Dáil Éireann Debate, Wednesday - 19 January 2022
340. Deputy Carol Nolan asked the Minister for Finance the legal basis for cash as legal tender in Ireland; if retail businesses or service providers can refuse to accept payment in cash; and if he will make a statement on the matter. [1767/22]
View answerIn accordance with Article 128 of the Treaty on the Functioning of the European Union and with Council Regulation no 974/98 of 3 May 1998 on the introduction of the euro, euro notes and coins have the status of legal tender in euro area Member States, including Ireland.
Retail transactions are governed by contract law in Ireland and in the context of this, where a business places no restrictions on the means of payment it is prepared to accept, it must accept legal tender when offered by a customer to settle a debt that has arisen.
However, if a business specifies in advance of a transaction that payment must be in a form other than cash, the customer cannot subsequently claim a legal right to pay in cash, even if that cash is legal tender. Therefore, under certain circumstances, retail businesses or service providers can refuse to accept payment in cash.
