Big cash injection for Ireland- will some find its way to your pocket?
It's all going on in Ireland at the moment- if it isn't Monarch's visits, its the lack of cash in the Irish economy. However, now Allied Irish Bank (AIB) have announced a cash windfall of €8.4m .
Their press release, issued yesterday, confirms that they are going to refund €5.1m relating to 41,000 AIB customer transactions and €3.2m relating to 30,000 non AIB Bank customers following a review of unsuccessful ATM cash withdrawals, largely in the period 2003 to 2010, although there are reports of cases dating back to 1995.
The 'glitch' happened when customers withdrawing money from an ATM forgot to take the cash. Yes I know that would generally be the whole point of using an ATM, and to 'forget' or 'become distracted' at the crucial moment sounds incredulous, but do remember this did happen in Ireland. To Irish people. Nuff said.
The ATM machine automatically shuts after 30 seconds, taking the cash with it, but AIB's "anti-fraud measures" prevented it from automatically processing the refunds. "Process and procedure changes have now been put in place to prevent a reoccurrence" said AIB.
Anyone who is entitled to a refund will be contacted by AIB shortly and does not need to take any further action to reclaim their cash. AIB customers will receive the refunds immediately, while customers of other banks will have to wait until it makes arrangements to transfer the money to the banks holding those accounts.
A small number of AIB's customers in Northern Ireland were also affected.