Journal Journal: European Union wants to send the ATM system back into stone age
Portugal has one of the most, if not the most, advanced ATM networks in the world. While on most countries the ATM networks seem to be handled by individual banks, the Portuguese ATM network, called Multibanco (yes, as in multi-bank) is owned and ran by a state entity called SIBS (Sociedade Interbancária de Serviços - roughly inter-banking business society). This unified ATM network allows the state and the banking businesses to save millions in equipment, maintenance and headco