Tipperary TD Michael Lowry has come out in support of a motion on the Protection of Cash as Legal Tender.
Deputy Lowry says the only ones who stand to benefit from a cashless society are Banks and Financial Institutions as it would reduce their operating costs in respect of the ATM Network, cashier positions and cash distribution/security costs.
The Thurles based TD accepted the convenience of the use of cards for payments in retail and online outlets during a Dáil debate. Deputy Lowry says it is a “worthy, timely and wise move to ensure that cash will continue to be accepted as payment for goods and services.”
Deputy Lowry noted that at present businesses can refuse to accept cash payments simply byputting up a sign at their entrance or at their payment point.
The motion was put forward by the Rural Independents led by Tipperary TD Mattie McGrath.
It follows on from the 2022 Retail Banking Review which recommended that the Government should pre-emptively legislate to ensure that cash would be continued to be accepted by certain sectors and businesses.
The Government did not oppose the motion but it remains to be seen if and when it will act on it.
