As well as ensuring those without bank accounts – or who might be uncomfortable with digital payments – have access to an ATM, Minister for Finance said it was essential as a fallback in case digital systems had an outage, or were hit by a cyberattack. As the saying goes, “cash does not crash”.
And so the Access to Cash Bill proposes that the big banks be obliged to maintain a certain number of ATMs based on population size, with scope for theThis could be seen as just a step towards managing the gradual phasing-out of cash in an increasingly digital economy. But not so fast. Cash may no longer be king, but it remains widely used and likely to maintain a role in Irish life.The move to online shopping and digital payments has been steady, particularly since the middle of the last decade and accelerating during Covid-19, while ATM withdrawals have fallen. Figures from the Banking and Payments Federation Ireland (BPFI) show a 60 per cent rise in online and mobile banking payments since 2018, with more than 6.6 million credit and debit card payments processed dail
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