For several years there has been talk and debate about whether we are on the way to a cashless society and who or who would benefit or be disadvantaged if this were the case.
At the same time have The Authority for Community Protection and Preparedness (MSB) reiterated the importance of having cash at home in the event of a crisis or war.
But how has the development actually looked when it comes to Swedes’ ability to withdraw cash via ATMs?
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Many ATMs have disappeared
For several years have The Riksbank kept statistics which affects cash withdrawals in Sweden. This shows that the number of ATMs in the country decreased from 3,416 to 2,128 between 2012 and 2022, which is the latest year for which figures are available.
During the same ten-year period, they have gone from 214 million transactions in the ATMs to only 57 million.
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Bankomat AB provides 1,300 ATMs
A large proportion of ATMs in Sweden are provided by Bankomat AB, which is owned by Handelsbanken, Danske Bank, SEB, Nordea and Swedbank with Sparbankerna.
– According to law, six of Sweden’s largest banks must ensure that people do not have too far from their home to the nearest place to withdraw cash. The ATM helps the banks meet the legal requirement. In addition, we like to place machines where people use cash and in safe environments with a lot of people in motion, which makes shopping centers, for example, suitable locations, explains Jenny DanielssonPR and communications manager at Bankomat AB, for News24.
In total, Bankomat AB has just under 1,300 ATMs around Sweden. However, there will be fewer in the future.
– All in all, we expect to both install and remove vending machines in the next few years, but the total number will decrease, says Danielsson.
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“Cash is also necessary”
Even if people, to a greater extent than before, choose to pay digitally, rather than with cash, the ATMs still fulfill an important function, according to Danielsson.
– Basically, it’s about people being able to choose how they want to pay. But cash is also necessary for people in digital exclusion and so that society does not become too vulnerable in a crisis situation when digital payment methods can be eliminated, she says.
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