Finns Make Most Withdrawals At ATMs, Report Says

Consumers in Finland made an average of 9,585 cash withdrawals from ATMs each month in 2007, the highest ATM activity among nations in Western Europe, according to a report released this week by Retail Banking Research. The average number of monthly ATM withdrawals for the entire region was 2,854, according to the London-based strategic research and consulting firm in a statement released Wednesday. Italy trailed the pack with an average of 1,340 ATM withdrawals per month. The high level in Finland "can party be explained by its low density of machines to population but also by the tendency of Finns to visit ATMs frequently and withdraw small amounts on each occasion," the statement says. Italians, by contrast, tend to withdraw more cash on each visit to the ATM, the firm says. The report also notes that ATMs in Western Europe are becoming more "sophisticated." For example, the region has about 24,900 ATMs with automated note acceptance, an increase of about 33% from 2006.