Approximately 80 percent of Spaniards oppose removing cash from circulation, a share that climbs toward 90 percent among people over 65. The finding comes from a GAD3 survey conducted for Denaria and released this week. This statistic signals a broad attachment to cash that transcends age, suggesting that many citizens view physical money as a bulwark against informational exposure and as a trusted fallback in everyday transactions. (GAD3, 2024; Denaria)
The survey was commissioned by Denaria, a nonprofit association advocating cash as a social and public good, and was conducted by telephone and online among roughly one thousand respondents in October. It reports a margin of error of 3.2 percentage points and a confidence level of 95.5 percent. (Denaria, 2024)
According to the conclusions, nine out of ten Spaniards defend the practicality of keeping cash to protect privacy. Eighty-six percent view cash as useful for reducing fraud risk, and eight in ten respondents say cash helps control spending and remains a payment method that always works. (GAD3, 2024)
In 2024, concerns about the risks tied to digital payments increased, especially regarding location exposure, with about 75 percent of respondents perceiving this risk. Yet the dominant worry continues to be the exposure of personal data and bank balances. (GAD3, 2024)
In presenting the survey, Denaria’s president, Javier Rupérez, noted that the work helps sharpen their defense of cash. He emphasized that while they are not opposed to digital options, maintaining a healthy economy would be difficult without cash. (Denaria, 2024)
The survey also reveals that 85 percent of Spaniards believe cash is a necessary payment method, a share that has risen since 2021 when it stood at 72 percent. However, in 2024, the perceived difficulty of accessing cash sits at 61 percent, only three points higher than three years earlier, indicating a stubborn demand for tangible money across generations. (GAD3, 2024)
“People do not want to lose the security cash provides,” commented Narciso Michavila, president of GAD3, during the presentation. He added that rural areas show higher cash penetration precisely because of this sense of security. (GAD3)
When it comes to payment methods, 57 percent of respondents say the credit or debit card is their preferred method, reaching a record high in 2024, while only about one in three prioritizes cash. (GAD3, 2024)
Thus, the study notes that 40 percent of those over 65 say cash is their habitual payment method, whereas only 27 percent of people aged 18 to 29 rate it as their preferred method. (GAD3, 2024)
In this regard, the survey highlights that 40 percent of Spaniards consider digital payment methods still relatively insecure, a distrust that has grown in recent years. The analysis notes that many have experienced a cyber scam or know someone who has been affected. (GAD3)
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Finally, only 29 percent believe public administrations in Spain actively promote the continued use of cash, while eight in ten people see the Bank of Spain as the primary defender of cash. (Denaria, 2024)