Bank of Ireland to invest EUR 60 million in ATM modernisation

According to the official announcement, a total of 664 ATMs are about to be installed and to be used for both withdrawals and lodgements. The investment also covers five years of servicing and maintenance.

Bank of Ireland has announced that it will invest EUR 60 million to make improvements across its remaining branch network on the island, including installing hundreds of new ATMs

ATMs designed for greater cash processing

Most of these ATMs will recycle cash rather than requiring restocking from security vans, maximising ATM availability and supporting customers with better access to cash when they need it. The plans to roll out modern ATMs to all its branches will be implemented from 2024 until 2027.

In addition to the ATM rollout, the bank will also refurbish customer areas in 18 branches throughout 2024, including Stillorgan, Terenure and Coolock in Dublin, with more work planned for 2025. According to Bank of Ireland, this investment in branches and ATMs is the biggest in a decade, but it comes after it reduced the size of its branch network in 2021, shutting down a third of its outlets. Currently, there are 169 branches in the Republic and 13 in Northern Ireland.

Given the large number of customers they serve, major reinvestment is required every year. Moreover, this latest investment will see all customers across all countries benefit from these ATMs while also supporting their ambitions through energy reduction.

Finally, the bank will also begin a separate EUR 36 million project for its historic College Green buildings in Dublin this year.

This decision to modernise its machine fleet came shortly after the bank was criticised over its decision to remove ATM services in Longford Shopping Centre. The bank then confirmed that they have truly ceased providing ATM services in the shopping centre in the county town. In August 2023, the bank had to go through another problem with its ATM services, when, for a few hours, Bank of Ireland clients were able to withdraw money they did not have from Irish ATMs. According to the bank's official statement, the clients were able to take out up to EUR 1000 over their account balance and social media users spread news of the glitch, leading to long lines at ATMs across the country.