Banking

Banks will have ‘obligation’ to install new ATMs in towns with limited access to cash, McGrath says

Michael McGrath said legislation would give Central Bank the power to regulate the operation of ATMs across the country

Michael McGrath, the finance minister, said Access to Cash bill would give Central Bank the power to regulate the operation of ATMs across the country. Picture: RollingNews.ie

Banks will have an “obligation” to install new ATMs in towns that the Central Bank decides do not have sufficient access to cash, the finance minister has said.

“The Central Bank will have the power to assess what is an appropriate level of access which must respect where we were in late 2022 [the number of ATMs] and ensure that, overall, that level of access is protected,” Michael McGrath said.

The finance minister on Tuesday ...