Dutch Confidence in Cash Remains High

calendar iconJul 28, 2021


More than three quarters of Dutch people anticipate still using cash five years from now, and their confidence in the authenticity of banknotes is high, with over 90 percent able to identify at least one security feature.

De Nederlandsche Bank (DNB)—the central bank of the Netherlands—surveyed over 1,000 citizens in a bid to understand how people are using cash, and how they see it developing in future. It found that, despite a decline in cash transactions coinciding with the COVID-19 pandemic, the vast majority of Dutch people still carry banknotes (76 percent) and coins (85 percent).

There were small variations by age in people’s vision of cash usage in five years’ time, with 71 percent of people aged 18–21 believing they would still use it, 79 percent of those aged 30–49, and 75 percent of 50–75-year-olds. Overall, around four percent of respondents said they expected to use cash more by 2026, 30 percent felt they would be using the same amount, and 42 percent anticipated still using it, but less often.

De Nederlandsche Bank, People expecting to be paying cash five years from now

Regarding awareness of the cutting-edge security features employed on euro banknotes, the most recognisable to Dutch people were the watermark and hologram, mentioned by 69 percent and 39 percent of respondents respectively. People also reported being very positive about the quality of banknotes, with the €20 considered the most beautiful (preferred by 29 percent) and the €5 considered the least attractive (by 53 percent).

DNB recommends the public should always hold a small amount of cash “as a means of payment in emergency situations” should other payment methods fail. It also highlights the importance of maintaining payment choice, which requires the retention of cash as an option alongside cashless alternatives.

Our analysis shows that there is a social need for cash… That is why we work to ensure that cash is easily accessible and widely accepted.
"De Nederlandsche Bank, The Role and Future of Cash
Last Updated: Aug 10, 2021