Laws Protecting Access To Cash To Be Signed Off On

The new Finance Minister is set to sign off on laws protecting people's access to cash today.

The legislation, which was passed by the Oireachtas in May, will ensure members of the public and businesses have guaranteed and sustained access to cash.

The Central Bank was asked to compile data around ATM cover across the country, and has presented a series of recommendations to Government.

Among the recommendations, are stipulations about maximum distances people can be from cash points.

Independent TD Mattie McGrath has said it is well overdue, "Many of the banks, especially bigger banks, have removed themselves from towns so this is very badly needed, we need extra cash".

Independent TD Mattie McGrath arriving at Leinister House in February 2020. Picture by: Leah Farrell/RollingNews.ie

Tánaiste Simon Harris, who was appointed Minister for Finance last week, thinks it will make a difference.

"Now I intend to sign the order, that will set out the criteria in terms of, how near an ATM must be to most of the population, how many ATMs or cash service points there should be for percentages of the population," he said, "I think this will make a real and practical difference to many communities".

Simon Harris with Micheál Martin in Leinster House.

Ulster Bank and KBC have exited the market in recent years.

AIB and Bank of Ireland have also shut a number of branches in towns and villages across the country in the last five years.

Between 2018 and 2023, 176 bank branches closed in Ireland, according to The Irish Times.