Independent operators of former ATMs belonging to AIB and Bank of Ireland can 'charge what they like' for people to use them.

Consumers' Association of Ireland chairperson Michael Kilcoyne was speaking as a three year agreement, which saw no charge to use the machines, is due to run out.

AIB and Bank of Ireland sold around 1,200 non-branch ATMs to independent operators back in 2020.

Mr Kilcoyne told Newstalk there is no regulation as the operators are private companies.

"The concerns about the ATM independent operators is there is absolutely no control on them, they are not regulated," he said.

"In 2020 AIB sold it's network of more than 500 non-branch ATMs to Brink's.

"There was an agreement put in place that for three years there would be no charges for cash withdrawals, that agreement is up shortly.

"I want some kind of regulation put in place, so that these guys can't decide on Monday morning that every withdrawal you do you're going to be charged a payment for it."

File photo shows an AIB ATM in Dublin. Image: Sam Boal/RollingNews

Mr Kilcoyne said the banks no longer have any say over their former ATMs.

"The machines were sold off, these machines are owned by third-party operators - they're not lease agreements, they're sold off," he said.

"They only gave a commitment at the time that they weren't going to charge for three years; the three years is now up.

"They're free to charge what they want.

"I want them regulated, they're not regulated - the result is a few months' time, these operators can charge what they like.

"The reason they can charge what they like is they own the machines, and if you want to use their machines they're entitled to charge you," he added.

Brink's has been contacted for comment.

Additional reporting: Andrew Lowth

Main image: A woman entering her PIN into an ATM in September 2020. Image: Andy Gibson / Alamy Stock Photo