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8 out of 10 Spanish people against the disappearance of cash
In most of our pockets it is common to find cash, although in recent years digital payment methods have gained a significant presence. According to the survey conducted by GAD3 for the Denaria platform, 8 out of 10 Spanish people are against the disappearance of cash, a rejection that is especially strong among the elderly (89%), those with lower incomes (88%) and regular cash users (96%). This study, presented on November 21, 2024, shows that cash continues to be a fundamental means of payment, used regularly by a third of the Spanish people and predominantly in households with an income of less than 1,200 euros per month, representing approximately 8 million people.
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7 out of 10 respondents affirm the importance of cash in their day-to-day life
Although the use of credit or debit cards has reached an all-time high of 57% of users, cash is still highly valued for its key advantages, such as privacy, low risk of fraud, reliability and its ability to facilitate spending control. In fact, cash is the payment method most supported by the population (94%), surpassing cards (90%), and its importance is greater among the most economically vulnerable groups and the elderly.
However, in 2024 the perception of difficulty in accessing cash reached its highest level, especially among middle-aged people and residents of large municipalities. This has led 95% of respondents to support the installation of ATMs in all municipalities of a certain size, while initiatives such as the distribution of cash through the Post Office (70%) or the use of stores as withdrawal points (68%) are also widely supported.
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Concerns about digital payment methods
The study reveals growing concerns about the risks associated with digital payment methods. Top concerns include location exposure (75%) and shopping habits (67%). However, the greatest fears center on exposure of personal data and financial balance. In contrast, cash is still considered the safest method by 92% of respondents, being reliable, preserving privacy and not relying on technology.
On the other hand, a third of Spanish people withdraw cash daily, while 40% do so weekly, more frequently among older people and those who have easy access to ATMs. However, the current limit of 1,000 euros for cash payments is perceived by more than half of the population as an excessive restriction that violates their rights.
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The role of the Bank of Spain and public administrations
The Bank of Spain is identified by 80% of respondents as the main guarantor of access to cash, surpassing other entities. In addition, two thirds of the participants believe that public administrations should guarantee the necessary infrastructure for this means of payment. However, only one third believe that these institutions are really promoting its permanence.
Will it be possible to improve accessibility and secure the future of cash in the face of advancing digital payments?
Technical data
Universe: Spanish population over 18 years of age.
Scope: national.
Quotas: sex and age groups according to the distribution of the electoral census.
Sample size: 1,001 interviews in total. 500 CATI interviews and 501 CAWI interviews.
Information collection procedure: computer-assisted telephone interview (CATI) to landline and cell phones (50% of the total sample) and computer-assisted online interview (CAWI) (the other 50%).
Interview duration: 4-6 minutes approximately.
Fieldwork dates: October 9 - 17, 2024.
