The number of withdrawals from cash machines has decreased significantly in recent years. As a result, the number of cash machines across the country is also decreasing.
At the turn of the year 2020/2021, there were 1,570 machines. The number had decreased to 1,206 units by December 31, 2024, according to Bankomat's figures. This corresponds to a decrease of 23 percent.
"The fact that we have reduced the number of machines is because more and more people are choosing to pay digitally instead of with cash," says Johan Nilsson, marketing manager at Bankomat, in a press release.
"When the demand for cash decreases, we adapt our service accordingly. If the Swedes' use of cash does not increase, we will also continue to reduce the number of machines in the future," he continues.
On January 1, the so-called cash law came into force, which means that banks must ensure that virtually the entire Swedish population (99.7 percent) does not have more than 25 kilometers from their home to be able to withdraw cash.
Bankomat and Johan Nilsson are, however, critical of how the law works:
"The cash law's coverage requirement is extremely blunt. We have to spread out machines based on where people live, often in places with no great demand. This brings with it significant costs without leading to any other social benefit than achieving a geographical target," says Johan Nilsson.
The number of machines has decreased by 26 percent since 2017 and 23 percent since the cash law came into force on January 1, 2021.
Since 2017, the average monthly withdrawal per machine has decreased from 3,900 kronor to 2,300 kronor.
The number of withdrawals has simultaneously decreased by 63 percent from 91 million to 34 million.
