Banks to slash number of ATMs

Belgium’s four big high-street banks intend to halve the number of cashpoints on our streets by 2025.  At the same time the banks have pledged to improve the spread of ATMs.

KBC, BNP Paribas Fortis, Belfius and ING will in future co-ordinate their rollout of ATMs.  Six new cashpoints that are visually no longer linked to a particular bank have already appeared on the streets of Ghent an Aalst (East Flanders).  In future ATMs will no longer all be located outside a branch but will be situated in busy areas like shopping malls and stations.

The banks say greater use of electronic payments means we need less cash.  Banking matters are today often sorted on your mobile meaning the banks are closing yet more branches too.  The present spread of ATMs is not ideal.  82% of cashpoints are located at within 1km of another ATM. 

2,200 ‘bank neutral’ ATMs will appear by 2025.  At present high-street banks operate around 5,000 cashpoints. Under the plan 98.79% of the population will have an ATM within 5km from their home.

The new ATMs will operate under the brand Bancontact.  Some will still appear in bank lobbies, though others will be freestanding.

Top stories