Access to cash

Two policy shifts - mandated cash acceptance and regional bank branch levies - if adopted, could steer the cash ecosystem towards more sustainability.

The LINK scheme processes an average of 4 million cash withdrawals and balance enquiries every day and ATMs account for around 90% of cash acquisition in the UK. Here’s five things you ought to know about LINK from their just published annual report.

As the number of ATMs has significantly decreased in recent years, SIX and Diebold Nixdorf are entering into a cooperation to secure the long-term cash supply through ATM pooling. However, the Swiss Post also aims to be the sole ATM operator.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

The Cash Payments Act aims to keep cash accessible, available, and affordable in the Netherlands by mandating banks to provide essential cash services and securing continuity in cash transportation services.

Proposals from the financial services watchdog to protect and widen cash access are "a good start but could go further" argues the Federation of Small Businesses. Cash infrastructure should be considered a public good.

The Deutsche Bundesbank has established the National Cash Forum, gathering representatives of the banking industry, retail trade, consumer protection, the CIT industry, and vending machine operators to preserve cash as an efficient and widely used means of payment in a changing payment landscape.

The Riksbank calls for urgent action to strengthen cash's position and access, to guarantee financial and social inclusion, and to ensure civil preparedness. Retailers should be obliged to accept cash as payment for essential goods. Banks should be obliged to accept consumer cash deposits.

In October, Hurricane Otis caused widespread devastation in the Pacific port of Acapulco. Mexican authorities and banks launched an effective plan to restore cash access.

Cash prevails in the Palestinian economy in the form of Israeli shekels. Cross-border payments are unstable. Cash transfers will have a limited impact without humanitarian supplies to help displaced Gazans.

Cash is the most widely used and accepted payment instrument in Spain, according to a recent survey from the Banco de España. Very few people and retailers know about the digital euro.

The Australian Senate launched an official inquiry on bank closures. An online petition for a cash and banking guarantee has garnered over 128,000 supporters.