Spain reduces the number of ATMs to the 2002 level, since the country is transferring to digital payments - messages

The number of ATMs in Spain is increasingly shrinking to the state's level in 2002. Reports of local media indicate that these measures have been taken to reduce the costs and to advance the digitization of payment transactions and operations in the industry. The highest number of ATMs was registered in 2008 when there were 61,714 active machines on the net.

Banks in Spain reduce ATMs

The number of ATMs in Spain has dropped to the lowest level since 2002 when the network had 1,795 ATMs more than today. According to a current Test report From the Bank of Spain at the end of the third quarter 2021 over 48,081 ATMs. This decline has to do with experiments to reduce costs in the banking sector in view of the digitization of payment transactions and banking processes.

The highest number of ATMs online was registered in 2008 when 61,714 ATMs were registered in the country. Since then, banks have gradually removed machines from this network. According to the same report, however, the workload of the remaining ATMs has increased. In the third quarter of 2021 alone, Spaniards made 171,300 withdrawals to ATMs, an increase of 1.04% compared to the same period in 2020.

The thrust for digitization

The Spanish government has reduced the amount of money that can be paid out in cash per transaction. Last year Spain Some questions regarding cryptocurrency plants also ruled, the controls for cash payments carried out depending on the type of transaction. The above -mentioned law provided that cash payments may only be made up to a limit of € 1,000. The bypass of this law could lead to sanctions of 25 % of the payments made that would be paid by each transaction party.

The latest move has led more and more residents of the country to digital payments. For example, the national survey on cash payment in July 2021, found that only 35 % of the citizens surveyed pay with cash. This represents a significant change compared to payment in 2014 when 80 % of the citizens used cash as a means of payment.

Although the cash consumption has decreased, Spain still uses more cash for payments than countries like Sweden, where less More than 10 % of the population use physical paper and coins.

What do you think of reducing the ATMs and the pressure on digital payments in Spain? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game when he entered the cryptosphere in December 2017. He has a computer engineering background, lives in Venezuela and is affected by the cryptocurrency boom at the social level via crypto success and how it helps the non-banks and under-sector.

Bedy verification : Shutterstock, Pixabay, Wiki Commons