Central Bank of Ireland welcomes announcement of access to cash regulations

Central Bank of Ireland welcomes today’s announcement by the Tánaiste and Minister for Finance that regulations relating to the Finance (Provision of Access to Cash Infrastructure) Act will come into effect this week.

As required by the Act, the Minister for Finance prescribes the percentage of the population that must be within a specified distance of an ATM and a cash service point and sets the minimum number of ATMs per 100,000 people in each NUTS¹ region. Under the Act, certain credit institutions – referred to as designated entities – will be responsible for maintaining access to cash at minimum levels. The Minister prescribes the percentage shares of current accounts and household deposits that a credit institution may have that will determine whether they are a designated entity. The Minister consulted with the Central Bank prior to prescribing the criteria.

Governor Gabriel Makhlouf said: “Amid a rapidly changing payments landscape, the Central Bank is committed to ensuring cash is readily available as a means of payment. The regulations announced today are an important step towards ensuring that consumers continue to have access to cash and in protecting the resilience of the cash system. They will also provide for the fair, orderly and transparent management of Ireland’s cash infrastructure as payment preferences continue to evolve.”

The Act provides for new responsibilities for the Central Bank, including monitoring compliance with the access to cash criteria set in these regulations as well as oversight of operators of ATMs and cash-in-transit providers.

The Central Bank will continue to work with key cash cycle stakeholders as the focus shifts towards implementation of the new legislation.  Key elements of this work include: 

1. Access to cash monitoring and publication - the Central Bank will gather data on a quarterly basis in relation to the number, location and hours of availability of ATMs and cash service points (e.g. retail bank branches and post offices). The data will also be used to publish information on a quarterly basis on the Central Bank website. The first publication of this cash infrastructure data is expected early next year. The Central Bank will monitor this data to assess compliance with the Act and assess proposals by designated entities to remedy non-compliance.
   

2. Service standards – the Central Bank will commence consultation before the end of the year on proposed regulations for minimum ATM service standards. This will outline proposed requirements for ATM operators including the hours of ATM availability, cash withdrawal limits and banknote denominations available from ATMs. Service standards will apply following completion of this consultation process and the subsequent making of the relevant regulations by the Central Bank.
   

3. Local deficiencies – the Act provides for the identification and remedying of local deficiencies – i.e. where particular difficulties in accessing cash may arise in certain areas. The Central Bank will commence consultation before the end of the year on proposed guidelines outlining how individuals and businesses can notify the Central Bank about a potential local deficiency. The Central Bank will publish local deficiency guidelines by 30 June 2026, following which the Central Bank will be responsible for reviewing notifications from the public where they believe there is insufficient access to cash services in an area. Following analysis and assessment, the Central Bank will, where appropriate, notify the designated entities of a local deficiency and require that they take steps to address the local deficiency.

Further information on Access to Cash can be found on the Central Bank of Ireland website.

Further Information

Elaine Scanlon 087 2136313