UPDATE: 9 min. AGO
Dutch people are withdrawing more money after budget advisor Nibud recommended on Tuesday to have at least 70 euros per person at home. The number of withdrawals at ATMs has increased by about 10 percent.
“The average amount is a few tens of euros higher than normal,” said a spokesperson for Geldmaat to news agency ANP. Geldmaat is the company that manages and maintains the ATMs for the major banks in the Netherlands.
According to the spokesperson, the crowds are not too bad. “We see that people are taking the advice to heart that it is not necessary to go to an ATM immediately and withdraw the amount. There are no queues at the ATMs.”
On Tuesday, De Nederlandsche Bank, consumer organizations, banks and the Ministry of Finance issued a new recommendation: keep 70 euros per adult and 30 euros per child in cash on hand. This will allow you to buy necessary groceries for three days during a major PIN outage.
The advice is valid for the next five years. The image below takes inflation into account.
Due to increased geopolitical threats, banks have been encouraging consumers to have cash at home for some time.