The Central Bank confirmed they plan to introduce a new system that will see more banks dispensing more €10 and €20 notes from their ATM machines.
The Central Bank say they hope to make lower denomination notes made available from ATMs across the country by 2018.
It is understood the change comes after a recent consumer study found that people are more likely to use €10 and €20 notes on a daily basis instead of the standard €50 note.
The move was revealed by the Finance Minister Michael Noonan who said the system will be implemented as part of the National Payments Plan, which aims to make savings of €1 billion annually to the Irish economy.