BANKS COULD BE compelled to reinstall ATMs in towns and villages across the country under a new law that would guarantee that people and businesses have access to cash.
According to the Irish Examiner, new legislation being finalised by Finance Minister Michael McGrath would set out a maximum distance between cash machines in rural areas to ensure that people would not have to travel far to withdraw money.
It comes a year after a retail banking review recommended that the Government should set out Access to Cash legislation that would require banks to set out “reasonable access to cash” criteria to preserve access.
The review raised concern about the acceptance of cash into the future due to the trend of digitisation of banking, adding that risks could arise if retailers and other public service providers, such as doctors or hospitals decide to not accept cash.
So today we’re asking: Should banks be compelled to provide more ATMs?
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