Statement: Cash Centre Strategic Review
07 December 2022
Press Release
The Central Bank Strategy commits to supporting the evolution of cash and electronic payments to optimise choice and access, through both policy measures and the deployment of a new Central Bank cash centre.
A strategic review of our cash centre operations has been ongoing and the Central Bank has decided to develop a new cash centre in an alternative and suitably smaller site in the greater Dublin area, and to dispose of its current site in Sandyford. The Central Bank will be engaging with the Land Development Agency in respect of disposal of its current site.
This is a significant investment by the Central Bank to deliver critical infrastructure in the national interest and demonstrates the Bank’s commitment to support the ongoing availability of cash as a means of payment into the future.
We expect it will be at least seven years before a new cash centre is delivered. Until such time, our operations will remain on the current site and we will continue to engage fully with our people as we move ahead with this important initiative.