New legislation must ensure people in Donegal can get cash from ATMs and use it, says Doherty
Pearse Doherty has said proposed new ‘access to cash’ legislation must ensure bank machines remain accessible to consumers who want to use physical money in rural areas of Donegal.
The Sinn Féin TD was speaking during a debate on the Finance (Provision of Access to Cash Infrastructure) Bill 2024 in the Dáil.
The bill is being introduced by the Government following a retail banking review published by the Department of Finance in November 2022 that pointed to the continued importance of cash to many citizens.
"We should legislate to protect what is already in place, to have very clear rules in respect of access to cash that will be reviewed, to clearly define what are 24-hour ATMs as opposed to ATMs that are only accessible to the public within defined periods and to look at strengthening the rights of consumers to use cash when they have it in their pockets.
“On access to cash, anybody who works in the community sector with groups, is involved with the Scouts, organises bake sales or whatever, knows how difficult it can be to go to a bank with a load of coins.
"To be able to withdraw cash is one thing but being able to bring coins to a bank is a serious issue,” said Deputy Doherty.
Labour TD Ged Nash said: “The point Deputy Doherty made earlier is a universal one that I think everybody will agree with. Having a physical ATM in a specific location is all well and good, but the issue lies with access to it.
"With the reduction of banking services, we all know that ATMs are being removed from those former banking facilities, especially in certain rural areas, and the only ATM that may be available could be in a shop that might close at 10 p.m. The commitments around this issue need some work.”
Finance Minister Jack Chambers pointed out that the DoF retail banking review concluded that ‘despite a decline in its usage, cash remains an important element of the payments system and the broader economy and that it is essential that cash remains readily available to customers through ATMs and other means across the country’.
"The review recommended that the DoF develop access-to-cash legislation with the initial objective of developing criteria to secure access to cash at about the levels of December 2022.
"The review also called on Department officials to require ATM operators and cash-in-transit, CIT, providers to be authorised and supervised by the Central Bank,” the Minister told TDs.
Deputy Doherty said that as well as being able to access cash it was important people were able to use it.
“There are many businesses, including a number within a short walk of here, that do not accept cash.
“It is a serious issue that while there is a legislative right to access the cash, there is no right to be able to use it in the context of retailers accepting it as legal tender. I am glad that an increasing number of business entities in my community have signs up saying that it is important to use cash,” he declared.