In 2023, Russians withdrew a record amount of cash from bank cards—33.3 trillion rubles, up 13% from 2022. RBC reported this figure, citing statistics from the Bank of Russia on card transactions. (Source: Bank of Russia)
The regulator notes that such high growth in cash withdrawals from cards has not been seen in at least a decade. At the same time, the growth rate for card-to-card transfers in 2023 dropped to its ten-year low, reaching 79.3 trillion rubles with an 8% year-over-year increase. (Source: Bank of Russia)
Overall, the total volume of transactions using individual cards in 2023 reached nearly 167 trillion rubles, reflecting a 12% rise from the previous year. By contrast, the year before featured stronger expansion at 16%, and 2021 saw a peak increase of 26%. (Source: Bank of Russia)
Central Bank estimates show that the growth in cash in circulation among Russians by the end of 2023 approached 2 trillion rubles. It rose to 17.91 trillion rubles by early December and climbed further to 374.7 billion rubles by year’s end. A year earlier, this figure stood at 2.28 trillion rubles. (Source: Bank of Russia)
Previously, analysts pointed to notable differences in behavior between men and women when it came to financial habits and card usage. (Source: Bank of Russia)
Earlier discussions also explored why Russians continue to accumulate dollars, highlighting economic and personal finance dynamics that drive currency preferences in times of uncertainty. (Source: Bank of Russia)