Irish financial institutions have seen a huge reduction in the use of cash and cheque payments among consumers, in a move toward mobile and online banking. The exception to this rule is reportedly from within the farming community, but this is slowly starting to change. IFA farm business chair Rose Mary McDonagh says the benefits of online banking, especially in the current COVID-19 climate, far outweigh any negatives.
“Farmers should definitely look into online banking options,” she says. “It’s very convenient, cost effective and – especially now – it just makes sense. You may need to be more conscious of your paperwork (marking invoices as paid, etc) but overall, I would encourage it. Always ensure you keep your account information private to avoid scams; never tell anyone your pins or passwords.”