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New law on location of ATM machines to come into force

Financial institutions will be required to ensure that an ATM machine is located within 10km of the vast majority of homes and businesses
Financial institutions will be required to ensure that an ATM machine is located within 10km of the vast majority of homes and businesses

A new law that requires financial institutions to ensure that an ATM machine is located within 10km of the vast majority of homes and businesses is set to come into force this week.

In one of his first acts as Minister for Finance Simon Harris is today expected to formally sign the order which guarantees access to cash across the State.

The legislation to introduce the new rules around 'Access to Cash,' was passed by the Oireachtas last May.

But after the passing of the legislation, the Central Bank was asked to compile information about ATM and cash services around the country.

This work has been completed and the final part of the jigsaw is one of the first items to make its way on the new Finance Minister's desk.

Today the Tánaiste will sign the order which will compel financial institutions to provide access to cash in towns and villages nationwide.

Simon Harris believes the measures will have an impact in Rural Ireland - where communities have been hit by branch closures in recent years.