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Will Ireland be Cashless?





The latest data from the Central Bank shows that ATM withdrawals by Irish residents fell by 40% in 2020 compared to the previous year. The data also revealed that the value of ATM withdrawals fell by 32% from the previous year to €14.7bn in 2020.

Interestingly, the average amount per withdrawal increased by 14% from €139.63 in 2019 to €158.74 in 2020. We made fewer withdrawals, but when we did take out cash, we took out more.

The big question is whether or not this trend will continue as the physical economy begins to open up again.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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The debate

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