Urgent: New ‘Access to Cash’ Law Signed Today for Irish Communities

UPDATE: A groundbreaking new law called ‘Access to Cash’ has just been signed into legislation today by Minister for Finance Simon Harris, ensuring that an ATM will be located within 20 kilometers of most homes and businesses across Ireland. This vital legislation guarantees that all citizens will have access to cash, a crucial lifeline especially for communities in rural areas.

The law, which was passed by the Oireachtas in May 2023 and formally signed today, places the responsibility on financial institutions to ensure ATM availability. The Central Bank of Ireland will oversee the implementation, which is expected to significantly impact areas where banks and post offices have closed over recent years.

Minister Harris emphasized the importance of this legislation, stating it addresses a growing need for cash accessibility. He remarked, “We are committed to ensuring that every community, regardless of its size, has reliable access to cash services.”

The urgency of this law cannot be overstated, particularly for residents in rural parts of Ireland. Many individuals, particularly the elderly and those without access to digital payment methods, have faced significant challenges in accessing cash. Tipperary TD Mattie McGrath welcomed the law, declaring it a necessary step forward. “Cash is king. This is very badly needed. We need extra cash,” he told Newstalk. His comments resonate with many who have had to travel long distances just to access basic cash services.

As this law takes effect, communities across Ireland are set to experience a notable shift in their financial accessibility. The focus now shifts to how swiftly the financial institutions will roll out the necessary changes to meet the new requirements.

Stay tuned for more updates as these developments unfold, and be sure to share this important news with your networks to highlight the significance of cash accessibility in our communities!