs but power behind both is the same with same agenda and it is NOT good or good for US

We MUST be fully informed or we will be taken, forget the managed "conservative" voices check out News With Views, or Derry Brownfield . com, or the New American online magazine; don't believe anything prove everything!

 

[obediah]

user, you bring up some valid points as well.

There are lots of other arguments as well that would could make against it. For example, a large portion of our population have no bank accounts and do everything on a cash basis. Many can't even get bank accounts. And the little money that they make from odd jobs would now be taxes. Benefit for the gov, bad for everybody else.

Read an article recently which said Banks will be closing unprofitable accounts, those that use their services but they do not make money off them; figure they will close my 3 minimal accounts as all use them for is CRH'ing- laundering my clads, in fact have NEVER borrowed a dime from a Bank nor do I plan too. Debt free is the way to be.

 

[bazinga]

user, you bring up some valid points as well.

There are lots of other arguments as well that would could make against it. For example, a large portion of our population have no bank accounts and do everything on a cash basis. Many can't even get bank accounts. And the little money that they make from odd jobs would now be taxes. Benefit for the gov, bad for everybody else.

Read an article recently which said Banks will be closing unprofitable accounts, those that use their services but they do not make money off them; figure they will close my 3 minimal accounts as all use them for is CRH'ing- laundering my clads, in fact have NEVER borrowed a dime from a Bank nor do I plan too. Debt free is the way to be.

The last time I applied for a CC through Chase, they denied me. They sent me a big long letter stating that I was not a profitable customer. I spend $2-10,000 per month on that card and always pay it off instantly and cash in for rewards checks. Maybe they are right, I'm not very profitable, haha.