Cash Services: what is this brand that will replace the BNP and SG distributors?

Almost two years that the project is on the table. BNP Paribas, Société Générale, Crédit Mutuel and CIC announced in 2021 their wish to pool their fleet of ATMs to offer a better local experience while limiting costs.

The subject is particularly sensitive since these establishments bring together no less than 15,000 distributors in France, or about a third of the available park. While cash withdrawals continue to fall and the cost of operating ATMs continues to rise, banking players are forced to find solutions.

In a communicated press release published today, the banks announced the launch at the end of 2023 of Cash Services, “a complete range of local banking services common to the four banking brands”. This will be operated by 2SF (Société des Services Fiduciaires), a new company common to these groups.

A common brand

Last October, the banking groups delivered the first details on this ATM pooling project. Future distributors will allow all customers of these establishments to deposit and withdraw cash, deposit checks, consult their accounts and print their bank details.

The banking group announces that Cash Services will be “progressively deployed on all ATMs from Q4 2023 until the end of 2025, whether they are located in bank branches or in other public spaces”. The brand will be “easily identifiable for customers of the four brands”. No more distributors stamped with the BNP Paribas, CIC, Crédit Mutuel or SG logos.

With Cash Services, banks want to considerably strengthen the local offer for customers (99% of the metropolitan population will have a “cash withdrawal” service less than 15 minutes by car), perpetuate self-service banking (while 5,000 vending machines have disappeared in 3 years), and reduce the environmental footprint of vending machines.

Rationalization of costs

Without wanting to commit to maintaining the entire fleet, the four establishments ensured that no ATM would be closed in rural and isolated areas. Their press release underlines a “unique alliance for the vitality of all territories, rural and urban”.

While cash withdrawals are in decline, banks are seeking to rationalize this cost item – estimated at between 25,000 and 32,000 euros per year and per ATM. Among the most fashionable fintechs, the Nickel Account stands out by offering a new way to fund your bank account. It relies on a network of 6,800 tobacconists to enable its 3 million customers to fund their account with cash. On the other hand, online banks like Boursorama Banque have ruled out the possibility of funding an account with cash.

Each year, the Banque de France publishes a report on the development of distributors. While banks are increasingly neglecting rural areas, some municipalities are forced to finance distributors at their own expense. This is the case, for example, of Locmaria-Plouzané, a village of 5,000 inhabitants in Finistère which has sealed a partnership with Brink’s to maintain a cash withdrawal point for its inhabitants.