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Slovakia shows financial resilience amid shift to cashless economy
Slovakia and the Czech Republic demonstrate notable financial resilience compared to much of Europe. According to Eurostat data, while nearly 30 percent of EU residents cannot afford unexpected expenses, only 26 percent of Slovaks face such difficulties.
In contrast, countries like Greece report over 50 percent of the population struggling with unexpected costs, while the Netherlands shows the highest resilience with only 15 percent unable to cope.
Simultaneously, Slovakia is experiencing a significant shift toward a cashless economy. Data from the National Bank of Slovakia shows a rapid increase in payment cards, which reached 6.32 million in August 2024. This trend is accompanied by a decline in cash usage; cash withdrawals dropped from over 38 million in 2023 to approximately 34 million recently.
As card usage rises, the number of ATMs is decreasing. The count fell from over 3,300 in August 2024 to a projected 2,700 by August 2026. Banks are increasingly replacing traditional ATMs with multifunctional devices that allow for both withdrawals and direct deposits.
Entities
Czech Republic · Eurostat · National Bank of Slovakia · Netherlands · Slovakia
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The number of payment cards in Slovakia reached approximately 6.32 million in August 2024. www.techbyte.sk
- [○ 1 SOURCE] The number of ATMs in Slovakia is projected to decrease to approximately 2,700 by August 2026. www.techbyte.sk
- [○ 1 SOURCE] Slovakia had over 3,300 ATMs operating in August 2024. www.techbyte.sk
- [○ 1 SOURCE] 26 percent of Slovaks would struggle to cover unexpected expenses like car repairs or new appliances. www.pravda.sk
- [○ 1 SOURCE] Slovak banks recorded over 38 million cash withdrawals in 2023. www.techbyte.sk
- [○ 1 SOURCE] Approximately 29.2 percent of EU residents could not afford unexpected expenses in 2025. www.pravda.sk