Money: the French withdraw Cash Less Often, But Larger Sums, according to the Banque de France

Cash withdrawals decreased by 4.3% between 2023 and 2024. On the other hand, the average withdrawal amount increased from 82 euros in 2014 to 126 euros in 2024

The number of withdrawals from ATMs and bank counters fell in France between 2022 and 2024, but the average amount withdrawn tends to increase, the Banque de France said on Thursday in a bulletin entitled “Parlons cash”. The French made just over ’1.1 billion withdrawals last year, or 4.3% less than in 2023 and 7.1% less than in 2022.

The number of automatic teller machines (ATMs) – 42,758 units at the end of 2024 – decreased similarly over the period: -3.5% between 2023 and 2024 and -7.9% between 2022 and 2024. The average ATM withdrawal amount, however, has been on an upward trend for a longer time. It reached 126 euros in 2024, compared to 82 euros in 2014, note the authors of the study.

“The French therefore withdraw cash from ATM less often, but for higher amounts”, they conclude. Supply has adapted to demand. The share of 50 euro notes injected into payment circuits has increased over the last ten years in France. The demand for banknotes is not solely motivated by a transactional reason, underlines the Banque de France. Cash is in fact mainly stored under the mattress, in the euro zone and beyond (Eastern Europe, Africa…).

No more bank card payments

The share of cash payments at points of sale (supermarkets, restaurants, hairdressers…), trending downward, fell behind that of bank cards in France for the first time last year, according to a study published end of 2024 by the European Central Bank (ECB). In value terms, this share is stable, according to this study.

In terms of access to species, “departmental disparities exist”, according to another study, relayed in June on the Caisse des Dépôts (CDC) website. “While almost all residents of Île-de-France and PACA have access to bank branches in their municipality, more than half of residents of Haute-Saône (59%), Creuse (59%), Meuse (57%), and Lot (54%) are deprived of it”, she indicates.

Around 30 billion euro banknotes were in circulation at the end of June, with a total value of around 1.6 trillion euros, “reflecting strong demand for cash both inside and outside the euro zone “, according to the ECB.