ATMs must dispense notes smaller than €50, Oireachtas committee urges

Draft report calls for greater availability of €20 notes to facilitate those on low income or social welfare as well as review of accessibility of withdrawal machinesOireachtas finance committee chair John McGuinness says access to cash must be accommodated: 'Whatever the future of banking is, the Government must insist that banks provide cash facilities.' Photograph: Tom Honan

A report by the Oireachtas finance committee, which has been examining the Coalition’s Access to Cash Bill, recommends that an obligation be inserted into the legislation to make denominations of cash lower than €50 available. This, the report states, has the effect of “forcing a minimum withdrawal of €50 and that the consumer may not have this amount in funds available to them, especially if they are low-income and/or in receipt of social welfare”.

Committee chair John McGuinness said that access to cash must be accommodated for people who want to continue using it. “Whatever the future of banking is, the Government must insist that banks provide cash facilities and without customers being penalised,” he said.

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