Money Cash withdrawals have increased in recent days – “Growth is exceptional compared to last year”

Cash withdrawals the number in Finland has increased over the past week.

The matter is reported to HS by, among others, Automatia, which maintains the ATM network, and OP.

“In general, we have seen a positive development in transaction volumes in recent days,” says Automation’s CEO Marko Kolehmainen.

Cash withdrawals have been about ten percent higher in the last week than at the same time a year ago, Kolehmainen says.

According to Kolehmainen, it is difficult to assess whether the withdrawal of cash is due to the war in Ukraine or the removal of interest rate restrictions.

“The increase in the number of transactions is exceptional compared to last year’s situation, but no conclusions can yet be drawn about the reason,” says Kolehmainen.

According to Kolehmainen, there is also no noticeable change in the extent to which cash withdrawals are made with cards from domestic or foreign banks.

Also OP has seen an increase in cash withdrawals over the past week.

“There is a small amount of preparation. A small customer base has raised higher-than-usual cash withdrawals from branches, ”says OP’s Head of Payments and Cash Business. Katariina Säntti.

On the vending machine side, the volume of withdrawals in euros has also increased slightly in recent days. According to the rule, in recent days, about three percent more money has been withdrawn from vending machines than at the beginning of February.

“Monitoring the use of cash is one aspect of monitoring the development of the crisis. It is very calm at the moment, ”says Säntti.

Cash withdrawals the number has been declining for years, Kolehmainen says.

According to Automation, the company has the capacity to maintain a much higher level of money distribution at the moment.

“We have been operating vending machines for more than 25 years, and transaction volumes have been significantly higher in the past. If the volumes turn in a more positive direction, we are ready for increasing transaction volumes, ”says Kolehmainen.