Finance Minister John O'Dowd recently convened a roundtable discussion at Stormont to address the pressing issue of access to cash and essential banking services across Northern Ireland.

Following the meeting, Minister O'Dowd emphasised the importance of the discussions: "I welcomed the opportunity today to bring together a broad range of key stakeholders to discuss the issues and developments most central to accessing cash here."

The Minister stressed the necessity of the banking sector maintaining access to both cash and essential services within local communities, highlighting the disproportionate impact of closures on certain groups. "I pressed on the sector the importance of maintaining access to cash and essential banking services in our local communities, especially for our most vulnerable citizens who need in-person advice and services, as well as our small businesses and community and voluntary groups." Attendees at the roundtable included representatives from the banking and finance industry, trade unions, business organisations, and consumer and community advocates. Key topics covered during the session ranged from the new Access to Cash rules and the establishment of banking hubs to various community outreach activities and digital inclusion strategies.

The Minister acknowledged the dramatic structural shift witnessed in the sector: "Over the past decade, almost two out of every three traditional bank branches in our communities have closed or are planning to close. That represents a significant change to the social fabric of our towns and villages – particularly for our many rural citizens."

In a commitment to immediate follow-up, Minister O'Dowd announced that his officials would promptly begin compiling a report based on the issues raised by the stakeholders. "Following today's roundtable, my officials will immediately begin drafting a report highlighting the key issues raised by stakeholders. This will be submitted to Treasury and the regulatory authorities seeking action."

He concluded by underscoring the need for tailored solutions: "It is important we find local solutions to local issues and continue to work to enact change."