Economy

How to withdraw money now

With the term Bancomat, we usually refer to both the ATM used to withdraw cash (but not limited to), but also any related operation, which can be carried out through a magnetic card: with the proliferation of debit cards and prepaid cards, in addition to becoming Automated teller machines themselves are a stage of profound change that is increasingly evident, which has led to liquid money being considered “obsolete”.

gradual declines

The number of ATMs in our country has experienced a sharp decline for about a decade and the numbers testify to this: from 2016 to 2020 there was a decrease of 6.9%, that is, it went from 36,754 to 34,204 units, which is an equal decrease. Most importantly with regard to bank branches, which fell by about 20% in the same period.

The motive is very simple, in terms of costs: for most credit institutions it is no longer convenient to remain “physically” active in the region, in the face of the increasingly significant increase in banking operations that can be carried out independently, especially through operations home banking.

An official farewell to all ATMs: How are you withdrawing money now?

This is also partly due to the ever-decreasing use of cash to make it less necessary to withdraw, especially with regard to large amounts: the withdrawal limit and cash payments have been gradually reduced almost every year (currently it is 2000 Eurobut in 2023 it will be halved), which means fewer ATMs due to less need than in the past.

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It is quite possible that the traditional group farewell is not so close but seems less and less “weird”, but rather a natural consequence of a process that began several years ago.

This will lead to a possible increase in commission costs during withdrawals, for the same reason that led to the gradual closing of branches, that is, costs, which are too high for banking institutions.

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

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