Fergus O'Dowd (Louth, Fine Gael)
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175. To ask the Minister for Finance if calls by the local community in Carlingford, County Louth to reinstate the ATM will be supported given the lack of other alternatives for older and vulnerable persons to access cash within their 5 km Covid-19 restriction; and if he will make a statement on the matter. [5114/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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Actions taken by the banks, including their dealings with customers, are matters for the board and management of the institution. The independence of banks in which the State has a shareholding is protected by Relationship Frameworks which are legally binding documents that cannot be changed unilaterally. These frameworks, which are publicly available, were insisted upon by the European Commission to protect competition in the Irish market.

The Central Bank’s Consumer Protection Code (the Code) sets out a number of requirements for banks when amending or altering their services.

Provision 3.10 of the Code requires banks amending their services to give notice to affected consumers at least one month in advance of the amendment being introduced. This should include details of where customers can continue to access such services. The Code also contains a requirement in Provision 2.11 that a regulated firm must not, through its policies, procedures, or working practice, prevent access to basic financial services. This provision aims to ensure that vulnerable people can gain access to mainstream financial services.

The Central Bank expects that all regulated firms take a consumer-focused approach and to act in their customers’ best interests, particularly in dealings with vulnerable consumers. People who may be experiencing particular vulnerabilities, including as a result of the impact of COVID-19, must be provided with whatever reasonable arrangements and/or assistance they need in dealings with regulated entities.

It should be noted that COVID-19 has accelerated an increase in the use of digital and card payments and measures have been introduced to ensure that consumers can use digital and card payments where necessary. For example, contactless payments can now be made up to a value of €50 so that consumers have an increased choice in payment methods and less reliance on cash. Where a retailer does not accept a certain form of payment instrument, they must display so clearly at the entrance to their establishment or at the till.

However, cash still plays a vital part in the Irish payment system and where ATM facilities are unavailable, I would encourage consumers to avail of alternative methods to obtain cash if necessary, such as cashback facilities and withdrawal and lodgement services offered by An Post on behalf of some of the retail banks.