Ten new ATMs will be installed in remote areas by April following concerns over reduced banking services in disadvantaged regions, philenews sources state.
Banks have prepared a proposal for the installations and are in discussions with government officials, including Mountain Areas Commissioner Charalambos Christofinas, who will identify any additional locations that may have been overlooked in the initial planning.
According to sources, the new machines, which will be operated by JCC Payment Systems, are already in stock in Cyprus and will serve customers of all banks.
They will be installed in community authority buildings to ensure proper infrastructure and security, with banks and JCC covering installation and operational costs.
The service will be free for pensioners, in line with previously announced social support measures.
This initiative follows the banks’ earlier decision to reduce their branch network and ATMs due to high operational costs, estimated at thousands of euros monthly per standalone machine.
While banks had introduced a Cashback service allowing withdrawals up to €100 from participating businesses as an alternative solution, this measure has not met expectations despite having over 400 participating locations.
The new ATMs are expected to address accessibility issues faced by residents in remote areas following the closure of local bank branches and removal of existing machines.
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