Bill would guarantee ATMs in towns without banks

Automatic summary, not yet reviewed

1. The bill would give everyone the right to access banking services through a nearby ATM, no matter where they live.
2. Municipalities with no ATM in their territory (at risk of financial exclusion) would need at least one ATM, working 24 hours a day all year, offering basic services: cash withdrawals and deposits, bill payments, balance checks, statements and transfers.
3. A list of municipalities at risk of financial exclusion would be created: the Bank of Spain prepares a preliminary list, a provisional list is published, municipalities and regions can comment, and a final list is approved and updated every two years.
4. ATM installation would be voluntary first: financial institutions choose which municipalities to serve and cover the costs. If a municipality gets no offers, mandatory installation applies: first distributed among institutions by market share, and if not, the government installs the ATMs through subsidiary enforcement, paid by a fund financed by the institutions themselves.
5. The costs of setting up and maintaining these ATMs could not be passed on to users, and in some cases the service could be provided through mobile ATMs.
6. The bill would also guarantee access to other banking services: keeping ATMs at closed branches, more support staff for people with low digital skills, ATMs reserved for vulnerable people, and in-person service for older people and other groups.

Who it affects

• Residents of municipalities without an ATM: Would have a nearby ATM guaranteed in their municipality.
• Financial institutions with ATMs in Spain: Would have to install ATMs voluntarily or mandatorily and contribute to a guarantee fund.
• Town councils: Would propose locations for the ATMs and coordinate installations.
• People with low digital skills or in vulnerable situations: Would get more branch support, reserved ATMs and in-person service.
• Bank of Spain and the economy ministry: Would draw up the municipality lists and manage the allocation and the fund.

Words worth knowing

Exclusión financiera (financial exclusion)

When a person cannot access basic banking services, for example because there is no ATM or branch in their town.

Ejecución subsidiaria (subsidiary enforcement)

When the government itself does what a company or person was required to do and did not do.

Cuota de mercado (market share)

Each bank's share of the business; here calculated using deposits and loans.

Ente de ámbito territorial inferior al municipio (entity below municipal level)

A local organization managing population centers separate from the town they belong to.

Prestación patrimonial de carácter público (public financial obligation)

A mandatory payment to a public authority, similar to a tax or fee.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries