SIOUX FALLS, S.D.– After a significant dip in 2020, the number of ATMs in the United States grew by about 21,000 terminals from 2021 to the end of 2022, according to the ATM Industry Association.
ATMIA now estimates the total number of active ATMs to be between 520,000 and 540,000.
“An exact count of ATMs is virtually impossible,” ATMIA USA Executive Director David Tente said in a statement. “The total number of Terminal IDs must be adjusted to account for ATMs that have multiple TIDs, as well as those that are out-of-service or decommissioned but still in the system.”
Earlier Estimates
ATMIA’s previous population estimate of 475,000–500,000 was released in late 2017. The recent low of 450,000 ATMs was experienced in 2020, but “many of those ATMs were behind locked doors and out of service due to pandemic shutdowns,” the organizations aid.
As presented by the Atlanta Fed at ATMIA’s 2023 annual conference, cash in circulation has increased sharply since the pandemic—28% just since 2020, the organizations aid.
The amount of cash held by individuals as a store of value has also grown. And although the number of cash withdrawals has declined slightly, consumers are withdrawing much more per ATM transaction than a few years ago.
‘More Opportunities’
“All of this portends well, particularly for independent ATM deployers (IADs),” the ATMIA said. “As banks continue to close branches in rural, sparsely populated, and low-income areas, IADs gain more and more opportunities to provide financial services to the consumer and small business markets. We are also seeing steady growth in the deployment of recycling ATMs in retail locations.”
Again, there are more opportunities for IADs to offer new services, such as cash deposits, the ATMIA added.
"It is a positive sign to see growth in the ATM channel and continued opportunity to provide consumers with access to cash,” stated ATMIA CEO Lonnie C. Talbert. "This, coupled with the rise in app-based contactless ATM transactions increasing to over $5 billion in volume, shows ATM commerce is resilient and trending upward."
The ATM growth seen over the past three years is valid testimony to the bright future of the ATM industry.
Are You Being Gouged for Bank-Like Subscription Fees for Old News? Here’s a CU-Like Way to Fix That
The biggest, best and freshest news reporting in credit unions remains free! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news”” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?