Nicosia, Cyprus. Withdrawals from Cyprus’ 405 automated teller machines reached €2.5 billion in the first half of 2025, Central Bank of Cyprus data showed. The total number of withdrawals fell from the same period in 2024, while higher average transactions kept overall value broadly unchanged.
Cash withdrawal trends
The Central Bank of Cyprus said the total number of withdrawals declined compared with the first half of 2024, but the total value remained broadly unchanged as the average amount withdrawn continued to rise. The average cash withdrawal increased by 28 per cent between the first half of 2022 and the first half of 2025, rising from €291 to €372.
The figures indicate consumers are withdrawing cash less frequently but in larger amounts.
Contactless infrastructure and card usage
More than 70 per cent of ATMs in Cyprus accept contactless cards, compared with 34 per cent across the euro area. The number of payment cards in circulation rose by 7 per cent year-on-year to 2 million in the first half of 2025, equivalent to roughly two cards per resident.
Payment cards accounted for 75 per cent of total transaction volume, making them the most widely used payment method in Cyprus. Cyprus ranks second in the euro zone in terms of frequency of card use, behind Portugal.
How often do you withdraw cash compared with using payment cards?