Payment Choice In Ireland - But NOT Yet In The UK!

This move to safeguard cash accees in Ireland follows recommendations from Ireland's 2022 Retail Banking Review.

Irelands Minister for Finance Paschal Donohoe said: "Cash remains a preferred form of payment and continues to play an important role in our economy. This bill will put in place a framework that will ensure sufficient and effective access to cash infrastructure is available in the State, and that any further evolution of the cash infrastructure will be managed in a fair, orderly, transparent and equitable manner for all stakeholders."

Three things to note here.

1. It took three years for the recommendations to crystalise into a law. That is too long; the “War on Cash” is moving faster than politicians, both in Ireland and the UK.
2. The aim is to provide “sufficient and effective cash infrastructure”. Is that like the UK’s “reasonable”? It’s time both Irish and British politicians starting using words like “very convenient” in this context; “sufficient” and “reasonable” are inadequate.
3. Having cash without being able to use it is useless. In Ireland, new rules on cash acceptance are also being applied to certain types of businesses. Supermarkets, convenience stores and pharmacies will now be legally required to accept cash payments from customers.

The UK Government has yet to even offer this limited legal guarantee that cash will be accepted.

No further delay if acceptable.

UK legislation on cash acceptance is required NOW.

IN 2025.

Source: lawsociety.ie/gazette/top-stories/2025/may/legislation-on-access-to-cash-is-signed-into-law