One of the studies done by banks shows that during the four and a half months since the euro currency was introduced in Estonia, most of the ATM problems have involved the delivery of five euro banknotes.
One of the studies done by banks shows that during the four and a half months since the euro currency was introduced in Estonia, most of the ATM problems have involved the delivery of five euro banknotes. More than half the complaints lodged concerning ATMs’ delivery of banknotes were in connection with €5 banknotes.
Some bank representatives confirm that this is a problem for which a solution is currently being sought. However, they deny rumours that they will cease using €5 banknotes in ATMs. Statistics show that in April, 139 out of the 287 complaints lodged about ATM problems concerned the €5 banknotes. The most problematic month in relation to this issue was February, when 164 complaints were lodged concerning €5 banknotes.
Nonetheless, Sampo and Nordea bank specialists state that the €5 banknotes have been delivered by their ATMs with no complications. Sampo Pank and Nordea Pank have advised that they have not received not even one complaint of any customer being unable to take delivery of €5 banknotes from shared Sampo/Nordea cash-dispensing ATMs or that they had any problems trying to take delivery of these notes.
Sampo Pank and Nordea Pank use new generation Wincor Nixdorf cash-dispensing ATMs to serve their clients and there have been no problems reported concerning delivery of €5 banknotes by these ATMs. Incidentally, Wincor Nixdorf’s official partner in Eastern Europe is the international company BS/2, which has been operating successfully in the banking technology sector for more than 15 years and occupies a leading position in many countries of the world.
The Head of Sampo Pank, Aivar Rehe, says that the €5 banknote is important to his clients, since it is a banknote of daily use. His bank will continue to issue €5 banknotes from its cash-dispensing ATMs.
On the general subject of the use of cash money, it is claimed that its use has declined significantly and that people are using bank cards for transactions more and more, even when paying small amounts. Settling in cash has drastically decreased in offices too. In December and January offices took in about 100,000. In the following months, however, the number of cash transactions had fallen by 55 per cent. The number of cash pay-outs had fallen by 25 per cent.