Donegal TD Pearse Doherty has called for measures to protect access to cash and branch services, following the closure of Ireland’s remaining Ulster Bank branches.
Sixty-three local branches of Ulster closed their doors for the last time on Friday, including Donegal’s last branch in Letterkenny.
Sinn Féin spokesperson on Finance Pearse Doherty said reduced access to cash services risks further financial exclusion and is particularly damaging to elderly and low-income groups.
“In recent years we have seen banks remove and run-down branch and cash services. Access to cash is crucial for citizens, business and communities,” Deputy Doherty said.
“We now need legislation to protect access to cash, as has been done in Sweden and Britain, and Sinn Féin are working on legislation to make this a reality.
“Access to branch services also remains critical to communities and business,” he added.
“There is scope and a need to strengthen the Central Bank’s Consumer Protection Code with respect to branch services, and Sinn Féin will be outlining our proposals to the regulator as part of its public consultation on the Consumer Protection Code later in the year.”
Deputy Doherty added that it is “crucial” that Ulster Bank and receiving banks support customers who are in the process of switching their banking services to new providers.
