Research commissioned by the European Central Bank (ECB) reveals that over a quarter of people in Belgium are having a hard time finding a cashpoint to withdraw cash. Belgium leads the pack in a comparison of European nations.
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Getting hold of cash is harder in Belgium than anywhere else in the Eurozone
Colin Clapson
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Last time the question was posed – only three years ago - only 15% of Belgians said they were struggling to find an ATM. The figure has now soared to 27%. The survey shows that Belgium is the Eurozone country where it is hardest of all to access cash.
Belgium’s fate contrasts with that of many other Eurozone nations where getting hold of readies has become easier in recent years.
The number of cashpoints in Belgium now stands at 4,000. This is half the number of eight years ago. Their number is set to fall further as high street banks are eager to reduce numbers further.
Cash remains the most popular form of payment at sales points.
The survey reveals that 60% of Europeans still prefer cash. For Belgium the figure is 45%. Belgium is one of only four countries where card payments are more popular than cash. Contactless payments – without the need to provide a PIN code - are not popular in Belgium. There has been an increase in recent years, but the share of payments that is contactless is lower in Belgium than in any other Eurozone nation.
Belgians don’t mind paying online. Here Belgium leads the pack with a quarter of all payments now online payments. The figure contrasts sharply with Germany and the Netherlands where the figure is only 10%.