At a recent meeting with Meat Industry Ireland (MII), IFA called for all meat processors to offer Electronic Funds Transfer (EFT) as a method of payment to farmers for cattle and sheep sales.
IFA President Tim Cullinan has written to all MII requesting all its members offer the EFT facility to farmers selling animals.
“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’s imperative and long overdue that EFT is offered by all meat processors, 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,” said Brendan Golden.
IFA National Sheep Chairman Sean Dennehy said it’s 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,” concluded Sean Dennehy.