Swiss Post wants to save cash with a standardized ATM network
Published: Saturday, May 25th 2024, 11:30
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Swiss Post wants to merge all post and ATMs in Switzerland into a uniform network. According to Swiss Post, it hopes that this measure will enable it to continue to guarantee the supply of cash in Switzerland.
To this end, "the cash business" within the Swiss Post Group must first be transferred from Postfinance to Swiss Post, reported "Schweiz am Wochenende" on Saturday. This would ensure quality, security and high availability from a single source in future, Swiss Post confirmed in response to an inquiry from the Keystone-SDA news agency. The Postfinance Board of Directors will decide in the course of this year whether an internal transfer will take place.
According to Swiss Post, it is currently discussing the idea of a joint ATM network with the heads of Swiss banks. The proposal has met with interest, it added.
The entire banking customer base in Switzerland could benefit from such a network, the head of the post office network, Thomas Baur, told the newspaper. Customers would no longer have to think about where "their" nearest ATM is located. This would break with the current practice of financial institutions charging each other fees.
It has been apparent for some time that cash is becoming less important as a means of payment. Before the outbreak of the coronavirus pandemic in early 2020, there were around 7,200 ATMs in Switzerland. Today, there are still 6120, as figures from the Swiss National Bank (SNB) show.
©Keystone/SDA
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