National Irish Bank and An Post partnership
1. Why did National Irish Bank take the decision to go cash-free?
- In our experience, cash is used by customers far less than in the past. Only a very small percentage of our customers conduct regular cash transactions through our branches.
- Our customers generally find that debit, credit cards and electronic payment methods are far more convenient.
- While as a country, we are a bit behind parts of Europe (where cash is sometimes hardly used at all), our infrastructure in National Irish Bank does lend itself to going almost entirely cash-free.
- Cash is very costly to administer, and there is a security concern as well - cards and electronic banking methods are far safer ways to make and accept payments.
2. When will National Irish Bank customers be able to use the Post Office network?
The new services will be rolled out through post offices across the country on a phased basis from November 2010.
Cash lodgements: The cash lodgement facility will be made available in over 1,100 post offices on a phased basis between November 2010 and March 2011. This gives us a bigger lodgement footprint than ever before (See attached schedule for the 193 going live in November)
Cheque lodgements: Almost 200 post offices will be equipped to accept cheque lodgements by the end of November 2010.
If you are a personal customer and wish to order a debit card for your account please contact your branch.
If you are a business customer and wish to order a debit card on you current account or set up a petty cash account with a debit card please contact Business Direct, your relationship manager or service team.
Note: If you lodge cheques to your accounts directly through NIB branches, you will be able to access the funds more quickly than if you lodge them in a post office.
3. What are the benefits of using a Post Office for cash lodgements?
- We believe that our alternative solution through An Post is convenient for our customers.
- A very important benefit is the greatly expanded network of branches. An Post offers a network more than 40 times' larger than the NIB branch network. The opening-up of such an extensive network offers you greater convenience when you need to lodge
cash or cheques. There will be over 1,100 post office branches throughout Ireland that will offer this service once it's fully operational.
- Funds lodged to an NIB personal account at a post office will be credited to the customer's account that same day. Larger business customers will receive value for any cash lodgement on the next business day.
- Cheques will be taken for processing by NIB on the next working day. Normal clearing times will apply.
- Post offices are open for longer hours than traditional bank branches. Many post offices are open from 9.00am to 5.30pm from Monday to Friday, and on Saturdays from 9.00am to 1.00pm (There may be some local variations).
- Cash withdrawals can be made through the nationwide network of 3,400 ATMs. Cash withdrawals will be subject to the existing daily limit set on your individual card.
5. How much cash can I lodge on a weekly basis through a post office?
- There will be a maximum limit on lodgements of €33,000 in cash per week.
- Typical customer lodgement patterns show that this limit more than adequately covers the cash needs of the majority of our customers.
- If that limit is too low for your requirements, you may be better suited an alternative arrangement. Please speak to your local branch or business centre for further information.
6. Will it cost me more to use the post office?
- There will be no additional charge for using this service, over and above those already agreed with NIB for your account transactions and / or cash handling.
- However, you'll need to lodge cash and cheques separately and this will result in an additional lodgement transaction fee where you lodge both on the same day.
7. What alternatives can I use to access cash from my National Irish Bank account?
When you do need cash or want to make a payment, you can also use:
- The nationwide ATM network which dispenses cash using a debit or credit card.
- Laser / Maestro debit cards which enable you to get cash back from retailers at Point of Sale.
- ATM Laser / Maestro cards which enable you to withdraw foreign cash from ATMs world-wide.
- Our award-winning eBanking service, which allows you to transfer funds, pay bills and make or receive payments - even internationally.
- Our Telephone Banking facility, which enables you manage your funds transfers and payments by telephone.
8. How does the An Post cash solution actually work?
It actually works very simply - You just bring the cash or cheques that you want to lodge to your local post office.
When lodging cash
- You will need to use a new pre-printed lodgement slip (All active customers will have received a lodgement book for that account from us in the post) or your NIB Laser/Maestro card/credit card.
- Simply hand the cash to the counter staff, together with the relevant lodgement slip or card. The transaction will be processed by the post office staff and you will receive a receipt.
- Funds lodged to an NIB personal account at a post office will be credited to the customer's account that same day. Larger business customers will receive value for any cash lodgement on the next business day.
- The maximum cash lodgement is €33,000 per week.
When lodging cheques
- Place the cheque(s), together with a new pre-printed lodgement slip with a barcode on it, into a special bag available in the post office or at National Irish Bank branches. The teller will enter the details from the bag onto the post office teller system.
- The cheque will enter the clearing system and be processed in the usual way the following business day. Remember that value dates for cheques lodged will be in accordance with the normal cheque clearing cycle, starting on the day the cheque is received by NIB. (N.B. Cheques will be credited for interest purposes on the day NIB receive the cheque). Next day delivery to NIB is subject to the lodgement being made to An Post prior to An Post's last collection time. Please ask your local post office when their last collection time is and allow some time for the staff to process your lodgement.
- To avoid the extra day in lodging a cheque, customers can lodge cheques at their nearest NIB branch.
When lodging both cash and cheques
- Where you have both cash and cheques to lodge, you'll need to process these as two separate lodgements using the appropriate voucher for each transaction.
| Cash Lodgements |
Cheque Lodgements |
Use your new pre-printed lodgement slip or ATM card/credit card |
Use your new pre-printed lodgement slip and
Special cheque lodgement bag
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| Hand the cash and slip to the Post Office teller |
Special cheque bags available from post offices and NIB branches |
| The teller provides you with a receipt |
Hand the bag containing lodgement slip and cheque(s) to the post office teller |
| Cash is lodged to your account on the same day where you are considered a consumer. In general, you are not considered a consumer if you are a business customer with a turnover of over €3million and hold incorporated status. (weekly cash lodgement maximum €33k) |
The teller provides you with a receipt |
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- Valid Cheque(s) are lodged to your account the next banking day
- Value dates for the cheques lodged will be in accordance with the normal cheque clearing cycle
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11. Will there be any facility for cash orders or coin orders under the new solution?
It will not be possible to pre-order coin or cash through An Post.
- If you have a need for a large amount of cash or coin, then a cash-in-transit solution tailored to your specific needs may suit you better.
- Alternatively, you have the option to use your debit cards to withdraw cash (not coin) from one of the 3,400 ATMs nationwide.
- You can also use a debit card, electronic payment or cheque to make a payment.
- All of the above transactions will need to be verified by chip and pin technology.
12. As a business customer how can I get coin?
- If you are a business customer with a requirement for a large amount of coin, you should speak to your relationship manager about the possibility of a secure 'cash-in-transit solution' where coin can be delivered directly to you.
- Business customers with smaller cash requirements can continue to withdraw notes using an ATM card.
- You cannot withdraw coin from An Post.
13. What alternatives are there to using cash?
Telephone banking
- Give our automated 24/7 Telephone Banking service a try - you'll find it highly convenient. It is designed to save you valuable time. You can conduct the majority of your routine banking transactions such as bill payments, funds transfers as well as tracking transactions on all of your accounts using this service.
- You can also opt to speak to a "real" person on our Customer Direct telephone banking team. They can perform most routine banking transactions for you over the 'phone.
eBanking
- Online banking is a very useful way to handle your bank accounts and our eBanking is the market-leading platform. It has won a number of awards for its ease of use, its functionality and its security.
- Registration is simple and once you sign up you can check your balances and statements whenever you wish.
- You can pay bills, transfer funds and set up savings and deposit accounts.
- You can also trade in stocks and shares on the international stock markets, make international payments and access your accounts from anywhere in the world at any time of the day or night.
- It might be worth your while getting an eBanking demonstration if you're not already registered. You can view one here at www-2.nationalirishbank.ie/link/personalebankingdemo
14. How long will it take for lodgements to reach my account?
When lodging cash
- You must use a pre-printed lodgement slip, Laser/Maestro card or credit card to lodge your cash to your account. The transaction will be processed by post office staff and you will receive a receipt.
- Cash lodged to your account at a post office will be lodged that day to your NIB account (unless you are a Business Customer with a turnover of more than €3million and an incorporated status, in which case you will receive value for any cash lodgement on the next business day).
- The maximum cash lodgement is €33,000 per week.
- If you lodge cash on a Saturday through An Post, your funds will be lodged on the same day.
When lodging cheques
- To lodge cheques, you must place the items, together with a pre-printed lodgement slip, inside a special bag at the post office. The post office staff will enter the lodgement details from the bag into the post office teller system. (The An Post staff will NOT have access to, or sight of, these cheques)
- Your account will be credited with cheque lodgements the next working day (subject to the lodgement being made before the latest cut-off time at An Post). Remember that value dates for cheques lodged will be in accordance with the normal cheque clearing cycle.
15. What do I do if I need to lodge cash before the service become available in my local post office?
- We have endeavoured to align the roll out of the An Post services with our branch conversion programme as much as possible.
- If you do need to lodge cash urgently and the new service is not yet in operation in your local post office, you can:
- buy a Postal Order at your local post office (Please note that a Postal Order purchase incurs a fee); and
- lodge it to your account at your National Irish Bank branch.
16. Should I consider a cash-in-transit arrangement?
The post office cash lodgement limit is €33,000 per week. If you regularly lodge more than that it may make sense for you, from a security perspective, to opt for a Cash-In-Transit arrangement. This service is provided at a customer's own expense and can be arranged between the customer and their NIB relationship manager as normal.
17. If I lose my card, can I withdraw cash in a post office?
No there is no cash withdrawal facility at An Post. To withdraw cash from an ATM you must have a valid card and PIN. This is a security measure for customers and their funds. If you lose your card you should report it lost immediately and order a replacement card.
Cheque Lodgements
23. Will I be able to lodge a cheque using the giro on my NIB credit card statement in a post office?
- Yes. We have changed the format of our Credit Card Statements to include a bar code as part of the credit lodgement / giro slip and payment of NIB Credit Cards is now possible at post offices that accept cheque lodgements. 6 working days should be allowed for payment to reach your account. The payment date is advised on your credit card statement.
- If you wish to make a payment to your NIB credit card using a cheque, you should put the lodgement slip / giro (at the end of your credit card statement) and cheque into a lodgement bag and present it at the post office.
- A list of post offices that accept cheque lodgements can be found here (link to schedule to be inserted)
- Remember you also have the option to pay by cash at any post office – you have two options to do this:
- Present the credit lodgement slip/giro and cash tato the post office. The teller will scan the bar code and accept your cash payment
- Present your credit card and cash to at the post office. The teller will swipe your card and accept your cash payment
- You should also consider using either our mobile banking, eBanking or telephone banking services to pay a range of bills including credit cards – these are more cost-effective and more convenient options.
24. Will I be able to lodge a foreign cheque through An Post?
Yes. Since April 10th 2012 An Post will accept foreign cheques (foreign cash is not accepted) accompanied by a barcoded lodgement slip. The credit will be processed by National Irish Bank usually on the following working day. An Post will issue a non currency specific receipt for the amount of the foreign cheque(s) lodged and the customer will receive confirmation by post from National Irish Bank of the converted value and exchange rate.
25. Can I use my euro personalised credit book to lodge a foreign cheque(s) through An Post?
- Yes. You may use euro credit slip, provided it is barcoded with your personalised account number. The slip needs to be manually amended to reflect the currency of the cheque(s), any reference number for booked rates or a Forward Contract number if one is being used. Customers who regularly lodge foreign cheques should ask their advisor to order a specific foreign cheque credit book for their account. Whether using a euro slip or foreign credit slip, only one credit slip should be used for each currency lodged.
26. When will my cheque lodgement be credited to my account?
Any cheque lodged through a Post Office will not be deemed to be lodged to an Account until received by National Irish Bank, which should be the next Business Day after the cheque has been lodged through a Post Office subject to the cheque being lodged before the latest time of posting at the Post Office concerned. Cheques lodged through Post Offices on a non-Business day will be received by us 2 Business Days after presentation at a Post Office.
Account packages
Post Office branches
31. Do we know yet which 200 (approx) Post Offices will accept cheque lodgements?
- There are over 1,100 An Post offices around Ireland. We have agreed with An Post that the initial cash and cheque lodging service will be located where there is sufficient customer demand. This decision is guided by our own branch locations (including areas where we have recently closed branches), post office size and customer demand.
- The list of all post offices is detailed on the post office schedule here.
32. What are the opening and closing times for An Post branches?
- Standard opening hours for An Post is 9.00am to 5.30pm Monday to Friday and 9am to 1pm on Saturdays. Opening hours do vary across the An Post network. For example, some close for lunch, some close for a half day on Wednesday, some also open for a full day on Saturday.
- Please check: http://locator.anpost.ie/post_office_locator.html for the opening times of your local post office.
- For cheque lodgements, customers should know when the post office has its last collection time, as the lodgement will need to be with the post office around 15mins before this time to allow the post office time to include it in the collection.
Communications
35. Will National Irish Bank advertise the availability of the An Post service for customers?
- We have already started this process through the public announcement of the service last June. The Bank's website also contains further customer information, and this will be updated on a regular basis.
- All business and personal customers with an active current account or deposit account with a lodgement book will receive an insert describing the new service, a schedule of when the post offices services will be available and how to use the service. All business customers with an active current account will also receive a new lodgement book for each account.
Other Questions
41. Who will process complaints about the An Post service?
If you experience any issues with the new service, we request that you inform us directly through our normal communication channels. The partnership with An Post allows us to provide customers with far greater convenience in terms of numbers of branch offices, extended opening hours and convenience. Both parties are keen to provide the best service possible.
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