François Villeroy de Galhau, the Governor of the Bank of France, recently emphasized the institution's commitment to maintaining cash as a means of payment, stating that it would 'never abandon' cash despite a rapid decline in its usage. During a recent session with the Finance Committee of the French National Assembly, he acknowledged the significant decrease in cash withdrawals and the number of ATMs available in the country. Galhau's reassurances come amid growing concerns over the accessibility of cash as digital payment methods become increasingly prevalent.

The trends highlighted by Galhau reflect a broader shift in consumer behavior, particularly as the convenience of digital payments continues to attract a larger segment of the population. Nevertheless, he underscored the importance of cash access for all citizens, stating, 'access to cash is a fundamental right of our fellow citizens.' This statement is particularly significant as it denotes a commitment to inclusivity and highlights the potential challenges faced by vulnerable populations who may rely more heavily on cash transactions.

The statement also implicitly addresses policy considerations and the need for regulatory oversight in the banking sector as banks streamline operations and reduce costs. The decrease of 1,500 ATMs in 2024 alone signals a worrying trend that could impact many regions differently, especially rural areas where ATM access might already be limited. Overall, Galhau's commitment aims to reassure the public about the future of cash in France amid ongoing discussions about modernizing the banking system.