Smaller banks oppose mandatory cash machine network participation

Revolut, Triodos, bunq, Knab, and Van Lanschot Kempen have voiced serious concerns over a proposed law requiring banks to participate in the national cash machine network. The smaller banks argue that the measure, aimed at ensuring access to cash, threatens fair competition and imposes disproportionate costs on institutions operating under different conditions than the larger traditional banks. The banks outlined their objections in a joint letter to the Tweede Kamer, as first reported by De Telegraaf.

The cash machine network, known as Geldmaat and operated by major Dutch banks such as Rabobank and ING, is central to the debate. Smaller banks fear that the larger institutions behind the network could set fees that leave them with no choice but to accept, placing an outsized financial burden on smaller players.

Under the proposed law, banks with over 50,000 Dutch payment account holders would be required to ensure their customers can use Geldmaat services. The law’s goal is to keep cash available, accessible, and affordable across the Netherlands.

The smaller banks are requesting adjustments to the criteria, suggesting that overall balance sheet totals be used as a threshold rather than the number of payment account holders. Many of these banks, they note, cater to niche markets, offering specialized services to customers who often have minimal need for cash transactions.

“We support the goals of ensuring access to cash,” the banks stated in the letter. “However, this obligation disproportionately affects institutions that were designed to operate differently from traditional banks.”

Maartje Cremers, head of commerce at Knab, emphasized the bank’s commitment to its digital-first approach. “Knab has deliberately chosen to be a digital bank, and our customers select us for that reason,” Cremers said. “We recognize our societal responsibility, but mandating free cash deposits via Geldmaat is not the solution. It’s costly, lacks neutrality since Geldmaat is controlled by the large banks, and creates an uneven playing field by excluding new European competitors—ultimately harming both competition and consumers.”