Research - 28.10.2024 - 09:45 

Swiss Money Map 2024 study: Will Switzerland become a "cash desert"?

Cash is still a popular means of payment in Switzerland. The latest edition of the HSG study "Swiss Money Map 2024" shows that the infrastructure for cash withdrawals is declining. Nevertheless, access to cash remains satisfactory despite the decreasing density of ATMs, bank and post office branches in Switzerland.
Source: HSG Newsroom

The "Swiss Money Map" project analyses the spatial distribution of ATMs, bank branches and now also post offices in Switzerland over time. As the current analysis shows, despite the good overall supply, there are regional differences, particularly between urban and rural areas. Since 2021, the number of ATMs has fallen by 443 (-7%) and the number of bank branches by 164 (-7%). In small, rural communities, accessibility has increasingly deteriorated: 936 communities (45.1%) had no ATM in 2023, an increase of 10.8% since 2021. Similarly, 1239 communities had no bank branch, an increase of 10.6% since 2021. Many rural municipalities are at risk of losing their last cash access. For example, 94 municipalities have lost their last ATM since 2021, while 119 municipalities no longer have a bank branch.  

New measurement of distances to cash services

The current publication is the second edition of the study and follows on from the 2021 survey. Travelling times by public transport have now also been taken into account in order to paint a comprehensive picture of access to cash services. "Based on the Swiss road network, we calculate the actual distances and travel times to the nearest cash withdrawal point. This allows us to simulate realistic conditions," says Dr Tobias Trütsch, author of the study and managing director of the Center for Financial Services Innovation (FSI-HSG) at the University of St.Gallen. Although cash access in Switzerland remains satisfactory overall, the comparison with the 2021 study shows a deterioration in the accessibility of cash services. 

Good access to cash, but accessibility is decreasing 

The average distance to the nearest cash access point for the Swiss population is around 800 metres; be it to an ATM, a bank branch or a post office − depending on which of these "cash points" is closest. On average, people in Switzerland are 1.2 kilometres away from the nearest ATM, 1.8 kilometres from the nearest bank branch and 1.1 kilometres from the nearest post office. It takes an average of 3 minutes to reach a cash withdrawal point by car. The average travel time to the nearest ATM is 3.7 minutes, to the bank branch 4.3 minutes and to the post office also 3.7 minutes. By public transport, people need an average of 8.5 minutes to reach the nearest cash access point, with the travel time to an ATM being 11.2 minutes, to a bank branch 14.6 minutes and to a post office 11.4 minutes. 

Despite the overall good supply, accessibility to cash services has decreased across Switzerland. Since 2021, the average distance to the nearest ATM has increased by around 100 metres and the travel time has increased by around 6 seconds. For bank branches, the distance has increased by 200 metres and the travel time has increased by 12 seconds. This in itself is not a major loss of time − but it is the start of a trend that could continue to worsen.

The role of Swiss Post in cash access

This year's study also included Swiss Post as a provider of cash services for the first time. It plays a particularly important role in rural communities, as in these regions the distances and travelling times to the nearest post office are often shorter than to the nearest bank and ATM. In many regions, Swiss Post offers an alternative and often better access to cash than private providers, in line with its current basic service mandate. 

Security of cash supply is guaranteed 

Overall, access to cash in Switzerland remains satisfactory according to the analysis. Only 1.2% of the population have to travel more than 5 kilometres to the nearest cash access point. Only 0.6% need more than 10 minutes by car to reach a cash source, and 5.5% of people have to travel more than 20 minutes by public transport. The smaller the municipality, the higher these proportions. The figures make it clear that the supply of cash in Switzerland is still guaranteed despite the reduction in infrastructure overall. 

Cooperation with the Swiss National Bank 

The study highlights the general trend of declining cash services. "We are delighted that the Swiss National Bank will be involved in data collection in future," says Trütsch, head of the study. "This collaboration helps to continuously check whether there are sufficient opportunities to withdraw cash throughout Switzerland in the long term." 


Further information on the study can be found at: moneymap.ch


Image: Adobe Stock / Rochu_2008

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