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ATM, cash use on decline, one banker says
March 25, 2008
Fort Wayne (Ind.) Journal Gazette: Consumers are carrying less cash than they used to, relying more on credit and debit cards instead, say some industry sources. And, when people do need some old-fashioned currency, they're just as likely to use their debit cards to get cash back when they shop. The change in buying habits has had a domino effect, halting the steady expansion of ATM placements, says Jim Beck, chief executive of Raleigh, N.C.-based TrustAtlantic Bank. Community banks with fewer branches have long been at a competitive disadvantage when competing with industry behemoths that tout their nationwide network of thousands of ATMs. Now that competitive edge isn't as sharp, he said.
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