In a recent study carried out by Nickel, an alternative account to traditional banking, it has been revealed that despite the growing use of digital payments, cash continues to be a form of payment widely used by Spaniards.
According to the report, titled “Perception and habits of Spaniards regarding the banking sector”, almost two thirds (64.5%) of those surveyed state that they continue to use cash for their daily operations, while only 24% exclusively use payment cards.
The study revealed that Expense control is the main reason why more than 43% of Spaniards prefer the use of cash. Being able to clearly and tangibly visualize their personal budget when making cash payments gives them greater awareness of their spending.
In addition, privacy is also seen as a significant advantage of cash, with 32.3% of respondents feeling they are not required to share what they spend their money on with third parties.
However, Access to cash has become more complicated due to the continuous closure of bank branches and the decrease in ATMs in various areas of the country.
More than 80% of those surveyed have experienced this situation in their locality, which has affected approximately one in four Spaniards, who are forced to travel by public or private transport to the nearest branch to carry out cash transactions.
Although measures have been put in place to improve access to cash, particularly in rural areas and among the elderly, the study shows that less than 10% of those surveyed consider that there has been an improvement in the last five years. This lack of progress highlights the need to address the availability of cash in these areas, with the aim of ensuring financial inclusion for all citizens.
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