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Bank of Ireland agreed to sell its network of 700 non-branch ATMs in the Republic of Ireland to the US company Euronet, in a move that could eventually lead to charges for their use.
The sale follows a strategic review of operations and the price paid for the electronic payment and transaction services firm has not been disclosed.
The bank said in a statement that the terms of the agreement will mean there will be no additional charges or fees for domestic cardholders.
But it is understood that this agreement will last for three years, which means that, after that, Euronet could start charging for the use of the machines.
Most ATMs are in retail locations.
“Euronet is also committed to continuing to operate ATMs at current retail sites and intends to invest more in ATMs once it takes control of the fleet,” Bank of Ireland said.
Following the deal, the bank will continue to own and operate more than 750 ATMs and hosting machines in Ireland.
This, he claims, is the largest network of any individual bank here.
“The sale allows Bank of Ireland to focus on its own branch network and continue to invest in those services and its digital channels,” he said.
Ulster Bank previously sold 400 ATMs to Euronet in 2018.
In February, AIB agreed to sell more than 500 non-branch ATMs to Brink’s.
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