ATM

The Deutsche Bundesbank explores the availability and reachability of cash withdrawal facilities in Germany, highlighting the challenges and trends in maintaining a robust cash infrastructure. Ensuring access to cash is crucial for maintaining financial inclusion and providing a reliable fallback during crises.

Post-pandemic, UK cash withdrawals have stabilized, but Nationwide Building Society saw a 10% increase in ATM usage in 2024. This rise is due to bank branch closures and the cost of living crisis, pushing more people to budget with cash. Nationwide's extensive branch network supports this trend. The British Retail Consortium reports a two-year increase in cash transactions, highlighting cash's importance in budgeting despite the prevalence of card payments.

Domestic ATM cash withdrawals are subject to interchange fees, which are designed to compensate ATM deployers for operational costs. These fees have remained largely unchanged for years, in spite of rising operational costs. This divergence poses a threat to the sustainability of ATM networks.

CashEssentials will be hosting a seminar on the Future of Cash at the ATMIA Europe and Emerging Markets Conference in London on 10 October 2024. It will focus on understanding the changing cash environment and what stakeholders are doing to optimise the cash cycle and ensure the future viability and sustainability of cash.

Visa and Mastercard will pay $197 million to settle a case brought by millions of consumers who withdrew cash from ATMs and accused the companies of anti-competitive behaviour.

A recent IMF paper suggests that ATM cash withdrawals are better indicators of the use of cash for payments than the traditional metric of currency in circulation. However, the reasoning is somewhat biased and includes unconvincing arguments.

According to the FDIC, 81.5% of U.S. households were banked in 2021. ATMs and bank branches remain essential for seniors, lower-income, less-educated, and rural families to access financial services.

Elsewhere on the Web provides weekly updates and links to articles related to cash, money, and payments curated on the web.

Elsewhere on the Web provides weekly updates and links to articles related to cash, money and payments curated on the web.

Elsewhere on the Web provides links to articles on cash, money, and retail payments.

Prosegur Cash and Armaguard Group announce a merger deal agreement to create a sustainable and secure Australian cash in transit business.

Just three days after making the announcement, AIB scraps its decision to remove cash services from a third of its branches, following significant backlash from consumers, business owners, farmers and politicians.