Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister for his reply. I have written directly to the Central Bank on the issue and I await a reply from Mr. Bernard Sheridan, the consumer director. I have raised these concerns directly with him because it is principally a matter for the Central Bank. However, we are far from being a cashless society. There are still State services that one must pay for with cash.

The reality is that these changes raise serious security concerns. If they are fully implemented, any undesirable person who observes an elderly person getting cash in a bank branch will know that he or she is coming out the door with at least €700. Such a ridiculous situation would put people at unnecessary risk, which would not be fair or acceptable. I welcomed the statement made by the Minister at the time. There has been somewhat of a row-back by Bank of Ireland, but the exact position is not clear. I appreciate that the Minister is not responsible for running the banks and that this is an issue for the Central Bank which needs to get on top of the issue to ensure customers are being properly supported. These supports might be provided on a temporary basis, notwithstanding the code, but if the policy which requires a minimum withdrawal of €700 remains in place, it will become the norm over a relatively short period of time. That is the concern.

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