The Swiss National Bank finds that Swiss households choose cash for 70% of payments according to the interviews with 2,000 residents conducted by the central bank as well as the analysis of their 22,500 transactions.
The Results of the 2017 Survey on Payment Methods shows how even though Switzerland enjoy a wide range of cashless option, they love keeping cash around even more.
According to the information provided by respondents, 37% of Swiss households hold cash as a store of value, significantly higher than the euro area average of 24% and the Dutch proportion of 29%. By contrast, Austria (35%) returns a very similar figure. The average amount of cash held as a store of value in Switzerland is broadly similar to that of the euro area.
'Thanks to the high level of acceptance of cashless forms of payment and the ready availability of cash, households in Switzerland genuinely do have the opportunity to use their preferred payment method at most places of payment.'
- 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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