PTSB to withdraw cash service at 44 branches

Permanent TSB is set to withdraw cash desk services at 44 of its branches by the end of June, as it plans a revamp of its 76-strong branch network.

Self-service banking machines have been introduced to 28 branches, including Baggot Street and Dundrum in Dublin, Castletroy and Dooradoyle in Limerick, Carlow, and Maynooth, automating cash transactions.

This means that there will no longer be a cash desk in these branches from April 19th, with a “digital experience” on offer instead. A further 16 branches will also become fully automated by the end of June.

Branches

Thirty-two PTSB branches, including Grafton Street and Swords in Dublin, and O’Connell Street in Limerick, will continue to offer full cash services.

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According to the bank, customers will be able to withdraw up to €1,500 daily from the new quick bank machines, with a further €700 from any ATM or cash point. For withdrawals in excess of this, customers will need to visit a full service branch.

On Tuesday, the bank reiterated its commitment to its 76-strong branch network, as it announced a €5 million investment programme for branches in the coming year.

"We kept all 76 branches open since the Covid lockdowns began a year ago and we are committed to maintaining a nationwide network into the future," said Patrick Farrell, director of retail banking with PTSB. The bank could also potentially see an increase in its branch network; PTSB is in discussions with Ulster Bank about acquiring some of its mortgage and small loans book, a deal which could include the bank's 88 branches in the Republic.

The move towards digital services from PTSB follows considerable shake-up in the retail banking market, including Ulster Bank's decision to withdraw from the Irish market, Bank of Ireland's plan to close 103 branches, or a third of its branch network, with AIB also announcing some branch closures.

It is also in line with a move towards banks increasingly offering digital services. Branches of KBC Bank have always been cashless for example, while both Bank of Ireland and AIB only offer cashier services in some of their branches.

A spokesman for BOI said that across the Republic and Northern Ireland, following the closure of 103 branches, 156 of its branches will be full service, with 26 advice and self-service.

FX services

PTSB is also set to withdraw foreign exchange cash services across its branch network. From April 19th, the bank will no longer buy or sell foreign exchange currency in any of its branches. Customers will still be able to make FX payments by using foreign draft, SEPA or SWIFT, while debit card users will also be able to withdraw FX from ATMs when abroad.

A spokeswoman for the bank said: “There is very little customer demand for FX cash as the majority of customers are now using debit cards or ATMs while abroad and this is why FX cash will no longer be available in branches from the 16th of April. However, FX drafts will still be available in branch as an alternative for the very small number of customers who require a FX service.”

Branches affected (nearest branch with cash desk)

Ardkeen (Hypercentre)

Ashbourne (Swords)

Baggot Street (Grafton Street)

Balbriggan (Drogheda or Swords)

Ballincollig (Patrick Street)

Ballyfermot (Liffey Valley)

Bandon (Clonakilty)

Blackpool (Patrick Street)

Carlow (Kilkenny or Portlaoise)

Carrigaline (Douglas)

Castletroy (O’Connell Street, Limerick)

Dooradoyle (O’Connell Street, Limerick)

Dundrum (Stillorgan or Tallaght or Grafton Street)

Finglas (Blanchardstown NTC)

Gorey (Wexford)

Greystones (Bray)

Malahide (Swords)

Maynooth (Liffey Valley or Naas)

Monaghan (Dundalk)

Newbridge (Naas)

Newcastlewest (O’Connell Street, Limerick)

Raheny (Artane)

Rathfarnham (Tallaght)

Rathmines (Grafton Street)

Roscommon (Athlone)

Tullamore (Portlaoise or Mullingar)

Tyrrelstown (Blanchardstown NTC)

Walkinstown (Tallaght)