The vast majority of Irish people (95pc) believe that everyone should have the choice to pay in either cash or card for goods and services.
Findings, from the latest Taxback.com Taxpayer Sentiment Survey, which polled over 1200 taxpayers nationwide highlight widespread support across the board for new Government legislation proposed to protect people’s rights to access cash, which would ultimately also safeguard their right to pay in cash.
The “Reasonable Access to Cash” Bill has been tabled as Ireland’s continued moves towards a cashless society. The new law, if introduced, was drafted on foot of a recommendation in the Government’s recently published Retail Banking Review. That review also called for the development of a new National Payments Strategy, which would take into account advances in digital payments, and guide how future changes should be made around access to cash criteria and other issues. This strategy could see the laws around reasonable access to cash extended to other firms or sectors, thereby forcing shops, cafés and other outlets to accept cash payments, rather than to insist on card payment.
Headline findings from the Taxback.com Taxpayer Sentiment Survey reveal
- Four in ten (40pc) people would support the proposed law as they would like the option to pay in cash and card.
- One in five (18pc) would support such a law as they usually pay in cash.
- One in ten (9pc) would do so as they believe elderly people will benefit.
- Almost three in ten (28pc) would be in favour of the legislation as they believe the law would be useful, even though they themselves only pay by card.
- Only one in twenty (5pc) wouldn’t support the planned legislation, stating that they believe it would be a backward step.
Commenting on the findings, Marian Ryan, consumer tax manager with Taxback.com said:
“The pandemic has accelerated the use of digital payments – as have the increased moves by the banks to curtail access to cash banking services. While many people have embraced card payments, Irish people are in almost full agreement that having the choice to pay in cash or card and the ability to access cash when it is needed should be a fundamental right. Otherwise, we risk ostracising people who, for whatever reason, don’t have there will be some people who simply will not be able to buy items or services which they badly need – simply because they don’t have card or cash on them. Some people struggle with online and card payments and find it incredibly difficult to manage their finances as a result of the increased moves towards digital banking and payments. This is simply unfair and borders on ostracism.”
One of the primary aims of the Bill is to force banks offer customers “reasonable access to cash” which could include having a minimum number of cash points per town or region.
Ms. Ryan went on to say,
“In recent years, banks have restricted and withdrawn many over-the-counter cash services in their branches – making it increasingly difficult for customers to manage their day-to-day banking. Many bank customers have had to travel lengthy distances to cash cheques or withdraw cash as a result – particularly in rural areas.”
Online mobile and banking payments hit record highs in Ireland, with nearly €4.8bn worth of contactless payments made in the third quarter of 2022.