hub.brussels was commissioned by the Secretary of State for Economic Transition to carry out this study, providing an overview of the current situation and the needs of Brussels residents in 2023, and setting out a series of recommendations for adapting the network to meet those needs.
Cash widely used by consumers and retailers
Brussels residents still carry banknotes in their wallets, according to the responses from more than 1,000 consumers surveyed. No fewer than 80% of those surveyed carry cash, and 90% have withdrawn cash from ATMs in the past three months.
And they spend that cash, too. Although it is sometimes regarded as an outdated means of payment, cash is still just as widely used as electronic alternatives, especially for purchases from local retailers.
Retailers also appreciate it when their customers pay in cash, as they do not have to pay any direct fees on these transactions. Nevertheless, whilst many highlight the costs associated with payment solutions, such as Bancontact, meal vouchers or Payconiq, many are unaware of the actual cost (50% of the 1,000 establishments surveyed).
Access to Cash
In June 2023, there were 410 ATMs in the Brussels-Capital Region. That means the city needs 87 more if it wants to meet the federal threshold of one ATM per 2,500 inhabitants. As for the distribution of ATMs across the Region, it is not always ideal. For example, Forest is by far the worst-served municipality, with just one location housing two ATMs for the entire municipality. The coverage is also inadequate in the Sablon, Marolles and Saint-Job (Uccle) neighbourhoods, and on the Chaussée de Ninove (Molenbeek and Anderlecht). Both shoppers and retailers are in agreement: the network of ATMS is unsatisfactory (less than 50% satisfaction, and even lower amongst retailers).
“A more even distribution of ATMs across the Brussels region is not only beneficial to consumers, but is also vital for local businesses. By ensuring that every neighbourhood has fair access to cash, we are strengthening the local economy and fostering an environment where commercial interactions can thrive in an inclusive manner, thereby supporting the vitality and diversity of Brussels’ economic fabric,”
Isabelle Grippa, CEO of hub.brussels.
The study provides an example of how it could be done. It includes a simulation with a similar number of locations to the situation observed in 2023, but in which the distribution of the ATMs has been optimised. The results showed that if at least one ATM was provided in every commercial centre and the number of ATMs for every 125 shops was increased, it would be possible to serve densely populated shopping areas without significantly increasing the size of the network.
