Dublin – Minister for Finance, Jack Chambers T.D., has welcomed the publication of the Finance (Provision of Access to Cash Infrastructure) Bill 2024. The Bill aims to guarantee that cash remains readily available throughout Ireland, ensuring fair and transparent access for all.
“Cash is essential for many people and businesses,” said Minister Chambers. “It remains a secure and immediate form of payment, crucial for budgeting and maintaining financial independence.”
Key points of the Bill include:
- Ensuring a specified percentage of the population is within 5-10km of an ATM and a cash service point.
- Maintaining ATM and cash service levels at December 2022 standards.
- Authorizing the Central Bank to supervise ATM operators and cash-in-transit providers.
The Bill also addresses local deficiencies in cash access and allows the Minister to regulate or cap access fees if needed. Regular reviews will ensure the criteria remain relevant.
This initiative stems from the 2022 Retail Banking Review, highlighting cash’s role in preventing financial exclusion and providing a fallback during technological outages.
Supplementary Information:
- 99% of Ireland’s population is within 10km of a cash service point.
- The Bill targets three main retail banks to maintain cash access.
- Central Bank will monitor compliance and address local cash access issues.
NUTS3 regions in Ireland include Border, West, Mid-West, South-East, South-West, Dublin, Mid-East, and Midlands.
For more details, visit oireachtas.ie.