Supermarkets, convenience stores and pharmacies will have to take cash
Grocery shops and pharmacies will have to accept cash as part of a new plan to keep physical money in the economy.
Supermarkets, convenience stores and pharmacies will have to take cash, but not other stores will under law changes resulting from public consultation of the National Payments Strategy which is currently under way.
It comes as third-party companies which operate ATMs may be forced to have €10 or €20 notes available as the Central Bank will have powers to set and impose rules on them.
Banks will be forced to keep specific numbers of ATMs in certain regions under plans being signed off by the Cabinet today. There will have to be a minimum number of ATMs per 100,000 people and the proportion within 10km of an ATM or a cash service, such as banks or post offices.
The responsibility for keeping the designated number of ATMs will be with the three main retail banks – AIB, Bank of Ireland and Permanent TSB – under plans from Finance Minister Michael McGrath.
Credit to : Irish Independent