Shops, cafes, and newsagents in Ireland may be forced accept cash under a newly proposed law, and banks would have to offer customers “reasonable access to cash.”
The draft bill is set to be tabled by the Department of Finance next year, and may include having a minimum number of ATMs in each town or region.
“People like, or indeed, need to use cash, and uncontrolled changes resulting from individual commercial decisions are leaving them behind,” Fine Gael Finance Minister Paschal Donohoe said.
“This isn’t fair and it could be damaging to financial inclusion.”
The Minister went on to explain the plan regarding ATM access.
“The Government might decide it is appropriate that, inside particular areas – that citizens or communities above a certain level – should have access, in a point, to the ability to deposit cash and the ability to withdraw cash,” he said.
“We will have to consider whether that is appropriate here in Ireland for that to happen, given our population densities, and given the fact that we now have a more concentrated banking sector than we had a year ago.”
The news comes after significant backlash earlier this year, when AIB proposed making 70 of its branches cashless.
Rural politicians at the time said that the plan would be a “huge blow” for rural towns.
“After the loss of Bank of Ireland last year, AIB are following suit in the downgrading of service and removing their cash services from the Cahir Branch in coming months leaving many dedicated customers without access to their cash and the town without a secure, 24/7 ATM,” said Tipperary councillor Máirín McGrath during the controversy.
The plan was subsequently reversed.
BREAKING: AIB bank has reversed its decision to make 70 of its branches – in mostly rural locations – cashless, a proposal which had led to widespread anger.#gript https://t.co/5cpX2fC1GI
— gript (@griptmedia) July 22, 2022