Friday, December 1, 2023
3.2 C
HomeBeefOne of MII’s members to offer EFT 'a positive move’  
Catherina Cunnane
Catherina Cunnane
Catherina Cunnane hails from a sixth-generation drystock and specialised pedigree suckler enterprise in Co. Mayo. She currently holds the positions of editor and general manager at That's Farming, having joined the firm during its start-up phase in 2015.
Reading Time: 2 minutes

One of MII’s members to offer EFT ‘a positive move’  

IFA president, Tim Cullinan, has said he has written to MII requesting all its members to offer the EFT facility to farmers selling animals.

At a recent meeting with Meat Industry Ireland (MII), the farm group called for all meat processors to offer EFT as a payment method to farmers for cattle and sheep sales.

“The recent announcement that one of MII’s members will offer EFT is a positive move, and we are now requesting that all other processors provide the same facility,” he said.

IFA national livestock chairman Brendan Golden said it is imperative and long overdue that all meat processors offer EFT, citing the COVID-19 pandemic as an example of why we need to move forward with this.

“ICOS recently outlined to IFA that almost all of its marts are offering the option of EFT, when requested. Farmers have grown accustomed to EFT and now fully appreciate its speed and convenience.”

Alternative to the cheque payment process

IFA national sheep chairman, Sean Dennehy, said it is an “opportune time” to provide an alternative to the cheque payment process and its associated delays relating to postage, lodgement, and clearance.

“Moreover, lodging cheques will become more difficult with the imminent exit of Ulster Bank and the closure of more than 70 rural Bank of Ireland branches.”

Banking services

Recently, the farm group warned that the exit of Ulster Bank and branch closures announced by Bank of Ireland will lead to a further contraction of banking services in rural Ireland.

“Farmers simply won’t have the facility to lodge cheques because they won’t have a bank in their community. The absence of an EFT arrangement will put farmers, who don’t have easy access to lodgement facilities, at a disadvantage.”

“For cashflow reasons, farmers shouldn’t have to wait for cheques to clear. We expect everybody who does business to upgrade their systems as soon as possible.”

- Advertisment -

Most Popular