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ATM

Sweden second worst in EU for ATM shortage

Sweden has been ranked the second worst in the EU for its density of cash machines, with 645 of them being bricked up in the last two years alone.

Sweden second worst in EU for ATM shortage

Sweden’s ATM density is at its lowest in nine years with an average of just 3.2 cash machines per 10,000 people, the Svenska Dagbladet newspaper reported. Worst affected are the Uppsala and Östergötland regions.

In Värmland, western Sweden, pensioners staged a protest after another automatic teller machine was recently bricked up. Their actions prompted the Nordea bank to pledge to open a new ATM before the end of the year.

“The issue of cash machines has emerged as one of the most important to follow. New problems arise all the the time with banks closing branches, and the attitude to cash plays a factor, too,” Christina Rehnberg, of the county administrative board in Dalarna, told the paper.

Sweden is among the main countries leading the way for non-cash payments. Several businesses will now only accept cards while some bank branches don’t handle cash at all.

Swedish researcher Niklas Arvidsson recently wrote a report suggesting that the country could be cashless by 2030. However, he added for that to happen a complete ban on cash was likely needed.

“We have a situation where the number of withdrawals at ATMs decreases by 6-8 percent every year. We will see fewer machines, particularly in urban areas where the transition to card payments are quick. The change will be slower in rural areas,” said Stefan Bergelind, President of Bankomat AB, which operates 2,200 ATM machines in Sweden.

Cash is likely to remain a part of Swedish life for the foreseeable future with the Riksbank issuing new banknotes in 2015 and 2016 for the first time since the eighties.

The Local/pr

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MONEY

Sparkasse banks start charging own customers for withdrawals

For many foreigners new to Germany, it’s annoying enough to be charged for withdrawing cash at any ATM. But paying to take money out at your own bank seems a step too far.

Sparkasse banks start charging own customers for withdrawals
Photo: DPA

If you have an account with say Deutsche Bank in Germany and decide to take out money at a Sparkasse ATM, you can end up paying close to €5 for the service.

Given the distinct lack of ATMs on German streets and the necessity of paying with cash in many shops and restaurants, this state of affairs can lead to more than the occasional frustration.

So customers of Sparkasse banks are unlikely to be pleased to hear that many branches are charging fees of up to €0.50 to their own customers when they withdraw cash.

The finance website biallo.de reports that Sparkasse banks across Germany have started charging these fees. But because Sparkasse is a network of around 400 partly public companies, the fees vary from region to region.

The website came to the conclusion that, of the 400 companies in the Sparkasse network nationwide, over 40 of them are now charging withdrawal fees.

In Erding, a town just north of Munich, customers with “classic” current accounts can now withdraw cash twice in the month from a clerk for free, before paying a €0.29 fee. Those who withdraw at an ATM can withdraw money four times per month before they start being charged.

But that fee is relatively benign compared to other Sparkasse banks, which make customers pay for every withdrawal.

Twenty Sparkasse companies now charge customers every time they take out money. Several Sparkasse banks, including those in Rottal-Inn, Bavaria, and Grebenstein in Hesse, have started charging €0.50 for every withdrawal.

Most frustratingly for Sparkasse customers, it does not even seem clear whether they are fully alerted to the charges.

The Erding Sparkasse failed to respond to a request from biallo.de to know whether customers were warned at the ATM that they were about to be charged.

READ ALSO: 7 things that really grind your gears when you first arrive in Germany