Banknote regulations made at ATMs in Turkey have led to a change in cash usage habits. Banks’ reduction of small banknotes such as 5, 10, 20 and 50 TL in ATMs for operational efficiency purposes directly affected the cash flow in the field. According to the news sourced from Türkiye Newspaper, the fact that many ATMs mainly contain 100 TL and 200 TL banknotes has made it difficult to access cash for small amount transactions.
Especially the fact that 50 TL banknotes have become limited in some devices has changed the money structure used in daily expenses. The minimum withdrawal limit at ATMs has increased to 100 TL in some banks, requiring additional transactions for small amounts. This situation has an effect that limits the use of cash, especially for expenditures between 20 TL and 50 TL. There is Difficulty in Converting Change According to field observations and sector evaluations, there may be difficulties in obtaining change in marketplaces, small tradesmen and areas where daily cash movement is intense.
This situation causes some businesses to turn to different applications in their payment processes. In economic evaluations, it was stated that the decrease in small banknotes from circulation could increase the rounding tendency in pricing processes. It was stated that this situation may affect price formation, especially in low amount transactions. The redirection of ATM capacity to higher denomination banknotes stems from banks’ need for physical money management.
Increasing transaction volume and banknote density brings to the fore the use of large denominations in ATMs.
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