Members of the public will be able to directly raise concerns with the Central Bank should they have difficulty accessing cash in their locality.
The Tánaiste and Minister for Finance Simon Harris is set to sign off on proposals by the financial regulator designed to underpin the so-called Access to Cash measures.
New rules, introduced last year, included criteria setting out the minimum percentage of the population in each region that must be within 10km of an automated teller machine (ATM) and a cash service point, as well as the minimum number of ATMs per 100,000 people in each region.
New guidelines to be approved by Mr Harris in the coming days will allow members of the public and small business owners to directly raise concerns with the Central Bank where access to cash services in their community is no longer meeting local needs, even where broader regional access to cash requirements are being met.
Under the plan, individuals, businesses, community organisations and representative bodies will be able to notify the Central Bank where they believe there is a local deficiency in access to cash services or where such a deficiency is likely to arise.
The guidelines will set out the information required to make a notification, how the Central Bank will assess concerns raised, and the factors it will consider in determining whether a local deficiency exists and whether remedial action should be taken.
The Central Bank will take into account a number of factors, such as ATM or branch closures, population growth, travel distances, local geography, demographic considerations and the impact on financial inclusion – when considering contacts made by the public.
In February, in its first quarterly access to cash report, the Central Bank said the cash infrastructure in Ireland “remains largely in line” with the criteria set by the Minister.
It found there are just over 4,000 ATMs and just over 1,200 cash service points across the country but that there were “six instances where the criteria was not met”.
“People and small businesses need confidence that they can continue to access cash services when and where they need them.
“These guidelines will ensure that communities have a clear route to raise concerns where local access to cash is becoming more difficult,” a spokesperson for Mr Harris said.
The Central Bank will publish information on notifications received and their status throughout the process.
Groups such as Irish Rural Link have previously welcomed the access to cash measures introduced last year.
The Dáil voted to ensure greater access to cash in 2023 after a retail banking review found how some businesses were refusing to accept cash, in light of the move towards electronic payments during the Covid-19 pandemic.
