I propose to take Questions Nos. 225 and 242 together.
On 28 June 2023, the European Commission published the proposal for a regulation of euro banknotes and coins as part of the Single Currency Package. 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. The regulation will also place an obligation on Member States to monitor and assess access to cash on an annual basis.
The proposal is progressing as part of the Single Currency Package, with the Danish Presidency reaching Council agreement on the package in December 2025. The European Parliament is finalising its position on the proposals, with trilogue negotiations expected to begin later this year under the Irish EU Council Presidency.
At present in Ireland, businesses are legally permitted to limit how they accept payments by displaying signs such as ‘no cash’ or ‘card payments only’. The mandate agreed at Council will prevent retailers or service providers from refusing cash as a form of payment, where they offer goods and services in public premises and the consumer is physically present.
The regulation will allow for 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. The Council mandate also provides an exception for unmanned points of sale.
In addition to this, the Council mandate also recognises that it should be possible for companies such as utility providers, who receive large payments on an infrequent basis, to exclude cash as a means of payment through pre agreed written contractual terms with the payer.
However the final details of the package have yet to be finalised and are subject to change during trilogue negotiations.
The provisions of the legal tender regulation will be without prejudice to existing anti-money laundering rules covered by the EU Anti-Money Laundering Regulation, allowing for refusals of cash in situations where sufficient AML requirements cannot be satisfied.
