What you need to know about Cash Withdrawals in the Supermarket

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take cash with you at the supermarket – sometimes without even shopping.

For several years now, consumers no longer have to go to a bank branch to withdraw money; they can now do so at the supermarket. While this proves convenient for customers, it poses major challenges for retailers.

What you need to know about cash withdrawals in the supermarket

Getting cash is becoming more and more difficult. The branch network of banks in Germany has been shrinking for years, as TECHBOOK reports. According to the Bundesbank, there are currently around 51,000 ATMs – in 2018 there were over 59,000. Nevertheless, the Central Bank emphasizes: access to cash is still secured. Most people could reach an ATM within a radius of five kilometers. However, there is also another way to get your own money in the form of bills. Supermarkets have been enabling their customers to withdraw cash since 2007. As the "Stiftung Warentest Finanzen" found out, of the 37 dominant retailers in Germany, 23 offer this service.

You can get money at these cash registers

Here are the merchants with cash dispensing:

• Budni
• Denns Organic Market
• Dm
• Edeka
• Famila Northeast
• Globus hardware store
• Globus Market Halls
• Kaufland
• Lidl
• Striking
• Marktkauf
• Müller
• Net (with dog)
• Netto Marken-Discount (without dog)
• Norma
• NP Discount
• Obi
• penny
• Rewe
• Rossmann
• Toom hardware store
• You can now also withdraw cash in many Aldi Nord stores.

This is how it works: When paying for the purchase, the amount that you would like to take with you in cash is also paid. If the purchase costs 21.50 euros and you want to take 50 euros with you, 71.50 euros will be deducted. The terms of this cashback system vary depending on the merchant. Some require a minimum purchase value, others do not. Other rules apply at Rewe, Dm, Penny, Rossmann, Budni and other retailers. Thanks to a cooperation with Viacash, you can withdraw money there even without shopping. To do this, a barcode must be generated by the banking app and read in at the checkout.

The customer's joy is the supermarket's sorrow

This has many advantages for customers. You save the way to the ATM, which may be five kilometers away. And while there may be fees for drawing money at vending machines, it is possible at the supermarket checkout without a surcharge. But the banks earn on this, although they do not offer the service. "It is unacceptable that the banks earn from a service that they do not offer," says a payment transaction expert from the Handelsverband Deutschland (HDE). Retailers join in to stay competitive. Consumers rely on being able to withdraw cash while shopping. But that has its price. The fees that customers avoid have to be borne by the dealers. According to a study by the EHI trade research institute, the costs per transaction amount to 0.1 to 0.2 percent of the amount paid out. With the big chains like Rewe, individual conditions apply.