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Money matters

Decision to stock ATMs with €10 notes welcomed

A spokesperson for the regulator said the change will come into effect later this year.

ATMS ACROSS IRELAND will soon start dispensing €10 notes as part of the National Payments Plan, it was revealed today.

Spokesperson for the Central Bank told that the change will come into effect after the summer.

He also confirmed that €10 notes will not be available from every ATM – just a percentage.

The move has been welcomed by Labour TD Ciarán Lynch who has lobbied the Central Bank on the issue to ensure those on tight budgets have access to all of their money.

“Currently the minimum withdrawal from ATMs is €20, and it can even be difficult to find a machine that dispenses this amount. For those who are on lower incomes, this limits the access they have to their money.”

He says he hopes the plan will be extended to all ATMs around the country.

“While this development will benefit all ATM users, it will have the biggest impact on lower income families, and I am glad that consideration is being given to the harsh realities many families are facing, where budgets are extremely tight and access to all available funds is crucial.”

The spokesperson for the Central Bank said the regulator believes the decision will be beneficial for both consumers and retailers.

There are currently no plans to introduce smaller denominations to ATMs.

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