ATM Outages Spark Public Outcry Amid Cash Shortages in Sweden
Bankomat faces severe ATM outages leading to cash shortages, prompting public criticism in Sweden.
Key Points
- • 25% of Bankomat's ATMs are currently out of service.
- • Björn Eriksson labels the crisis a 'total failure' and calls for action.
- • Cash withdrawals in stores surged by 20% in June due to ATM outages.
- • Eriksson has filed a complaint against PTS for ineffective oversight.
In a troubling development for Sweden's financial landscape, Bankomat's ATM network is experiencing severe operational failures, with reports indicating that about 25% of its machines are currently out of service. This situation has resulted in significant cash shortages across the country, leading to public criticism from consumer advocacy groups.
Björn Eriksson, chairman of Kontantupproret—an organization focused on preserving cash services—characterized the ongoing crisis as a "total failure." He criticized the response from both Bankomat and regulatory bodies, urging them to take immediate action to alleviate the public's difficulties.
The situation has escalated since Bankomat assumed responsibility for cash deliveries to its ATMs earlier this year, a transition marked by various operational challenges. Johan Nilsson, Bankomat's marketing manager, revealed that approximately 300 out of 1,200 ATMs are non-operational due to delays in cash refills and repairs. He acknowledged the gravity of the situation, stating, "It's unacceptable that some machines have remained out of service for over 20 days."
As consumers face mounting frustration, there's been an uptick in cash withdrawals in stores, particularly at grocery chains like Ica, where transactions increased by approximately 20% in June compared to May. This shift underscores the public's struggle to access cash amidst the outages.
Both Riksbanken, Sweden's central bank, and the Post- och telestyrelsen (PTS) have been in ongoing discussions with Bankomat to address these significant issues. However, Eriksson has expressed dissatisfaction with their efforts, asserting that they have been inadequate. He has filed a complaint against PTS, citing ineffective oversight that he believes has contributed to the crisis and left citizens in a precarious position without a viable solution in sight.
As the situation continues to develop, public demand for accountability and restoration of reliable cash access remains critical in Sweden's financial discourse.