A member of the public withdraws cash from an Allied Irish Bank ATM (Cash Machines) in Sandymount, Dublin in January 2024.RollingNews.ie

Ireland's 'Access to Cash' legislation will come into effect on Friday, Ireland's Department of Finance confirmed on Monday, November 24.

Ireland's Tánaiste and Minister for Finance Simon Harris TD is set to sign order numbers five and ten of the Finance (Provision of Access to Cash Infrastructure) Act 2025, the Department announced on Monday.

Once signed, these orders will come into effect on Friday, November 28, the Department said.

The Finance (Provision of Access to Cash Infrastructure) Act 2025 commenced on June 30 this year.

"With levels of cash usage declining in recent years, the Act ensures that cash remains an important element of the payments system and broader economy," the Department of Finance said on Monday.

The Department said that the objectives of the Act were to ensure sufficient and effective access to cash in the State; to put in place a framework to manage future changes to the cash infrastructure in a fair, orderly, equitable, and transparent manner; and to bring cash-in-transit providers and independent ATM deployers within the regulatory perimeter of the Central Bank of Ireland.

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Section 5 and Section 10 of Ireland's Access to Cash Infrastructure Act

Section 5 of the Act requires the Minister for Finance, in consultation with the Central Bank of Ireland, to prescribe the percentage of the population that must be within a specified distance of not less than 5km and not more than 10km of an ATM and cash service point (bank branches and post offices) in each of the eight NUTS3 regions in the State.

The Minister must also set the minimum number of ATMs per 100,000 people in each region.

In line with the Act, the Section 5 Order prescribes access to cash criteria in line with December 2022 levels, taking account of the exits of Ulster Bank Ireland DAC and KBC Ireland plc. These have been reviewed with reference to recent data. This will ensure that the cash infrastructure in the State, including ATMs and cash service points, is maintained at current levels.

Meanwhile, Section 10 of the Act requires the Minister for Finance, in consultation with the Central Bank of Ireland, to prescribe thresholds for “designated entities," credit institutions that hold a set percentage of both current accounts and household deposits in the Irish market for two consecutive quarters.

Designated entities will be responsible for maintaining the access to cash criteria.

Further to consultation with the Central Bank of Ireland, the threshold for current accounts will be set at 6% of the total number of current accounts of credit institutions in the State, and the threshold for deposit accounts at 7.5% of the total value of household deposits of credit institutions in the State.

On the basis of the most recent data available, Allied Irish Bank, Bank of Ireland, and Permanent TSB would meet / exceed both thresholds and be classified as designated entities, the Department said.

The Central Bank of Ireland will be responsible for monitoring and enforcement of the legislation. Monitoring will be on a quarterly basis, and the bank will have the necessary powers to direct designated entities to implement measures to comply with access to cash criteria and address local deficiencies.

The Tánaiste said on Monday: “In recent years, the Irish payments system has become increasingly digitalised, yet cash remains an important means of payment for many people in society, such as the older generation or those who are digitally excluded.

"The orders will ensure that cash is accessible in communities right across the country.”