Written answer
Financial Services
Businesses may refuse cash if they specify another payment method; EU negotiations seek mandatory euro-cash acceptance, subject to limited exceptions.
175. Deputy Séamus McGrath asked the Tánaiste and Minister for Finance the position regarding retailers, vendors and event organisers refusing to accept cash for payment (details supplied) [66140/26]
Comment on this
Published by Government in October 2024, the National Payments Strategy (NPS) acknowledges that cash continues to play an important role as a means of payment and a store of value for many people in Ireland. The NPS also recognises the importance of protecting access to cash, and the acceptance of, cash for those who choose to use it.
At present in Ireland, a business must accept cash as legal tender when offered by a customer to settle a debt which has arisen, where it places no restrictions on the means of payment it is prepared to accept. However, where a business specifies payment must be in a form other than cash, such as through the display of ‘no cash’ signs, the customer cannot claim a legal right to pay in cash.
There are limitations to any domestic action the Government may take in legislating for stricter cash acceptance, with the ability to propose legislation for euro cash acceptance exclusively being a European Commission competency.
On 28 June 2023, the European Commission published a proposal for a Regulation on the legal tender of banknotes and coins. The Regulation aims to protect European citizens’ right to pay with euro cash by introducing a general obligation of mandatory cash acceptance across the euro area, and prohibiting the use of ‘no-cash’ or ‘card payments only’ signs.
The proposal is progressing as part of the Single Currency Package, with the European Council and European Parliament having finalised their respective positions on the Package. Trilogue negotiations between the co-legislators began in July under the Irish Presidency of the Council of the EU.
The regulation will allow for a limited number of exceptions to the general obligation of mandatory cash acceptance, such as if the refusal is made in good faith (for example, if the payee does not have the denominated change required to give the payer) or if both parties agree to use an alternative payment method.
However, the final details of the Package are subject to finalisation as part of the trilogue negotiation process.