Cash money as a safety net

• 57% of the population uses cash for their purchases in stores
• Cards are losing ground to electronic devices, such as mobile phones
• The proportion of those who keep banknotes and coins at home for unforeseen events or failures like a blackout is growing

A few years ago, most people preferred cash to pay for and make their day-to-day purchases. Today, with a smaller proportion using it, but still above half, the objective is different, and the option of cash has more to do with turning it into a kind of safety net to face unforeseen events. An important reason is to deal with electronic failures, such as the one caused by the blackout the country suffered on April 28th of last year. Back then, many discovered that it is important to keep cash at home because many ATMs, the main way to obtain money (80% of the citizenry claims to use them habitually); and many card terminals stopped working for hours.

The fact is that 57% of the Spanish population uses cash as their main means of payment in shops, exactly the same proportion as last year, according to the Study on habits in the use of cash 2026 from the Bank of Spain. These are usually small amounts because, furthermore, cash payment is limited to 1,000 euros when a professional or company is involved in the transaction. The trend, in any case, is slightly downwards, but not rapidly, since five years ago, in 2022, the proportion was 60%. But, at that time, the idea of doing so as a security measure in case a blackout or similar prevented obtaining cash was not as deeply rooted as it is today.

According to all experts, cash will coexist with the rest of the payment methods for many more years. Despite the growth of stablecoins such as Qivalis (created to control the infrastructures through which electronic money circulates and to reduce the weight of the dollar and the United States) or the future digital euro (to counteract the strength of private players Visa or Mastercard), cash continues to be important. 92% of the surveyed population rejects a society without cash, four percentage points more than in 2025.

The fact is that around half of the population uses cash for daily expenses, the same as last year. In any case, the percentage of those who keep an amount to face unforeseen events increases, going from 32% to 36%, and those who keep cash as a complementary form of savings, which grows from 8% to 10%. It must be taken into account that, unlike electronic channels, cash leaves no trace and privacy is maintained.

In any case, an option that is gaining ground is that of electronic devices, essentially mobile phones, which are used by 18% of buyers as their main means of paying in shops and other services, three points more than the previous year. But the evolution has been accelerated, since five years ago only 3.7% used them, according to data from the Bank of Spain. Cards, for their part, are falling back, from 27% to 25%. Five years ago, more than a third of the population used them. And in payments between individuals, cash is at a similar level, 58%; while Bizum accounts for 36%. The boost in electronic money is also linked to the boom in online commerce.

The Bank of Spain has based its study on 5,038 interviews with citizens and 1,619 with small businesses and hospitality establishments. All of this serves to analyze the evolution of payment habits of the Spanish population and the role played by different means of payment, with special attention to cash. This shows how the population pays and how small businesses receive and manage payments.

Advantages of cash

In general, users see advantages to using cash. 71% highlight its usefulness as protection against electronic failures and fraud, compared to the 62% recorded a year earlier. And 67% value privacy as one of its main advantages, 11 percentage points more than in 2025.

According to the study, age is also an important factor. Cash is, by far, the primary means among those over 65 years old. For their part, mobile devices are the favorites for 48% of young people between 18 and 24 years old, compared to 2% of those over 65. The bank card, on the other hand, shows a more homogeneous pattern across generations. Also, the higher the user's level of education and training, the more electronic means they carry.

Banknotes and coins are accepted practically universally in shops, the hospitality industry, and other personal services. Physical cards in 91% of businesses and mobile devices in 87%. The majority perceive a gradual evolution towards greater use of electronic means.