Lidl will soon be spending cash too

If you shop for more than 10 euros, you can withdraw money at the supermarket checkout.

Withdraw cash - soon also at Lidl.

NAnd also Lidl: After several supermarket chains such as Aldi Süd, Edeka and Rewe as well as drugstores such as DM allow cash withdrawals at the checkout, the discounter is now following suit. From a purchase value of 10 euros, customers can withdraw up to 200 euros free of charge from the end of August. In Germany alone there are around 3200 branches that can be turned into ATMs.

This is a win-win situation for the supermarkets that offer this service and for their customers. On the one hand you offer an additional service, on the other hand the supermarket itself has less expensive cash in the till. Holding cash costs retailers billions every year. For example, he has to keep large amounts of change in the shops.

For this, complex security technology has to be installed, the companies insure themselves against theft and pay service providers who deliver the cash in armored vehicles and pick it up again. In addition, there is no interest on the stored money, but everyday things such as wrong change also cause costs for the company. The working hours for managing the cash holdings should also not be underestimated. Accordingly, less cash costs the retailer less.

Supermarkets are an integral part of the strategy

But the supermarkets are now an integral part of the strategy for banks too. Because cash also costs a lot of money. An ATM costs the banks up to 25,000 euros a year, says Jürgen Gros, head of the Bavarian Cooperative Association, to which the Volks- and Raiffeisenbanken belong. Other calculations were much more conservative and only assumed 10,000 euros per year. With more than 60,000 ATMs in Germany, this adds up to a lot each year.

The banks are increasingly passing these costs on to their customers: either directly, through fees – or indirectly, by limiting the number of free withdrawals or by setting a minimum contribution. The free withdrawal options at the cash register will come in handy for you. This has created more than ten thousand new ways in which customers can withdraw their money. This is good news for customers, especially in times of branch closings.