AIB to close 15 branches amid increased customer digital usage

In what is big news for banking customers nationwide, AIB has announced it is to amalgamate 15 of its branches in locations across the country.

The amalgamation will effectively see the closure of 15 of the bank’s branches with affected customer accounts being moved to a nearby branch.

The branches set to close are all mainly located in urban and suburban areas of Dublin and Cork.

AIB said the merging of the branches will happen on a phased basis, commencing this September and will be completed by December 2021.

So, that begs the question...

Why is AIB closing 15 branches?

The decision by AIB to close 15 branches was made following the completion of a strategic review by the bank which looked at changes in how customers interact with their providers.

One of the main reasons behind the move is an increase in customers using AIB’s mobile and tablet app as well as their increased use of its online banking services, a trend that has been accelerated in the banking world due to the pandemic.

A decline in the number of visits to AIB branches was also a key factor in the final decision.

Bank of Ireland cited similar reasons when it announced the closure of over 100 branches earlier in the year.

AIB said that customers are now interacting with its app more than 1.54 million times a day to oversee their various day-to-day banking needs.

This compares with only 35,000 daily branch visits. In 2019, customers visited branches 50,000 times a day on average.

AIB also said that customers increased their use of digital wallets such as Apple Pay and Google Pay in the first half of 2021 with volumes up by 85% compared to the first half of 2020.

After the closure, AIB will continue to have the largest branch network in the country with 170 remaining branches.

Managing Director of Retail Banking at AIB, Jim O’Keeffe said in a statement: 

We remain committed to maintaining a strong presence in the communities we serve throughout Ireland, and we will continue to do so with over 170 branches.  

However, inevitably and in line with the evolution of banking and customer needs, we are seeing a requirement to evolve our services to customers. We see that in overall digital usage, with customers interacting with our app more than 1.54 million times a day compared with just 35,000 daily branch visits. That convenience at the tip of our customers’ fingers means they are using branches less. 

We will do everything we can to guide our customers through the transition as we take another step towards ensuring a sustainable future for AIB’s branch network.

What AIB branches are closing?

Out of the 15 branches closing, six are in Dublin, another six are in Cork, while the remaining three branches are located in Limerick, Westmeath and Galway.

Here’s a list of the 15 AIB branches closing and as well as where affected customers' accounts will be moved to.

Dublin

Cork

Limerick

Westmeath

Galway

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Are you surprised at AIB’s decision? Will you be impacted by the branch closures? Let us know in the comments below.

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Before making the switch, you might want to consult our guide on how to switch current accounts or take a look at the recent piece we wrote on who is offering the best value current accounts in 2021. If you have any questions about today’s news from AIB or any banking questions in general, we’d be happy to help! Get in touch with us on  Facebook, Twitter and Instagram.