AI Summary of 5. Access to cash criteria
The Minister, with Government approval and following consultation with the Bank, is empowered to specify access to cash criteria for NUTS 3 regions. This includes establishing minimum percentages of the population within a certain distance of ATMs and cash service points, as well as the requisite number of ATMs per 100,000 people. The order also allows for a review of ATM availability outside normal hours, contingent upon consultations regarding cash demand and operational deficiencies.
Additionally, the Bank is mandated to conduct regular reviews and submit findings on access to cash criteria, considering factors such as cash demand, population changes, and financial inclusion. The Minister will subsequently assess these findings to amend the access criteria as required, ensuring adequate cash infrastructure for individuals and SMEs.
5. Access to cash criteria
(1) The Minister, with the approval of the Government, following consultation with the Bank and having regard to -
(a) the need to ensure the continued provision of sufficient and effective access to cash infrastructure for individuals and SMEs, and
(b) in the case of the order first made under subparagraph (i) after the commencement of this section, the level of access to cash infrastructure available to individuals and SMEs as it stood on 31 December 2022, adjusted to take account of any changes to the level of such access that arose, before the making of that order, as a consequence of the exit from the market in the State by Ulster Bank Ireland DAC and KBC Bank Ireland plc,
in respect of each NUTS 3 region -
(i) shall, by order, specify -
(I) the minimum percentage of the population of the region concerned that ought to be within a radius, specified in the order, of not less than 5 kilometres and not more than 10 kilometres of an ATM,
(II) the minimum number of ATMs that ought to be available per 100,000 people in the region concerned, and