Banks begin phasing out ATMs amid cashless transition
The reduction in the number of ATMs is not limited to a single country. Similar changes in access to cash are observed in the Czech Republic, Poland, and Germany, related to the growing interest in cashless payments. In response to this trend, banks are adjusting their strategies.
The iDNES.cz portal reports that in the Czech Republic, the number of ATMs has decreased from 5,721 in 2021 to 5,434 currently. This decline indicates that the increasing popularity of cashless payments is prompting banks to invest in mobile technologies, which reduces their need to maintain a large number of ATMs.
For those attached to traditional forms of payment, this situation may be disadvantageous. Poland is experiencing a similar trend. According to the National Bank of Poland, at the end of September 2024, there were 20,939 ATMs in the country.
"In the third quarter of 2024, this number decreased by 221 devices (a 1 percent decrease), primarily due to the removal of ATMs launched during the holiday period in tourist locations. The network of deposit machines included 11,813 devices, which is 525 more than at the end of June 2024 (a 2.2 percent increase)," the NBP's quarterly report states.
Fewer and fewer ATMs
The trend of a decreasing number of ATMs is also evident in Germany. In 2023, "Deutsche Welle" reported that there are 51,800 ATMs, compared to 61,100 in 2015. This clearly indicates a downward trend.
EU regulations have introduced limits on cash payments, setting the maximum transaction amount at 10,000 euros. Any payment over 3,000 euros requires mandatory customer identity verification. The aim of these actions is to counteract money laundering.
