The government has submitted a proposal to banks for installing ATMs in 10 remote and mountainous areas to address service gaps created by branch closures, sources familiar with the matter said.
Among the recommendations is an installation at Kykkos Monastery, a proposal that appears to have met with initial resistance from banking institutions.
According to information obtained by philenews, the government’s approach emphasises resident needs rather than potential transaction volumes, stating that “evaluation should be based not on expected business turnover, but on serving these community clusters and residents facing difficulties, regardless of population size”.
The proposals were developed through consultations led by Mountain Areas Commissioner Charalambos Christofinas, who has conducted extensive community discussions since early 2024 to identify needs and potential installation sites.
While negotiations continue between government officials and banking representatives, initial responses suggest banks have proposed alternative locations for some installations.
The matter is expected to be discussed further in upcoming meetings.
The government’s proposed locations include:
- Kykkos area: To serve Kampos Tsakkistras, Milikouri, Gerakies and surrounding communities, with installation at Kykkos Monastery. Banks appear reluctant to prioritise this location.
- Astromeritis area: Intended to serve Nicosia’s E cluster communities including Vyzakia, Potami, and Nikitari. The proposed site is the recently opened Alphamega supermarket.
- Kalopanagiotis: An existing ATM from a different company is already in place. The proposal suggests adding a JCC ATM.
- Kalo Chorio Limassol: To serve B and H community clusters.
- Eptagoneia: To serve community clusters in both Limassol and Larnaca. Banks have accepted this proposal and are discussing potential installation sites.
- Kyvides: Recommended due to increasing population, with banks appearing to agree.
- Pelendri: Banks have agreed and contacted the community to determine installation location.
- Panagia: Banks prefer to include this location in a second phase of installations.
- Salamiou: The request has been accepted by banks.
- Korfi (towards mountainous Limassol): Banks appear to disagree with this proposal.
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