‘Reduce cash use and save €680 a year’

HOUSEHOLDS could save €680 a year each if they reduce their dependence on cash for transactions which is well above the European average.

That is the claim of National Irish Bank (NIB) chief economist Ronnie O’Toole who said Ireland is the most intensive cash user in Europe.

He wants the Government to phase out cheques, retailers to reward people who pay with cards and also said the tax on debit cards should be abolished.