Cyprus’ cash-access infrastructure remained broadly stable in 2025, even as the number of automated teller machines continued its gradual decline, according to a new report from the Central Bank of Cyprus. The number of ATMs fell from 398 at the end of the second half of 2024 to 396 a year later.
While banks added new machines in remote and mountainous areas to improve access for local communities, those installations were offset by removals elsewhere as lenders continued adjusting their branch and self-service networks.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
Contactless ATMs Expand
By the end of the second half of 2025, around 73% of ATMs in Cyprus supported contactless transactions, well above the euro area average of 38%.
ATM numbers also declined across the euro area, falling from 252,249 to 248,888 over the same period. Over the past five years, both Cyprus and the euro area have reduced their ATM networks by around 13%, reflecting lower cash usage and banks’ efforts to streamline operations.
Cash Withdrawals Become Less Frequent
The report also highlights a continued shift in payment habits. According to the ECB’s SPACE study, Cyprus recorded the largest decline in the share of cash payments at the point of sale among euro area countries between 2022 and 2024. At the same time, cashback services have become a more common way for consumers to access cash.
ATMs remained the primary withdrawal channel, with around €2.6 billion withdrawn during the second half of 2025. Although the total value was broadly unchanged from a year earlier, fewer transactions pushed the average withdrawal up from €307 in the second half of 2022 to €390 by the second half of 2025.
Bank Counter Withdrawals Continue To Decline
Cash withdrawals at bank counters have almost halved over the past three years, reinforcing the shift toward self-service and alternative cash-access channels.
