First Map of ATMs Published in Ireland to Secure Cash Access
The Central Bank of Ireland has unveiled the country’s first map of ATMs, a crucial step in its ongoing efforts to ensure that cash remains accessible to the public. This development responds to growing concerns about maintaining cash availability amidst an increasingly digital payment landscape.
According to recent data, Ireland hosts approximately 4,000 ATMs and 1,200 cash service points. The publication comes alongside a new initiative allowing the public to report insufficient access to cash within their communities, aiming to address localised concerns swiftly.
The Central Bank’s new regulations stipulate that a certain percentage of the population in each region must be within 10 kilometres of both an ATM and a cash service point. Additionally, there is a mandated minimum number of ATMs per 100,000 residents in each area. This framework seeks to preserve the ATM and cash service point numbers at their 2022 levels, factoring in the exit of KBC and Ulster Bank from the market. AIB, Bank of Ireland, and PTSB are tasked with rectifying any identified gaps.
The latest figures reveal a 7% decline in cash withdrawals from ATMs and cashback in shops, yet a significant €12.2 billion was still withdrawn. For every euro spent in cash, €2.46 was spent via contactless payments, highlighting the country’s digital shift. Despite this trend, maintaining cash accessibility remains a priority.
Deputy Governor of the Central Bank, Vasileios Madouros, stated, “The Central Bank is committed to ensuring that cash remains available as a means of payment for individuals and businesses across Ireland. Today’s publication of the local deficiency guidelines and cash access map follows a public consultation and engagement with stakeholders.”
Madouros added, “While our data shows the overall cash infrastructure is largely in line with the criteria set out by the minister for finance, we recognise that localised issues may arise. The new framework caters for the possibility of such local deficiencies, and its implementation is a further step towards safeguarding sufficient and effective access to cash across Ireland.”
For more details, visit: Irishexaminer.com
