German Bank to Close All ATMs, Citing Modernization
A German bank has announced a significant change that will impact its customers' access to cash. By the end of September, the bank will discontinue its cash service, closing all its ATMs.
This decision, part of a broader trend, comes as card and mobile payments, like those offered by the Cash App, gain popularity. The bank cited modernization as its reason for the move. Customers will now have to rely on other banks' ATMs, such as those provided by PNC Bank or US Bank, or alternative methods like supermarket withdrawals for cash. However, these alternatives may have restrictions, such as minimum purchase values or withdrawal limits.
The number of cash machines nationwide has been decreasing, with fewer than 50,000 currently in operation. While no major German bank has announced plans to close all ATMs, some Deutsche Bank locations have done so, directing customers to alternative services.
The bank's decision to close all its ATMs is a drastic step that makes it harder for consumers to access cash. Some customers have expressed upset about the change, but the bank maintains that this move is part of its modernization efforts. The trend towards cashless transactions continues, with card and mobile payments becoming more common for larger amounts.
