Banks are to begin issuing €10 notes at ATM's to take account of customers on tighter budgets.

At the moment most cash dispensing machines in Ireland are restricted to €20 and €50 notes, compared to €5 and €10 notes which are the norm in Europe.

Its been suggested the lower denominations are not available as they wear out more quickly due to a greater frequency of circulation.

In September 2011, there were approximately 2 billion €10 banknotes in circulation around the Eurozone, that's nearly 14 billion less than the 15 billion €20 notes that are knocking around.

The initiative will be introduced on a trial basis later this year.