The report looks payment behavior and the use of cash by households in Switzerland and using data gathered from an interview survey conducted with around 2,000 Swiss residents.
According to the findings from the Swiss National Bank report, cash is used for 70% of household payments in Switzerland in terms of number 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%).
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