Wednesday 31st July 2024 – Banking & Payments Federation Ireland (BPFI) and its members note the publication of the Finance (Provision of Access to Cash Infrastructure) Bill.
Cash is very important to the Irish economy and the banking industry is fully committed to playing its part in ensuring reasonable access to cash, both now and in the future, in accordance with consumer demand. This is clearly demonstrated through continued investment in the provision of cash services including branches and ATMs as well as extensive engagement with all relevant stakeholders since Access to Cash legislation was first proposed.
During this engagement, the BPFI and the three retail banks (AIB, Bank of Ireland and PTSB) highlighted concerns in relation to the need for shared responsibility in the provision of cash requirements across all significant current and prospective players in this market (including digital banks, fintechs and payment service providers); as well as the potential risks of Irish legislation moving ahead of the emerging proposals in forthcoming EU legislation.
BPFI and its members will review today’s published Bill in detail. As the legislative process moves forward, we will continue to advocate for a framework that is proportionate and ensures a level playing field for all providers of banking services in Ireland and welcome the opportunity to continue to engage with the Minister and all relevant stakeholders on this important matter in the months ahead.
ENDS/
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has over 125 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Fiona Murphy, Head of Communications, 087 9740046, fiona.murphy@bpfi.ie.
