You can now select and download multiple cash facts at once. | Read more

‘Cash is the lifeblood of German retail’, finds Cardtronics study

May 14, 2018 Share Source

A recent Value of Cash study* from Cardtronics finds that many German shopping destinations rely on cash as the lifeblood of their local businesses

When 2,000 Germans were asked about their most recent payments for a YouGov survey, a whopping 93% of consumers said they used cash at newsagents or bakeries and 62% confirmed using cash for their latest visit to a shopping district. Who knew? Germans love cash!

'...local cash supply through ATMs is directly related to the success of retailers in towns and communities.' (Cardtronics, 2017)

Beyond Germany's passion for cashin', is their appreciation for ATM convenience. Research reveals that 41% of people who withdrew cash around smaller shops spent it immediately in-store and 44% of people who purchased something at a weekly market used cash from a nearby ATM. 

  • Majority of key shopping destinations in Germany rely on steady supply of cash
  • Cash is seen as easier, faster and safer to use than other popular payment methods
  • Depending on the shopping environment, the average cash spend of customers can be up to 30% higher after a cash withdrawal at a nearby ATM
  • 37% of Germans would consider switching their bank if their local bank branch closed and its ATM was removed

This means that the availability of ATMs encourage higher cash sales for many retailers. When a city's shopping district sees a 30% increase in average cash spending when consumers have nearby access to cash, it is evident that removing ATMs can negatively effect local businesses. In fact, more than a quarter of respondants said that they'd consider going to a different shopping location if they were unable to get cash out when there.  

"The study shows how a local cash supply fosters the vitality of local communities and their retailers. This is rooted in the strong German preference for cash, where people value it because of the speed and security it offers."
" Marc Terry Managing Director EMEA for Cardtronics

Excerpt from Cardtronics Press Release

The online survey was commissioned by Germany’s largest independent ATM provider, Cardtronics Deutschland, and was carried out by independent market research institute YouGov...Against the backdrop of a changing banking landscape in Germany, the study recommends preserving ATM services where bank branches are closing. 

However, preserving the local cash supply is not only of relevance to local retailers, but to financial institutions too. More than 1 in 3 (37 percent) Germans said that they would consider switching to a different bank if their local branch closed and its ATM was removed. Indeed, they would switch to a bank with a closer cash machine. Considering the same scenario of losing their local ATM, only 37 percent committed to using their own bank’s ATMs and continuing shopping as before. This underlines the benefits for both banks and local communities if a solution is found to continue local ATM services.

*This study is part of a larger Cardtronics study titled, 'The Value of Cash for Retailers and Financial Institutions'. 

Download Cardtronics study here


Cardtronics. 'Value of Cash: Cash is the lifeblood of German retail.' Cardtronics. Electronically published November 29, 2017.

Related Articles

Cash Matters In Germany, the abolition or restriction of cash is refused, concludes Deutsche Bundesbank study
Even though card use is on the rise, German consumers still prefer cash, concludes the most recent study on payment behaviour within Germany. The study was presented for the first time at the Deutsche Bundesbank's Fourth Cash Symposium taking place today at the Hilton in Frankfurt am Main.

Cash Matters German researchers find cash irreplaceable
Is a cashless culture really as "convenient, safe and user-friendly" as Mastercard and Visa would have us believe? In April 2017, the Deutsche Bundesbank offered the public answers from the experts by commissioning an 'independent demand-based approach' study on the benefits of cash presented at the 2017 International Cash Conference.

Cash Matters In Germany, 62% of people pay cash in pedestrian zones (Cardtronics, 2017)
Cardtronics Deutschland present further insight on Germany's relationship with cash and the influence of ATMs on its local economies in a study based on findings by YouGov, an international data research firm. The results are in...


Last Updated: Aug. 20, 2018

Stay up to date with Cash Matters.

Join the Cash Matters community and we’ll keep you posted about the latest developments in cash happening around the globe.