85% of Spaniards oppose the disappearance of cash. This feeling intensifies among those over 65 years of age (89%) and households with incomes of less than 1,200 euros per month (88%)—approximately 8 million people—according to the Survey on the accessibility and permanence of cash published this Thursday by the consulting firm GAD3 for the Denaria platform, the lobby of security and cash transportation companies. The exposure of personal data and the balance in the accounts stand out among the risks that most concern those consulted in relation to digital payment methods. Despite these fears, the credit or debit card continues to be the most used form of payment by Spaniards, reaching its maximum in the historical series in 2024 with 57%, while a third of the population uses cash daily.
Cash refuses to disappear, it endures the appearance of other payment methods such as Bizumor mobile wallets—like Apple or Google Pay—, it has even recovered from the Covid crisis, during which it was even recommended to reduce its use. 92% of those who consider it important advocate for their privacy, this is the highest percentage recorded since 2021, the year of publication of the first edition of this study. Other reasons why they prefer this form of payment are the reduction of fraud risks (86%), its reliability, given that “it always works” (84%), and greater ease of controlling expenses (78%). . Along these lines, in addition to the reluctance to share personal data and balance, respondents are concerned that paying with digital means implies exposing their location (75%) and their purchasing habits (67%).
Income level is a determining variable to analyze payment habits. People with the lowest income are the only group that prefers cash over any other method, by 51%. A figure that plummets by 19 percentage points among those who make up the next step, who earn between 1,200 and 2,500 euros per month. This trend, in which cards and other digital media gain ground over cash, is growing as wages increase. Only one in five people who earn more than 3,500 euros uses bills and coins.
A third of the population withdraws cash daily from ATMs, while 40% do so once a week. The frequency is higher among the elderly and those who have ATMs nearby, and is lower among people with disabilities. Furthermore, the survey highlights that more than half of Spaniards consider that the limit of 1,000 euros for cash payments is too strict and violates their rights.
Regarding accessibility, GAD3 has identified an uptick in the perception of difficulty in obtaining cash in 2024. According to the latest data published by the Financial Inclusion Observatory of the Valencian Institute of Economic Research (IVIE), financial exclusion still affects in Spain to more than half of the municipalities (4,401). The rural nature and size of the towns that do not have a bank branch means that the affected population barely accounts for 3.3% of the total. If access to ATMs is added, there are 3,885 municipalities (1,119,681 inhabitants) that lack both points.
In this sense, this Thursday’s survey shows that 95% of the population supports expanding the installation of ATMs in urban centers that do not have them. While other initiatives, such as the cash distribution service through the Post Office (70%) or cash back (68%)—for businesses to act as withdrawal points—are also highly supported.
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