Allied Irish Banks has entered a joint initiative with An Post which will see 1000 post office outlets becoming agents for the bank across Ireland.
From July 2002 AIB personal customers will be able to lodge and withdraw cash from their accounts using their local post office. The bank's business customers will have access to An Post outlets for cash deposit.
The alliance will increase number of outlets handling basic transactions for AIB customers from 280 to 1280.
Eugene Sheehy, managing director AIB Bank, Republic of Ireland says: "The link with An Post will enable us to deal quickly and efficiently with the increasing volumes of routine transactions and give customers the fast and local service they require. It will also give us more time to meet the significantly greater demand from customers who want to visit their AIB branch for consultation and advice on money management and financial services."
"An Post has a huge level of ability and expertise in handling high volumes of transactions. It also has an unrivalled nationwide reach and the capacity to take on additional business," he adds.
AIB has also confirmed that, as part of its medium term (3- 5 years) business strategy, the bank will maintain its branch presence in every town and village in rural Ireland.