Fitzmaurice: Access to cash 'vitally important' for rural communities
New legislation that aims to provide a guarantee of access to ATMs and cash services in rural communities is "long overdue" according to the Independent Ireland TD, Michael Fitzmaurice.
The Finance (Provision of Access to Cash Infrastructure) Bill 2024 has passed its final legislative stage in the Dáil and will now be sent to the Seanad.
According to Deputy Fitzmaurice the bill will introduce legal protections to ensure that communities across the country, especially in rural areas, will be able to access cash withdrawal facilities and in-person banking services.
The Roscommon–Galway TD said recent weather events, including Storm Éowyn, illustrated how "vitally important" it is to have access to cash.
Deputy Fitzmaurice said. “ “When the phones are down or the electricity goes, card machines and banking apps won’t work, so the importance of having cash at hand to purchase essentials became immediately clear in the aftermath of the storm.
"Rural Ireland already gets the short end of the stick when it comes to digital infrastructure—and that’s before you factor in major weather events. The need to retain access to physical cash is not some quaint notion, it’s a lifeline.”
Deputy Fitzmaurice said the new bill is also "about resilience".
"It’s about ensuring our communities are prepared for emergencies.
"If anything, the situation in countries like Sweden proves the point. Their over-reliance on digital payments has left them exposed to new kinds of risk—from cyberattacks to system failures. We don’t want to sleepwalk into the same mess," he added.
Meanwhile Senator Victor Boyhan has also welcomed the passage of the bill which he believes has brought a "renewed focus on the importance of cash" for small personal and business transactions and will ensure people can access their own cash particularly for those living in rural communities.
“Not everybody wants or has access to online banking, many people prefer to draw out their cash from a local ATM and that’s fair enough and should be supported," the senator said.
He said the bill "places certain obligations on the three main retail banks around the number of ATMs per 100,000 people".
Senator Boyhan said that he would expect the banks to work collaboratively with each other and with retail operators who may have available space to ensure an equal distribution of ATM across the country.
"Banks can also join forces to provide shared access from the same ATM at each location.
"I look forward to the bill coming before Seanad Eireann where it will have my full support," he added.
