In Spain, according to the Denaria platform, Cash remains one of the preferred methods of paying for goods and services for Spaniards, maintaining the post-pandemic recovery path and defying signs of its demise.
💸 Usage #cash: strengthens its position as a means of payment among Spaniards.
￫ Cash continues its post-pandemic recovery, defying signs of its demise.
🗞️ https://t.co/3z944PQYDr pic.twitter.com/sJuoXwhTnA
— Denaria Platform (@DenariaPlatform) January 4, 2023
In a recent statement from the platform dedicated to protecting cash, They noted that in the third quarter of the year, cash withdrawals from ATMs of financial institutions registered a 5% increase, reaching the level of 30,668 million euros, according to data from the Bank of Spain.
In this regard, Denaria points out that the number of ATM withdrawals increased by 1.35% to 173.5 million. “They do not include over-the-counter withdrawals, which are becoming less and less available due to office closings and limited subject hours.”they said
As for the average amount, or the average amount withdrawn, it remains practically stable. In its statement, Denaria said it stood at 177 euros at the end of September, slightly higher than the average of 174 euros in the first and second quarters.
These figures, according to their sources, indicate that cash has recovered in the wake of the epidemic, when health authorities recommended the use of cards as a means of payment to reduce contagion. “Physical money and payment cards are currently used at the same level, according to various studies”they pointed.
Finally, it is noteworthy that during the same period, card purchases slowed growth by almost ten points, to 15.35% in advance, compared to 25.05% in the second quarter. “The number of card purchase operations was 1,937 million euros with a total cost of 62,199 million euros.”they added.
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