The rising financial inclusion and technological advancements in banking and other financial services has made it easier for citizens in different parts of the world to gain access to basic financial services. ATMs, Automated Teller Machines, can be found in almost every part of the world, but the quantity differs dramatic in different countries. Every person needs some amount of cash to transaction on a daily basis, and the presence of ATMs ensures easy and convenient access to cash. ATMs have been around for more than five decades now, and their relevance remains unchanged. In this article, we will take a look at the countries that have the highest number of ATMs per capita.
Definition of an ATM
An ATM is an electronic machine that dispenses cash, performs account operations such as deposits, transfers and withdrawals, sells phone cards, and provides other financial services. ATMs have become an essential part of modern banking, as customers can conveniently withdraw cash without ever entering a conventional banking hall.
Factors Influencing the Number of ATMs Available
The number of ATMs per capita will vary from one country to another, as it is impacted by several factors. These factors include:
• Population: The larger the population, the higher the number of ATMs that a country will need to meet customer needs.
• Economic Development Level: As a country develops economically, more citizens are likely to have access to financial services and the need for ATMs rises.
• Regulatory Environment: Some countries require a certain number of ATM machines to be available in order to remain compliant with regulations.
• Technology: New ATM technology can also have an effect on the number of ATMs available, as new machines can be more efficient and cost-effective than older models.
• Bank Infrastructure: The presence of numerous banks in a country can also influence the number of ATMs available, as banks generally have ATMs for their customers to access.
The Countries With The Highest Number Of ATMs Per Capita
- United States
At almost 20 ATMs per 100,000 people, the United States is the country with the highest number of ATMs per capita. With more than 416,000 ATMs in the country, this is likely due to the large population and the widespread use of ATMs. The country has some of the widest acceptance of ATMs, and also offers a wide range of banking services.
- France
France is in second place, with close to 18 ATMs per 100,000 people. France is home to over 83,000 ATMs, mostly due to the country’s large population and the extensive banking infrastructure. France also offers many different services through ATMs, such as the ability to buy train tickets, check account balances, and other features.
- United Kingdom
The UK comes in third place, with close to 14 ATMs per 100,000 people. The country has more than 70,000 ATMs, and this is thanks in large part to the UK’s highly developed banking infrastructure and its popular banking products and services.
- Germany
Germany has close to 13 ATMs per 100,000 people, and is home to over 40,000 ATMs. The presence of numerous financial institutions, especially in larger cities, has meant that ATMs are widely accessible for customers. Germany also offers several banking services through its ATMs, such as cash advances and foreign currency exchange.
- Australia
Australia has close to 12 ATMs per 100,000 people, and has over 26,000 ATMs scattered throughout the country. This is due in part to the large population, but also because of the high levels of economic development and the wide availability of banking services.
- Canada
Canada is home to over 19,000 ATMs and has close to 11 ATMs per 100,000 people. Canada’s highly developed banking infrastructure, large population, and excellent customer service are responsible for the wide availability of ATMs in the country.
- Japan
Japan has about 10 ATMs per 100,000 people, and has more than 20,000 ATMs in total. Japan is home to some of the leading financial institutions in the world, and its banking infrastructure ensures that its citizens have easy access to ATMs.
- Netherlands
The Netherlands is next on the list, with close to 10 ATMs per 100,000 people. The country is home to over 11,000 ATMs, and this is due in large part to its highly developed banking infrastructure. The various banking services offered by the Dutch banks are also a factor in the availability of ATMs in the country.
- Italy
Italy is in ninth place, with close to 9.5 ATMs per 100,000 people. The country is home to more than 40,000 ATMs, and its highly developed banking infrastructure and excellent customer service are responsible for the high number of ATMs in the country.
- Spain
Spain has close to 8.5 ATMs per 100,000 people and more than 27,000 ATMs in total. The country has a highly developed banking infrastructure, and its citizens have easy access to financial services.
Advantages of High Number of ATMs Per Capital
• 24/7 Availability: With the presence of ATMs, people are able to access cash quickly and conveniently. ATMs are always available, and this ensures that people have access to money whenever they need it
• Ease of Access: The presence of ATMs ensures that citizens do not need to travel far to access financial services.
• Convenience: ATMs are a secure and convenient way to access cash. They are also faster and easier than visiting a bank branch.
• Reduced Lines and Wait Times: With the presence of ATMs, there is no waiting in line for service and reduced waiting times.
• Availability of Cash: With the presence of ATMs, people can access cash even when their bank is closed. This ensures that people are able to meet their financial obligations without interruption.
• Lower Transaction Costs: ATMs reduce the cost of transactions for both banks and customers.
ATMs are a necessary part of modern financial services, and the presence of a large number of ATMs in certain countries ensures that citizens have easy and convenient access to financial services. The countries that have the highest number of ATMs per capita are the United States, France, the United Kingdom, Germany, Australia, Canada, Japan, the Netherlands, Italy, and Spain. The presence of ATMs in these countries has had many benefits, such as the 24/7 availability, ease of access, convenience, reduced wait times, cash availability, and lower transaction costs.
