New Bill aims to guarantee access to cash and provide more ATMs

Kenneth Fox

New legislation to guarantee access to cash and protect its use will allow people to highlight their concerns about a lack of ATMs in their area.

The ‘Access to Cash Bill’ will be signed off at Cabinet on Wednesday and gives the Central Bank new powers to address problems with access to cash, especially in rural and regional areas.

The laws will also direct banks to provide ATMs within five to ten kilometres of regional populations.

Speaking to Newstalk, Minister for Finance, Jack Chambers says the laws will future proof access to cash for businesses and individuals.

"We have really strong levels of cash infrastructure in the State presently, 99 per cent across most areas if you take between 5 and 10kms of where people live in rural areas.

"This is about protecting that baseline of infrastructure in the future and making sure we do not have any major deficits arising."