• Despite the advance of digital payments in Spain, the use of cash is still a common practice among citizens.

• In 2024, the amount withdrawn at ATMs reached 127,485.90 million euros, an all-time record and 2.08% more than in 2023.

• However, the number of transactions fell by 1.45% compared to the previous year, while the average amount per withdrawal increased to 186.5 euros. This trend responds to the progressive disappearance of ATMs, which forces users to space out their visits but to withdraw more money in each transaction.

By quarter, cash withdrawals amounted to 29,471.96 million euros in the first quarter, 32,397.61 million euros in the second, 32,047.26 million euros in the third and 33,569.07 million euros in the fourth. This pattern shows that, despite the difficulties of access to cash, citizens continue to opt for it over other payment methods.

From 2008 to 2023, 18,451 ATMs disappeared in Spain, leaving 43,263 operational in 2023. Meanwhile, digital payment methods have continued to expand. The number of payment terminals (POS) increased by 38% to 2.5 million, and debit and credit cards grew by 16% to 91.52 million. In addition, the Bizum application, with more than 28 million users, recorded 35 transactions per second.

Faced with the increasing difficulty of accessing cash, the Denaria platform insists on the need to guarantee its availability. In July, it proposed the creation of a National Cash Security System within the Draft Bill on Industry and Strategic Autonomy. Its measures include the installation of cash machines in tobacconists and pharmacies, the regulation of a maximum distance between ATMs, the promotion of free white-label ATMs, the elimination of the 1,000 euro limit for cash payments and the end of official recommendations to pay by transfer. Denaria recalls that the General Law for the Defence of Consumers and Users makes it compulsory to accept cash in all payments.

While the use of cash persists, digitalisation continues to advance with initiatives such as the digital euro, promoted by the European Central Bank. Despite the expansion of electronic payments and reduced access to ATMs, data show that Spaniards are reluctant to abandon cash due to several factors. On the one hand, spending control is a key reason, as it allows citizens to better manage their budget without relying on cards or banking applications. There is also a mistrust of digital payments, as although online banking and cards are becoming more common, some users feel that physical cash offers greater security. Moreover, financial exclusion remains a problem in Spain, as not everyone has easy access to bank accounts or electronic payment methods, making cash their only viable option in many cases.

Denaria calls on governments and financial institutions to strengthen cash access infrastructures and prevent distance to ATMs from becoming an obstacle to their use.

Source: ABC, Economía Digital, Europa Press, Infobae, El Español, Diario de Sevilla, Capital.es, Investing, MSN