The report looks payment behavior and the use of cash by households in Switzerland and uses data gathered from an interview survey with around 2,000 Swiss residents.
According to the findings from the Swiss National Bank report, cash is used for 45% of household payments in Switzerland in terms of value of transactions (SNB, 2018).
'Cash is the most common method of payment for households in Switzerland. Of the payments recorded, 70% were processed with cash. When measured in terms of value, by contrast, cash accounted for just 45% of the recorded expenditure.'
The Results of the 2017 Survey on Payment Methods shows how even though Switzerland enjoys a wide range of cashless option, they love keeping cash around even more.
Key findings include:
- In one week, 70% of the payments recorded by Swiss residents were processed with cash.
- In terms of value, 45% of the recorded expenditure was conducted with cash.
- According to the survey, 37% of Swiss households hold cash as a store of value (the euro area average is 24%).
- In Switzerland, people choose cash for35% of non-recurring payments over CHF 1,000.
Related Quick Stats
- In Switzerland, 70% of household payments occur with cash (Swiss National Bank, May 2018)
- In Malta, people chose cash 92% of the time
- In Germany, 62% of people pay cash in pedestrian zones (Cardtronics, 2017)
- In Estonia, cash is used in almost half of all point of sale transactions
- In 2016, cash was relied upon by 2.7 million people within the UK, finds UK Finance
- In 2016, cash share made up 22.9% of Spain's GDP (PYMNTS, Jan 2018)