While the number of ATMs is declining globally, Serbia is among the few countries where ATM usage and installations continue to grow. According to Datos Insights, the global ATM count fell from 3.15 million in 2020 to 2.96 million in 2023, with declines driven by rising digital payments, branch closures, high maintenance costs, and shared ATM networks. However, Central and Eastern Europe, the Middle East, and Africa remain exceptions to this trend.
In Serbia, ATM numbers increased by 4.5% in 2024 to a total of 3,218 units. The National Bank of Serbia also reported 160,000 active POS terminals by the end of 2024, up 18% from the previous year.
High investment, ongoing relevance
Banks such as OTP and Alta continue to invest in ATM infrastructure. The cost of a single ATM ranges from €15,000 to €30,000, depending on technology and location. Despite growing use of mobile banking, ATMs remain essential, especially for cash transactions.
- OTP Bank maintains 285 ATMs and emphasizes service quality and availability.
- Alta Bank, with 220 ATMs and over 1,200 POS terminals, is expanding further to meet client demand and reduce branch pressure. It also plans to introduce ATMs that support euro transactions.
- Yettel Bank, a digital-first bank with no physical branches, operates 93 ATMs across 35 cities. Clients using its MAX package can withdraw cash from over 3,000 ATMs in Serbia without fees.
All banks note that while digital services are rapidly growing, ATMs still serve an important transitional role, especially for withdrawals, and will continue evolving with new functionalities.
Technology in transition
Modern ATMs have evolved into full-service machines resembling teller counters. But as digital and mobile banking gains traction, even these “automated banks” face gradual replacement by apps and online services. Still, due to user habits and cash dependence, particularly in Serbia, ATMs remain a critical part of the financial ecosystem for now.
