STRATEGIC PARTNERS
June 9, 2017
ABN AMRO Bank, ING, Rabobank and Geldservice Nederland recently announced a collaboration to explore initiatives aimed at ensuring the continued availability of ATMs in the Netherlands.
Geldservice Nederland was set up in 2011 as a joint venture between the three banks to provide logistical services such as cash collection, counting and distribution. The intention is to transfer the ownership and operation of ATMs of the participating banks to GSN, according to a press release.
Recent years have seen a decline in the use of cash as a payment method in the Netherlands. In 2015, the number of cashless transactions outnumbered cash payments for the first time, according to the release. Though digital transactions will likely become the norm in the Netherlands, market research suggests that the majority of consumers wish to retain the option of paying in cash.
The initiative would aim to ensure that banknotes remain readily available to consumers in a safe, secure and affordable manner. In a collaborative solution, the banks would jointly invest in security, while removing surplus ATMs and placing new machines in underserved locations.
One possibility being explored is the development of a dedicated brand for ATMs in the Netherlands. This would benefit consumers by allowing them to use the closest ATM regardless of their home bank. Additionally, new ATMs could provide similar services — such as bank balance access and uniform cash withdrawal limits —for customers of all banks.
As of 2016, ATM network coverage in the Netherlands was 99.67 percent. The initiative would aim to maintain or increase this level of coverage, the release said.
Under the current schedule, a partnership agreement will be signed during the third quarter of 2017. The collaborative is currently examining the possibility of involving other banks in the initiative, as well.
