Martin Browne (Tipperary, Sinn Fein) | Oireachtas source

It is welcome to finally see some legislation that might put some manners on the banks. They have tried to reduce the ability of people to access cash when and where they want over the last couple of years. Let us not forget that cash remains the preferred payment method of one in five people in Ireland. It is also important for social and financial inclusion for many people, and is a primary safeguard of privacy and against financial fraud, which is a greater risk than ever before. Last year when AIB tried to remove cash machines from Cashel, Carrick-on-Suir, Roscrea and Cahir, there was uproar. There was a unanimous decision by the public at that stage and the voice of the public made them change their minds and they reversed the closures in haste. As has been said, with some of the machines you would wonder is it being done deliberately. As Deputy O'Connor said, every time you go to them they are out of cash. At the time, the Government was caught on the hop. Unpreparedness did not sit well with the people. It indicated how Fianna Fáil and Fine Gael seek to appease the banks more than the general public in all these cases. The banks thought they could take advantage of this. Initially the Government said nothing at all about it despite having been shareholders in the bank. When the public did speak up, the message could not be ignored so they reversed it.

Under this Bill, cash infrastructure is to be maintained more or less at the level it was at in December 2022 for existing banks. The Central Bank will also be empowered to assess local deficiencies, especially in areas where it is particularly difficult to access cash. The Bill is very vague about what communities, individuals and businesses will be able to depend on in the future. It needs to be amended before this goes any further. I also have concerns about not protecting the right to use cash, with only access to it provided for in the Bill. This omission disregards the one-fifth of our population who prefer to use cash. That also needs to be addressed. Research has shown that reduced access to cash presents disproportionate risks to rural communities, those experiencing poverty, and those who choose to conduct their transactions through cash for whatever reason, such as security and so on.

Withdrawals from ATMs should not incur a fee, either. Banks are already charging us for having accounts with them. They are robbing the public. Every time we tap a card, they are charging us as well. They did not pass on an interest rate increase to savers while they were very quick to impose it on mortgage holders. I have also advocated for access to cash as a means of payment in these changing times. I am glad some sense has been brought to this affair although some of the details still need to be ironed out before the Bill passes through the Houses.

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