The Central Bank has launched a public consultation on how best to address deficiencies in the State’s “cash infrastructure”.
Under new legislation, the regulator is required to prepare guidelines setting out how it will address problems faced by consumers and businesses in accessing cash.
Consumers are increasingly ditching cash and cards in favour of using apps on their phones to make payments and cash services are falling as a result.
New figures from the Banking and Payments Federation Ireland (BPFI) show that contactless payments accounted for 88 per cent of all point-of-sale (POS) card payments during the first half of the year.
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They also showed that 58 per cent of the payments were made using mobile wallets rather than cards. Cash use is falling fast, the BPFI said.
As well as addressing deficiencies relating to geographical areas, the Central Bank said the guidelines would lock banks into providing minimum ATM services.
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“In 2026, we will publish regulations outlining ATM service standards relating to the hours of ATM availability, cash withdrawal limits, banknote denomination stocking, maximum ATM unavailability periods, and signage and information requirements,” it said.
Deputy governor Vasileios Madouros said that, amid a rapidly evolving payments landscape, the Central Bank was committed to making sure that cash continued to be readily available as a means of payment.
“Today’s consultation is an important step towards the implementation of the Central Bank’s new responsibilities under the access to cash legislation,” he said.
“This is an opportunity for members of the public and key stakeholders to have a say in how these important elements of the legislation will be implemented,” he said.
The period of open public consultation will run from December 5th to March 4th next.
The regulator said it would also engage directly with consumers, people with disabilities, older people and SMEs, in particular in the retail and hospitality sectors, during the first three months of 2026.
