AI Summary of 11. Access fees
The document outlines the definition of an "access fee", which is a charge levied by ATM operators not associated with the relevant account used for cash withdrawal. A "relevant account" is defined as an account that allows withdrawals from an ATM in the State and is provided by an entity authorised to deliver financial services in a Member State.
The Minister has the authority, after consulting with the Bank, to enact regulations prohibiting or capping access fees in circumstances where the withdrawal is from a relevant account. This is intended to ensure that individuals and SMEs can access cash affordably and that financial inclusion is upheld, without being adversely affected by high access fees. Additionally, any charges related to currency conversion are not impacted by these regulations.
11. Access fees
(1) In this section -
"access fee" means a charge or fee, for the use by individuals and SMEs of an ATM in the State to withdraw cash, imposed by an ATM operator who is not the provider of the relevant account from which the cash is withdrawn;
"relevant account" means an account that -
(a) facilitates the withdrawal of cash from an ATM in the State, and
(b) is provided to an individual or SME by an entity that is authorised in a Member State (including the State) to provide financial services.
(2) The Minister may, following consultation with the Bank, make regulations -
(a) prohibiting the charging of an access fee, or
(b) prescribing the maximum access fee which may be charged,
where -
(i) the withdrawal concerned is from a relevant account, and
(ii) the Minister is satisfied that regulations are necessary to ensure that -