Party Calls on Central Bank to Guarantee Cash Availability
With some criticism of a commercial bank for shutting down cash services in a western Estonian town, the IRL Parliamentary faction has submitted a bill that would make it the duty of the central bank to order banks to ensure that cash is available.
"The right of the central bank to require banks to ensure availability of cash would motivate banks to create a shared ATM network that would do away with redundant and overlapping ATMs in cities. This would allow new ATMs to be opened in smaller towns where cash was not available," said IRL faction head Helir-Valdor Seeder.
"For instance, banks in Finland have created a common network of ATMs, thanks to which there are ATMs even in thinly populated riural areas."
Swedbank's decision to pull cash services at its branch in Haapsalu, citing economic reasons, precipitated the controversy.