Ireland to force businesses to accept cash
Irish businesses will be forced to accept cash under new rules which politicians say will stop shoppers being “left behind”.
Supermarkets, pharmacies and corner shops will have to accept physical cash, with other types of shops and retailers being exempted, under rules which were signed off by the cabinet on Tuesday.
The new requirements are expected to come into effect later this year.
The policy, which was recommended by a 2022 retail banking review, is one of a raft of measures being introduced by new access to cash legislation.
More than 90pc of Irish adults use cash, and it is the preferred payment method for a quarter of consumers in the country, a 2023 survey commissioned by the Department of Finance found.
Companies which operate ATMs may also be forced to keep €10 or €20 notes available, and there will be a commitment to keeping the number of cash machines at the same level as in December 2022.
The Irish government introduced the practice of “cash rounding”, which sees receipts rounded to the nearest five or zero for cash payments, in 2015 after a successful trial in Wexford.
The minister of finance, Michael McGrath, said: “We have to ensure that people are not left behind and we must avoid the risk of financial exclusion.
“We must recognise the important role that cash continues to play in all our lives, and this is a role I am determined to protect.”
Elsewhere in Europe politicians are either hastening in a cashless society – or seeking extra protections for those who prefer dealing with physical money or dislike online banking.
In France, businesses are forced to accept cash unless they believe that the notes or coins are counterfeit or in poor condition.
But in Sweden, Finland, and the Netherlands, shops can refuse payments made in cash.
The European Union has issued a recommendation that retailers must not refuse cash payments unless both parties agree.
Rishi Sunak ruled out forcing shops to accept cash in the UK last summer, saying that it would not be appropriate to interfere in the affairs of individual businesses.
The Prime Minister said that while he believed everyone should be able to access cash it would be “a different thing for the Government to start imposing on individual businesses”.
His comments came after the British government committed to foreign banks to provide customers with free access to cash within three miles of their home.
Martin Quinn, of the Payments Choice Alliance, a campaign group, said he welcomed the Irish government’s plans, and urged the British government to pass similar legislation.
He said: “It is about time the Government also looked at passing a Payment Choice Act here across the United Kingdom.”
“With a general election approaching later this year, this is a no-brainer and a definite vote winner for the Prime Minister, which would give Rishi Sunak an instant lift in the polls and would prove immensely popular amongst Tory voters.”
The Treasury was approached for comment.
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