THE CASH CHANGEOVER

How will the changeover to euro cash work?
On 1 January 2002 accounts in banks, building societies, post offices and credit unions will be converted to euro free of charge. From then on, cash going out will be in euro, and incoming Irish notes and coins will be kept and not issued outwards again.

So from 1 January 2002 (e-day)

Withdrawals from accounts will be in euro

ATMs (cash dispensers) will begin dispensing euro notes

Wages, salaries, pensions and social welfare payments will be in euro

Shops will charge in euro. They will accept Irish notes and coins as well as euro but will give change in euro only

Banks and building societies will exchange up to an overall total per individual of at least £500 worth of Irish notes and coins for euro, free of charge; and will accept Irish notes and coins in customer lodgements

Post offices will exchange up to an overall total per individual of £500 worth of Irish notes and coins for euro, free of charge; and will accept Irish notes and coins in customer lodgements

Credit unions will, where feasible, exchange, for members, up to an overall total of £500 worth per member of Irish notes and coins for euro free of charge; and will accept Irish notes and coins in lodgements from members

All parts of the public sector, including Government Departments and offices, local authorities, health boards and State-sponsored bodies, will make and accept payment in euro. Payment in Irish notes and coins will be accepted but any change will be given in euro only.

How long will the cash changeover take?
The bulk of cash transactions are expected to be in euro by the end of two weeks after €-day. However, retailers will still accept Irish notes and coins up to and including Saturday 9 February 2002. After that, Irish notes and coins will no longer be legal tender, which means that they will no longer have to be accepted in payment.

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