Withdrawing cash from bank cards

Cash circulation in Russia

Main article: Cash circulation in Russia

2023

Russians removed 33.3 trillion rubles from cards for the year - 13% more than a year earlier

In 2023, Russians withdrew 33.3 trillion rubles from bank cards, which is 13% more than in the previous year. At the same time, remittances on cards on an annualized basis increased only by 8% - to 79.3 trillion rubles. Such figures were announced on March 10, 2024 by the Bank of Russia.

According to RBC, referring to the published statistics, the volume of cash withdrawals from cards in 2023 showed the maximum growth rate in at least ten years - since 2014. In particular, in 2022, this figure increased on an annualized basis by 6%, in 2021 - by 5%, while in 2020 a decrease of 2% was recorded. In 2014, when Crimea became part of Russia, the annual growth was approximately 11%.

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The study says that in 2023, the total volume of transactions on bank cards of individuals reached almost 167 trillion rubles, which is 12% more compared to 2022. However, this is the lowest increase since 2014. For comparison: in 2022, the increase was recorded at around 16%, while in 2021 the maximum value in 10 years (since 2014) was noted at 26%. Payment for goods and services on cards in 2023 accounted for 54.4 trillion rubles - 16% more compared to the previous year.

As of the end of 2023, there were about 442.4 million valid bank cards for individuals in Russia. In relation to 2022, their number rose by 13.5%.

In the segment of legal entities, the volume of card transactions in 2023 amounted to approximately 4.7 trillion rubles, which is 15.7% less than in the previous year. It is noted that in 2022 the rate of decline was significantly less - 2.1%. Moreover, before that, there was an increase since at least 2014. The total number of issued cards of legal entities in 2023 decreased by 1% - to 6.9 million units.^[1]

Growth in the volume of cash withdrawals at the cash desks of stores 3 times to 12 billion rubles

The volume of cash withdrawals at the cash desks of Russian stores in the first half of 2023 tripled compared to the previous six months and amounted to 12 billion rubles. This is evidenced by the data of the Central Bank of the Russian Federation, published in early February 2024.

According to Kommersant, citing materials from the regulator, in January-September 2023, the number of stores providing cash at the checkout service increased by more than 35% and exceeded 33 thousand units. The most active service is promoted by Sberbank, which had more than 28,000 points connected.

source = Vedomosti

The newspaper reminds that at the checkout in Russian stores you can rent no more than 5 thousand rubles at a time and no more than 30 thousand rubles a month. In 2023, the average amount of cash withdrawals in this way amounted to 2 thousand rubles.

The volume of cash issuance at the checkout is incomparable with what is withdrawn from ATMs - less than 0.1%, says Alexey Voilukov, vice president of the Association of Russian Banks. According to his forecasts, the service will develop rapidly, and by the beginning of 2026 the number of stores offering the service may exceed the number of ATMs by one and a half times. Voilukov claims that Sberbank plans to connect 60 thousand stores by 2025.

The head of the board of the Financial Innovations Association, Roman Prokhorov, in a conversation with the publication, explained the demand for the service among banks by the possibility of saving on ATMs. According to him, it is expensive for credit institutions to maintain ATM networks, connecting to the service allows you to optimize and reduce the network of such devices.

However, for retail chains, the effectiveness of the service is not obvious, since "it reduces the speed of customer service at the checkout and, accordingly, the throughput, which is one of the key parameters of retail," Prokhorov said. Voilukov agreed that the "cash at the cash desk" service is more profitable for banks than to install an ATM that must be serviced and cash collection^[2]

2021: Implementation by Russian banks of the cash withdrawal function in cafes, restaurants and hotels

At the end of April 2021, it became known about the introduction by Russian banks of the function of withdrawing cash in cafes, restaurants and hotels. Such a service is already working for Promsvyazbank, and AK Bars Bank is preparing to test a similar solution. Representatives of credit institutions told Izvestia about this.

In their opinion, the owners of retail outlets can benefit from the cash withdrawal service. By the end of the working day, they will have a little money at the checkout, so you won't have to use the collection. In addition, the client will have to buy something to be given cash, which means that the business can increase sales.

Russians can withdraw cash in cafes and restaurants, the service is already working with Promsvyazbank

Nikita Khomutov, director of the bank's acquiring department, told the publication that cafes and restaurants are already about a quarter of partners who have implemented the technology of issuing money at the cash desks. In total, there are about 300 such trade and service enterprises.

Alexey Bakhaev, head of the department for the development of social projects, housing and communal services projects and cash solutions for partners of Ak Bars Bank, said that the piloting of the service is planned for the third quarter of 2021. He clarified that 10 cafes in Tatarstan will become partners.

The Bank of Russia explained that the service of receiving cash at the checkout has prospects in rural areas, in remote, sparsely populated territories of the country. By the end of April 2021, the network of points of provision of this service is expanding in Russia. According to the regulator, there are already almost 4.5 thousand of them, and more than 95% of them are located in rural areas.

The service of issuing cash in hotels and restaurants will be popular both in large cities and in small towns, says Pavel Sigal, first vice president of the Opora Rossii small business association. He noted that the ability to get cash in hotels will add convenience to guests and guests of cities who will not need to look for branches or ATMs to replenish the supply of banknotes.^[3]

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