This U Turn comes after the bank received stong backlash from consumers, politicians, rural and farming organisations.
Since then, AIB have released a statement, confirming that they will not be going ahead with these proposed changes. AIB already has 22 cashless branches across the country.
"In recent years there has been a dramatic increase in the use of digital banking services and a decline in branch visits and cash usage", AIB said. "In AIB's case, there are 2.9 million daily digital interactions compared with 35,000 customer branch visits".
"There has been a 36% decline in cash withdrawals from ATMs and a 50% fall in cheque usage over the past five years".
AIB also added that it will retain its strong branch network, and will continue to offer its banking services throughout its relationship with An Post. They also noted that mobile and online payments have increased by 85%, while branch over-the-counter transactions have also fallen by 50%.
Finance Minister Pascal Donohie welcomed this news, adding that banks play "a key role in maintaining the flow of cash through the economy and ensuring appropriate access to retail banking services for all in society, including the vulnerable".
