Tuesday, September 26, 2023

Around 65% of Spaniards continue to use cash to carry out their normal tasks

A recent study by Nickel, an alternative account to traditional banking, found that despite the growing use of digital payments, cash remains the most widely used form of payment by Spaniards.

According to the report, the title “Spaniards’ Perceptions and Habits about the Banking Sector”, Nearly two-thirds (64.5%) of those surveyed said they continue to use cash for their daily operations, while only 24% exclusively use payment cards.

studies have shown Spending control is the main reason why more than 43% of Spaniards prefer to use cash, Being able to clearly and concretely visualize their personal budget when paying cash gives them a greater awareness of their spending.

Furthermore, privacy is also seen as an important advantage of cash, with 32.3% of respondents feeling that they do not need to share their money with third parties.

however, Access to cash has become more complicated due to frequent closure of bank branches and shortage of ATMs in various regions of the country.

More than 80% of those surveyed have experienced this situation in their locality, affecting almost one in four Spaniards, who are forced to travel by public or private transport to the nearest branch to make a cash transaction. Are.

Although measures have been taken to improve access to cash, especially in rural areas and among the elderly, The study shows that less than 10% of those surveyed believe that there has been an improvement in the past five years. This lack of progress highlights the need to address cash availability in these areas with the aim of ensuring financial inclusion for all citizens.

The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be construed as financial advice or investment recommendation. All investments and commercial dealings involve risk and it is the responsibility of each individual to conduct appropriate research before making any investment decision.

World Nation News Desk
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