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THE GOVERNMENT IS expected to make a decision by the end of this year on whether to introduce a right to pay with cash for certain goods, the Minister for Finance has said.
Micheal McGrath said today that he envisions the government will, by year end, define certain essential goods and services where a right to pay with cash is appropriate.
McGrath was speaking at a press conference this afternoon launching government plans to ensure a “reasonable access” to cash at ATMs around the country.
A decision relating to the right to pay with cash would fall under the government’s National Payments Strategy which is currently open to public submissions.
The public consultation will close on 14 February.
McGrath said today: “So we we see what people have to say on that. I recognise that for businesses, handling cash comes with a cost, but also digital payments can come at a cost in terms of merchant fees and so on.
“So we will have to make policy decisions. I would envisage that we will define certain essential goods and services where a right to pay with cash is appropriate. But we’ve made no decision on any specific good or service or outfit type that will be the subject to that.”
“I am interested in what the views are among stakeholders, but there will be changes. There will be changes as part of the National Payment Strategy,” the Minister added.
McGrath said a decision on the acceptance of cash in different parts of the economy will be made later this year.
In 2022, a retail banking review recommended that the Government should preemptively legislate to ensure that cash continues to be accepted by certain sectors and businesses.
The 2022 report noted that risks could arise should retailers such as large supermarket chains and other public and private service providers, such as doctors or hospitals decide to not accept cash.
ATMs
Minister McGrath today also got Cabinet approval for the ‘Access to Cash Bill’ which aims to ensure there is no further decline in the number of ATMs in towns and villages around the country.
The plan aims to restore the number of ATMs to 2022 levels, before Ulster Bank and KBC left the banking market.
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Cash is legal tender. Cash comes with less cost to the user. Banks should not have a monopoly on charging whatever they want to manage digital transactions. #cashisking
@Martina O Connor: Banks are regulated in Europe on what they can charge and managing cash has a cost for businesses too
@Martina O Connor: All businesses should be mandated to accept cash, not some cherry-picked list. Any businesses caught not accepting cash should be hit with an enforced closure order for 30 days on first offence, 90 days second offence. This will quickly kick the practice out.
@Martina O Connor: revolut has no cost to the user….
@Laois Weather: a business can choose to take payment in any way they choose, once the customer is informed prior to doing a transaction.
It’s not just about bank fee, having cash in store can create a security risk
@Colm O’ Shea: not after this they won’t
Any Business that says they don’t accept cash,doesn’t get my business.
@Gerard Carey: Do you ever book flights? Or buy insurance? Or subscribe to any club memberships or streaming services? Or shop online at all? If so, what do you do, post them a wad of fivers???
@Kevin Collins:
You know he is talking about brick and mortar stores…why are you being so obtuse?
@Gerard Carey: The business should be able to make that call, not the government
@Kevin Collins: Calm Down Kevin, I’m talking about everyday walk in shops.
@Mick Duvanny: No they shouldn’t. The consumer should.
@Gerard Carey: Thanks for clarifying Gerard.
I can see the logic behind requiring the acceptance of cash for essential goods and services like supermarkets, pharmacies, garages etc. However if the likes of a food truck, a coffee shop or even a nail bar don’t want the hassle of dealing with cash then I don’t see why they should be forced to do so.
There is a reason that many small businesses are card only, and that’s because it’s far easier, cheaper and safer for them to operate that way, even taking into account the occasional lost bit of custom.
@Kevin Collins: fair point
@Kevin Collins:
To a point…if their a sole trader then yes they should be able to choose…as I’m for less government interference and sole traders don’t enjoy the protection that limited liability is afforded to Ltd corporate companies for them they should be given no choice even if their small…
Hopefully the GAA will be included and obliged to accept cash.Was in Croke Park last year and couldnt even buy a sandwich without a card.Also make them take cash at the turnstiles.
@Willie Marty: . I was in Croke Park several times last year. I got pints, sandwiches, burgers, wedgies and I even got dinners at different times. No bother taking cash though I did pay at different times using the card as well.
@Richard Ford: was at two concerts there -wouldnt take cash probably because of the capacity crowd.Cards much quicker seems to be the policy
@Willie Marty: and yet gaa clubs the length and breadth of the country are paying anywhere up to 20k cash per season for club level, bog standard managers.
@Willie Marty: there are cash tills and there are card tills. No matter the event, both are available
@Ted Daly: youre right there Ted.
So it begins, cash is legal tender! Is it not? And now govt is telling us what we can buy with our money. Control of our money is a slippery slope.
@john dowling: No, the government will be telling businesses what they can’t refuse to accept cash for.
@john dowling: do you actually understand what legal tender means? It only means that it has to be accepted to discharge a debt.
With most purchases there is no debt incurred so cash doesn’t have to be accepted
Cash needs to be kept…your giving away way to much control by giving up cash completely…
A combination of both cash and card is best, with having cash as the ultimate back up…to go into the bank not atm…but a bank and withdraw it the traditional way…
Did Bertie get paid by cash?
If you don’t want my money, then that’s fine with me
All of the ‘cash is king’ crowd are also the anti vax, anti refugee, WEF/George Soros/Lizard people.
As a rule, if you just do the opposite of what they advocate, your life will turn out much better and more fulfilled than theirs.
@Wombleman: Yep, using the cash issue as “restricting freedoms” just like vax. Always spotted on the Dublin Road in Bray on a Sunday with their beep to support notices. I’ve yet to hear a beep.
@Wombleman: Stockholm Syndrome.
@Wombleman: go off and get your 20th booster and don’t be on here doing our heads in
Israel need to be stopped shower of k n ack ers
@sleepy joe: I’d agree with you but equally Hamas need to be stopped. Both are terrorizing people that makes them terrorists. Yes, a nation can be classed as terrorists. There are no good guys here. Just monsters.
@sleepy joe: they are awesome
@Rex Tynan: cash is king
Mixed feelings here, although the way to go is for business to accept cash for security reasons not to rely 100% on banks, I’m also not fond of business that only take cash, no cards, they are more likely to avoid paying their fair amount of taxes.
@J Ven: If only the taxes were fair, used diligently and the businesses acting as tax collectors were supported with services – then yes. But that isn’t what’s happening across alot of Ireland today, is it? Small businesses going to the wall because of government inaction – much more concerned about their ‘reputation’ on the international stage.
@Laois Weather: Real Irish attitude there.We don’t like what our taxes are being spent on so we are going to not pay them.imagine we all took that attitude.
@John Terry: Yes, how great it would be. Thank you for suggesting it, John!
Yeeeehawww… The chinese takeaways, taxi drivers, builders and loads more will love this. I think both cash and card is good but ‘cash only’ should be criminal offence
@Dan Danny: but the machine isn’t working and the guy that fixes it won’t be available for years
@Dan Danny: sick of the one and only Chinese takeaway in Carnew only accepting cash whereas the only cash machines are in shops and are possibly out of order on a Friday evening. Where do you go from there??? Revolut and SumUp are free, aren’t they?
@Padraic Costello: Make sure you always have cash on you like we used to in the good ol’ days. I’m sick of ppl who think they’re part of the royal family, they never have cash on them if they owe me a couple of quid.
As long as we also have the option of NOT paying cash, I’m fine with other people using cash. Good luck to them getting any of it back when they get mugged.
@Todd Hebert: yes, because the people getting mugged online get their money back. Oh wait
@Todd Hebert: Think you would want to check out online scams…The difference in being mugged and losing thousands in online scams . A bit like Billions of taxpayers money being used to bailout the banks who were facilated by the same politicians that forced austerity on the same taxpayers to repay for the gangsterism of the banks and developers. That’s what you call being mugged.
With more revelations about leaky leo last night, it seems the fraud is always happy to accept cash!! #SIPO
if cash is paid, there will be a lot of traffic and no tax paid
have your say