Minster Charlie McConalogue insists the use of cash 'must be protected'

Minister for Agriculture, Food and the Marine Charlie McConalogue insists the continued use of cash is a necessity.

The Access to Cash Bill, brought before cabinet this week by the Minister for Finance, Michael McGrath, stems from a recommendation made by the Retail Banking Review, published in November 2022. 

The Review highlighted the continuing importance of cash in ensuring that people do not experience financial exclusion, that consumers can budget efficiently, and that there is a safety net in the event of electronic banking or the payments infrastructure being impacted by outages or cyber-attacks. 

“This legislation is designed to ensure the continued availability of cash and ATMs in the state,” Minister McConalogue said. “The General Scheme of the Access to Cash Bill is also aiming to ensure that the isn’t a further reduction in the number of ATMs located throughout the towns and villages of Ireland.

“Cash is an important part of life in Ireland and the future of cash must be protected. There is still a large percentage of the population who want to pay for their goods and services with cash. This legislation will help to ensure that people are not left behind and aren’t financially excluded.”