Competition watchdog urged to examine proposed legislation on access to cash

The Banking and Payments Federation of Ireland (BPFI) has called on the competition watchdog to examine proposed legislation aimed at safeguarding cash into the future. The legislation, known as the Access to Cash Bill, was discussed at a hearing of the Oireachtas Finance Committee. The chief executive of the BPFI, Brian Hayes, expressed concerns about certain provisions in the bill, stating that they pose a risk to the competitiveness of the Irish retail banking sector.

Under the proposed legislation, the responsibility for maintaining access to ATMs and cash services would fall solely on the State's three retail banks, despite them controlling only a third of the infrastructure

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