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Dutch banks join forces to maintain cash access

Categories : Cash is efficient
June 19, 2017
Tags : ATMs, Availability, collaboration, Europe
Three major banks launched an initiative to establish a single ATM network to be operated by an external company. The aim is to ensure a safe and easy access to cash across the country.
Communication Team / Equipo de Comunicación
Contactless payment instruments have been largely adopted in northern European countries. Unfortunately, this has resulted in many closures of local banks and ATMs in order to save costs and invest more in digital innovation. In the Netherlands, for example, banks have started removing cash machines from disadvantaged neighbourhoods in an effort to reduce criminality.
Nevertheless, studies conducted in Holland demonstrate that Dutch consumers are still attached to cash and would like to keep the option to pay with paper money. In addition, respondents expressed a desire to have better access to cash. As a result, Dutch banks ABN Amro, ING and Rabobank came up with the idea of creating a joint ATM network to save costs while maintaining banknotes accessible to their customers. The new network would be operated and owned by Geldservice Nederland – a joint venture set up by the three banks in 2011 to provide logistics services including cash collection and distribution. The initiative is backed by De Nederlandsche Bank and would help maintain high coverage of the ATM network in the country, currently at 99.67%. A partnership agreement should be signed by the end of the year. 
The project also aims to provide customers with a safer and enhanced network ensuring identical services for all users. Indeed, consumers will be able to use the closest ATM regardless of their bank, and access similar functions and services, for example regarding cash deposits or cash withdrawal limitations. Such a system is already in place in Sweden and may well be implemented in Switzerland and in the UK.