“Cash is King” – Over 70 Percent Agree

“Cash is King” – Over 70 Percent Agree

Wed, Oct 25th 2023

More than 70 percent of people in Switzerland are against abolishing cash. In particular, older people and those with comparatively low incomes like to pay with notes and coins, a recent survey shows.

A total of 72 percent of respondents do not want to do without cash, as the precious metals dealer Philoro announced on Wednesday. He conducted the survey together with the University of St. Gallen.

With the over 60-year olds the portion of those, which want to hold on to the cash, is according to the data with 90 per cent, with the 50 to 59-year olds only insignificantly lower. Among 40 to 49-year-olds, 40 percent can imagine giving up cash, while the figure for people aged between 18 and 39 is around 30 percent.

According to the study authors, the attitude toward cash is influenced not only by age but also by income. While 83 percent of people with an income of less than 4,000 Swiss francs per month want to be able to continue paying in cash, only 59 percent of those earning more than 12,000 Swiss francs per month do.

For the survey, the Institute for Marketing and Customer Insight at the University of St. Gallen (HSG) questioned 2633 adults in all language regions of Switzerland from August to September. According to the study authors, the sample is representative.


Related Stories

Stay in Touch


the swiss times
A production of UltraSwiss AG, 6340 Baar, Switzerland
Copyright © 2024 UltraSwiss AG 2024 All rights reserved