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When can you not withdraw from an ATM? Here is the history

It seems that the context of “Bancomat” is undergoing a major transformation: the term “spread” in our country starting in the eighties, which is also why the word “ATM” is associated with electronic payments but also with withdrawals. Since this is a form of management and “movement” of funds using traceable systems, the preference is for the Italian state, which has always been committed to defeating deep-rooted and notorious problems such as tax evasion and money laundering. The process of withdrawal, now known to practically everyone, could soon become something “outdated”.

When can you not withdraw from an ATM? Here is the history

This is because the complex system behind all electronic money “does not favor” the cash system, so the sense of constant withdrawals seems like a kind of “missed priority.” Fewer and fewer banks across Europe are investing as much money as possible in digitization to advance the concept of home bankingalso because the current context provides for the phasing out of physical banks, which are usually deeply rooted throughout the territory but have been in decline for years.

Important credit institutions such as Banca BPER and ING have already started a policy of liquidating branches and ATMs for some time, and ING has already stopped physical activity in Italy since 2021 to focus exclusively on digital services, in fact customers must necessarily withdraw cash at other ATMs automated.

Even the concept of an interchange fee, i.e. a “flat rate” that is specifically applied when withdrawing from non- “owned” banks is destined to change: Bancomat SpA has in fact applied for the abolition of this fixed fee, which is currently equal to the rate of 49 cents, because this amount Too low for cost management.

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In general, however, we will have to get used to not using the ATM much, compared to the current environment.