Belgian banks will add hundreds of extra ATMs in the coming years to ensure the accessibility and availability of cash. The Belgian government and Febelfin, the umbrella organization of Belgian banks, have reached an agreement on this.
In order to ensure that cash remains easily accessible, the location and geographical distribution of ATMs in particular was considered. The banks will add 287 extra ATMs in the coming years compared to the original plans for 2025. Of the additional ATMs, 207 will be placed in additional locations to ensure accessibility. Also, each municipality will have at least one ATM.
The remaining 80 ATMs will be added to increase availability. These ATMs will mainly appear in cities and should reduce queues.
The placement of the ATMs should take place between now and the end of 2025. "Cash is and will remain an important means of payment," Febelfin said. Of all payments in Belgium, 45 per cent are made in cash.
This new turn of events is very surprising. The first ATMs were installed 55 years ago. Back then, there were very few. People were used to pay everything in cash. They would go to the bank counter, withdraw cash and pay all their expenses with the notes and coins. Cheques and transfer forms were used only occasionally, mostly in business.
In 2015, there were 8,750 ATMs in Belgium. In 2019, this number had already dropped to 7,460. By the end of 2021, there were only 5,441 and by the end of 2022 barely 4,000.
That banks are now going to put ATMs back anyway is welcome news and in a way also confirms that banks want to keep notes and coins in circulation as a means of payment.
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