Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 28 and 75 together.

The Finance (Provision of Access to Cash Infrastructure) Bill 2024, published in July 2024, provides for sufficient and effective access to cash. The Bill completed Second Stage in Dáil Éireann on 26 September 2024 and was scheduled for Third and remaining stages in Dáil Éireann on 02 April 2025.

The Bill provides for the prescribing, by regulation, of access to cash criteria in the eight NUTS3 regions in Ireland (these are EU classifications of areas used by Eurostat).

The criteria will be:

• A specified percentage of the population that must be within a set radius of not less than 5km and not more than 10km of an ATM
• A minimum specified number of ATMs per 100,000 people; and
• A specified percentage of the population that must be within a set radius of not less than 5km and not more than 10km of a cash service point.

Cash service points are locations where cash can be deposited and withdrawn, with in-person assistance available, during normal business hours. Bank branches and post offices satisfy this definition.

“Local Deficiencies” is the term in the Bill for locations within a NUTS3 region where particular difficulties arise in accessing cash, although the access to cash criteria is being complied with. A person can notify the Central Bank of Ireland of local deficiencies or potential local deficiencies. The Central Bank of Ireland will assess each submission and determine whether there is a local deficiency that warrants a remedy.

If the Central Bank of Ireland determines there is a breach of the criteria or a local deficiency, it will notify the designated entities who will have between one month and eight weeks to present proposals for its rectification. Where the Central Bank of Ireland is satisfied the remedy is adequate, the designated entities will implement it.

“Designated entities” are credit institutions operating in the Irish market whose percentage share of current accounts and household deposits exceeds prescribed thresholds. Credit institutions that exceed the thresholds for two consecutive quarters will be made designated entities. Based on the current structure of the Irish retail banking sector, the three large retail banks will become designated entities in the first instance.

The National Payments Strategy (NPS), launched in October 2024, recognises that cash continues to be an important means of payment and store of value for many people. The NPS recommended that all Government departments and bodies under their aegis accept a range of electronic and non-electronic payments, including cash.

If a body cannot accept cash directly it must arrange for the facilitation of cash payments via third party. Government departments and bodies under their aegis will be required to confirm, via their annual reports, that they are in compliance with this recommendation.

Furthermore, my Department is also negotiating the proposed Regulation of the European Parliament and of the Council on the legal tender of euro banknotes and coins. This draft regulation deals with the acceptance of euro banknotes and coins and the proposal includes a requirement for Member States to ensure sufficient and effective access to cash, which will be ensured by the Finance (Provision of Access to Cash Infrastructure) Bill 2024.