Pa Daly (Kerry, Sinn Fein) | Oireachtas source

I wish to discuss the overall Bill. I was recently in Liverpool, and in one of the local chip shops, there was a message on the glass screen that read:

Cash is our preferred method of payment. With cash, we retain 100% of its value. The card processing companies get 0%. Big banks get 0%. Keep cash alive and support local businesses.

Over recent years, organisations that should really know better, such as the National Driver Licence Service, NDLS, the ploughing championships, Iarnród Éireann, the national car test, NCT, and the GAA, have rowed back from plans they had to eliminate cash payments. We also recently saw plans by one of the major supermarket retailers in Britain, which also operates here, to phase out cash payments at self-service checkouts. The motivation for this is always to do with making more profits for the company. There is nothing to do with conveniencing consumers. Access to cash remains, and will remain, crucial in our economy and society.

The same must be said with regard to banking services through the branch and ATM networks. A recent survey commissioned by the Department of Finance found that 37% of customers still visit their branch every month, and that number is greater in rural areas. Despite the push from the banks to move people towards online banking, there is a distrust of online services. People like to have cash in their hands and they should be facilitated. They should have an ability to access cash locally and conveniently. These services should be provided by banks, or ATM operators where ATM infrastructure has been sold off, and without unfair fees. In some places, particularly abroad, there is a charge of, say, €2 to access an ATM. In the North and in Britain, 95% of the population has free access to cash deposits and withdrawal facilities within 1 mile of where they live in urban areas and within 3 miles of where they live in rural areas.

The details of what communities, individuals and businesses will be able to depend on in future are missing from the legislation. The legislation must ensure that banks do not close cash facilities, including bank branches, where branches are a key local source of cash. The Bill does not protect the right to use cash, only to access it. It is critical that the Government, industry and regulators understand the important of access to cash for social and financial inclusion. Its use and access must be protected in legislation. Often, the lower paid workers will suffer, such as people who rely on tips. Even though legislation was introduced a few years ago to ensure they receive access to tips, the reality is that sometimes does not happen. Retailers should be required to accept cash as a form of payment. The predicted transition to a cashless society is neither inevitable nor desirable. Research has shown that reduced access to cash presents risks to rural communities and personal independence and creates risks of financial abuse and increased debt.

Similar to what we saw in the chip shop in Liverpool, we should keep cash alive, support local businesses and ensure that the transition and the money are there to keep as much money as possible in the hands of the local retailers.

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