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ATMs destroy money. New cars are paid extra. Will customers pay for it?

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In the coming months, banks will have to replace some of their ATMs with newer machines that, if attempted to be stolen, soil money, rendering it unusable. This means big costs for banks. Will they pass it on to customers?

Regulations will soon come into effect requiring ATMs that do not have 24/7 physical security to be equipped with Intelligent Banknote Neutralization Systems (IBNS). These systems are activated in the event of a robbery or theft of money from an ATM and color banknotes – usually red, purple or green. Banknotes with stains are successively withdrawn from cash circulation.

Neutralization system, i.e. banknote coloring

Security considerations speak in favor of this solution. You just need to keep in mind that the introduction of IBNS systems will increase the cost of servicing and maintaining ATMs. Banks will also be charged additional transaction costs for replacing stained banknotes.

– According to NBP, over 21,000 ATMs were operating in Poland at the end of June. According to the legislation on the “coloring” of banknotes with new security systems should be covered by about 40 percent. of them, which means that almost 8,500 devices are waiting for a major upgrade. The cost of adapting machines to new requirements can reach 30-40 percent. The value of an ATM or machine for depositing cash. Taking into account the costs and time, adapting the sector to regulatory requirements seems almost impossible, says Tomasz Rokita, board member of Diebold Nixdorf in Poland.

Will banking services rise in price?

The need to upgrade hundreds of ATMs by the end of September 2023 could severely disrupt access to cash and increase the costs of maintaining the devices and paper money in circulation. Will banks pass this cost on to customers in the form of higher service fees? This cannot be excluded, since individual banks incur costs from time to time for various “operations” in their branches. At the moment, no bank provides a fee for using an ATM, and this should not change.

Banks encourage customers to “deal” with simple issues related to deposits and withdrawals on their own. A typical picture is a situation in which a customer approaches a cash window, and a bank employee leads him to an ATM and shows how to work with this device so that the customer deposits cash in the future without the participation of the operator. assistant. This is in line with the general trend of reducing employment in bank branches in order to promote online banking. What is cheaper for the bank.

In the context of ATMs, it should be remembered that although the use of ATMs belonging to this network is free, withdrawing money from a “foreign” ATM can mean a commission of several zlotys or a percentage of the withdrawn amount.

56 percent of Poles use online banking

Analysts at the Polish Economic Institute note that the percentage of people using online banking is growing every year. Perhaps this is due to the desire of customers to avoid some commissions.

In Poland, over the past 15 years, there has been a three-fold increase, – analysts write in the latest issue of Tygodnik Gosdarchi PIE. For comparison: in 2007, 13% of electronic bank users were people. Last year, the number of people using online banking in Poland reached 56%. This percentage was 4 percent. lower than the EU average (60%), he explained.

Designed by: Martina Koska
Source: WPROST.pl

Source: Wprost

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