Michael Lowry (Tipperary, Independent) | Oireachtas source

A Chathaoirligh gníomhaí, a Aire, agus a chomhghleacaithe, today's world sees more and more people tapping a card on a machine in order to purchase something as simple as a cup of coffee. The vast majority of retailers no longer even tell customers the cost of what they are purchasing. They simply direct them towards a machine and by pressing the four buttons, the customers' money becomes the retailers' money in return for what is bought. Ultimately, the retailer transfers that day's takings to the bank with another touch of a button. The process is simple and efficient. That cannot be denied. People tap their way around towns and cities every day. The use electronic means to buy goods online and pay bills by standing order. They seldom see or handle cash. Unless something is seen, it is difficult to gauge its value.

Commentators jump to blame the Covid-19 pandemic for the fact that cash has fallen out of favour. At the height of the pandemic, handling money was certainly not something that would have been encouraged. The pandemic may have encouraged more people to ditch notes and coins and join the tapping era, but tapping was already established well in advance of the pandemic. The purpose of this motion is not to change that. In keeping with the rest of the world, Ireland has embraced electronic banking because its ease of use. The only way this will ever change is if an even more efficient system comes along. The motion seeks to protect the use of cash as legal tender and to keep notes and coins in circulation. It is worthy, timely and wise to move to ensure that cash will continue to be accepted as payment for goods and services.

The motion also seeks to protect people who continue to have a preference for using cash. People instantly think of the elderly members of our society in this regard. However, a survey carried out in November found that 78% of all Irish people feel that businesses should be legally obliged to accept cash as payment. Under existing laws, businesses can refuse to accept cash payments by simply putting up a sign at their entrances or at the payment point. This cannot be questioned by the customer. By doing it, however, a business discriminates against a significant cohort of people. Some elderly people have not transitioned to new payment methods. People who have been victims of electronic payment fraud may understandably be wary of digital payments. Homeless people cannot open bank accounts. Some intellectually challenged people find it easier to manage cash. There are those who are unable to keep track of their spending because they are not familiar with or do not have access to computers. Some people fear losing their debit cards and giving the finder access to their money. Some people simply prefer to manage their affairs by using cash. The list of circumstances and people affected by no-cash zones is endless. There is no one size fits all when it comes to money management. Refusing to take cash payment prevents these people from having financial freedom. It denies them their rights as citizens. It is a form of financial control.

Only the banks stand to benefit from a cashless society. Removing their obligation to handle cash means they do not have to have an expensive ATM network, paid bank tellers or cash vans constantly crisscrossing the country. Staff will be made redundant from banks and the public will be made totally dependent on banks. For banks, removing cash from circulation completely is a win-win situation. Meanwhile those who favour notes and coins are cast aside.

I fully support the motion to protect cash as legal tender by enacting legislation. This, in turn, would protect the interests and choices of all sectors of our society.

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