ATMs 'should have to issue lower denominations than €50'  

The Oireachtas committee report on the Government’s Access to Cash Bill said withdrawal amounts of €20 are 'regularly unavailable' to people using ATMs. 

ATM providers must be legally obliged to provide cash in denominations lower than €50, an Oireachtas committee has said.

A report from the Oireachtas finance committee on the Government’s Access to Cash Bill said that withdrawal amounts of €20 are “regularly unavailable” to people using ATMs, and that the “consumer may not have this amount in funds available to them, especially if they are low-income and/or in receipt of social welfare”.

However, the committee stopped short of recommending that shops be legally required to accept cash, despite concerns from some groups that too many goods and services are now only available to buy online or with a card.

“While the committee feels this is an important issue it is not within the scope of this bill,” its report said.

“However, the committee is of the view that this should be addressed under the work of the National Payments Strategy and encourages the minister to bring proposals in this regard forward as soon as possible.”

Age Action's Nat O'Connor said access to cash is about 'social inclusion' and being able to buy goods 'without being discriminated against or having your autonomy eroded'. Picture: Leah Farrell/Photocall

The Government’s Access to Cash Bill has been the subject of debate since it was announced in January.

It proposes the continued access to cash in the State, and that a minimum number of ATMs would be set per 100,000 people.

Over a series of committee hearings, TDs and senators were told that it is essential that cash remains available and usable across the country.

Age Action’s Nat O’Connor said access to cash is about “social inclusion” and stressed that people will still need to be able to access cash for at least the next 20 or 30 years.

“It is about being able to buy something in a shop or cafe, to buy a bottle of water on a train journey, or to attend a sporting match, without being discriminated against or having your autonomy eroded,” he said.

However, banking groups have warned that it will “almost certainly” drive fixed costs higher for retail banks which could increase the cost of everyday banking services for customers.

In its report, the finance committee emphasised the importance of the proposal to cap charging access fees for the use of ATMs.

“The submission from Mabs [the Money Advice and Budgeting Service] provides insight to the range of clients it supports and draws attention to the additional financial burdens which are sometimes faced by those who rely on cash, citing charges on ATM withdrawals and ‘cash premiums’ for paying for public transport, utility bills or other household charges,” it said.

It also said that access to public transport, geographic factors, and the demographics of the impacted population are given “special consideration” when assessing if there is any deficiency in access to an ATM in a particular area.

Committee chairman and Fianna Fáil TD John McGuinness said: “This report sets out the details of the pre-legislative scrutiny of the Access to Cash Bill, highlights a number of key issues, and contains recommendations that the joint committee feel would enhance and strengthen the bill.

“The joint committee looks forward to the bill’s progression through the houses of the Oireachtas and on engaging on the bill again at committee stage.”