ACC to close branches, EBS withdraws tracker products

ACC Bank said today it is to close seven of its branches and withdraw cash services from all of its outlets.

The company, which is owned by the Dutch financial services group Rabobank, said that branches in Dundalk, Naas, Portlaoise, Carlow, Longford, Mallow and Bandon, will close from January with staff to be re-deployed at other premises.

"ACCBank will continue to actively seek to open current and deposit accounts for business customers who do not have a cash service requirement," it said


Elsewhere, EBS Building Society has become the latest financial institution to withdraw tracker products to new mortgage applicants.

A statement from EBS said that it would no longer be offering tracker mortgages from close of business today.

Existing customers with tracker mortgages are not affected. while those who already have an offer of a tacker mortgage, but which is not yet drawn down, will still be able to avail of the mortgage within the terms of their loan agreement.

EBS said the decision to withdraw tracker mortgage products is a result of the continuing high cost of funds in the market.