Crédit Mutuel-CIC, BNP Paribas and Société Générale will pool their ATMs.
The three banking establishments will begin the implementation of a project decided in October 2021 and which should concern a total of 15,000 ATMs installed across France.
Joint distributors from the end of 2023
The French are increasingly using dematerialized payment, as shown by the explosion of online payments in the country. And yet, cash remains essential, if only because it allows, as the ECB reminds us, to preserve privacy.
Fortunately, cash dispensers aren’t expected to disappear anytime soon. The system should even become more practical with the new “Cash services” structure that the banks BNP Paribas, Société Générale and Crédit Mutuel-CIC are going to set up. The latter have indeed decided to pool their machines. The project will start in the last quarter of 2023 and should be fully deployed by the end of 2025.
It is the joint company 2SF (Société des Services Fiduciaires) which will pilot the operation intended, according to the partners, to ” sustainably perpetuate the self-service banking to which the French are attached, in both urban and rural areas “.
Lower costs for users
The savings should be there. Banks, by pooling their ATMs, will be able to reduce their number, even if no machine should be removed in rural areas or in isolated localities. By reducing the number of ATMs on the territory, there are less maintenance or supply costs for the partners.
But the consumer should also be a winner. With common distributors, he will be less subject to the so-called “displaced” withdrawal costs, the famous euros charged in addition by your bank when you take money from a competitor’s machine. When we know that the average cost of this type of withdrawal had, according to Panorabanksincreased by 6.25% between 2022 and 2023, to 12.75 euros, this new measure is also an extra ticket in the customer’s pocket!
Source : BFM TV
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