ATM closures are increasingly on the rise. A phenomenon that affects consumers not a little, who have to deal with heavy consequences
The decrease more and more consistent of ATM is now there for all to see. There crisis generated by the covid, has led to the closure of many branches and also of several branches where withdrawals can be made money.
The numbers in this sense speak for themselves. Atm counters e Banks decreased by 3.4% compared to 2019, with the closure of 831 branches in 2020 alone. Bank of Italy has released some rather alarming data from this point of view, just think that in our country there is a bank for every 2522 inhabitants and in 2802 municipalities there is no credit institution.
ATM closing: the consequences for account holders
This trend naturally has effects on customers, who are suffering not just a little from the prolonged phase of difficulty in the sector. Also in the UK the trend is the same as evidence of how the pandemic has had implications also from an economic point of view and not only with regard to health.
Returning to Italy, the two regions who are suffering more difficulty due to this trend I am the Lazio with -3.5% of branches and above all Valle d’Aosta with -6.3%.
In this way, rather uncomfortable situations arise. For example, those who want to spend cash in small towns in the shops near their home, are disadvantaged in the long run since they do not have the possibility to be able to withdraw.
Of course, the goal is also to reduce the use of cash more and more, but the process must be gradual and not drastic and compelling. The most sensational joke, however, concerns the commission costs, which inevitably will increase.
Until now, withdrawals from banks other than their own had an average cost of 0.49 cents (interchange fees). A cost that the card issuing bank pays to the bank that owns the card.ATM for the use of the service by one of its customers.
The reference bank can then decide whether to apply a fee to the account holder for making the off-site withdrawal. The interchange fee should disappear, but the banks that own ATMs are increasingly oriented towards establishing costs for withdrawals made by customers of other credit institutions.
A very clear strategy, which aims to “take” the customer, which thus will no longer have to bear these costs during the withdrawal operations.