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Bank of Ireland has completed the sale of its 700 non-branch ATMs in the Republic to the US group of electronic payment services Euronet for an estimated amount of 20 million euros.
The bank said the sale, which was underway earlier this year, had gone through. A spokesperson declined to comment on the value of the deal.
The rate of cash withdrawals from ATMs in Ireland and internationally has plummeted since the Covid-19 crisis broke out last March, as consumers relied more on cashless payments.
Bank of Ireland will retain ownership of its 750 machines at its branches. Euronet has agreed not to increase withdrawal fees, charged at 25 cent per transaction, for at least three years. Euronet acquired 400 ATMs from Ulster Bank two years ago.
“The sale allows the Bank of Ireland to focus on its own branch network and continue to invest in those services and digital channels,” said the lender.
Earlier this year, AIB sold its network of more than 500 non-branch ATMs in the Republic to Brink’s, marking the global cash management giant’s entry into this market segment in the state.
AIB has retained around 200 branch ATMs, as well as 430 cash and check deposit machines, of which 213 have the capacity to dispense cash.
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