A survey by risk management company Third Party Trust found that 24% of people said they don't have cash in their wallet, and 38% use cash every few months or not at all.
The COVID-19 pandemic was the final straw for some people – 19% said they stopped using cash once the pandemic started.
When do people still get cash out of the ATM?
- 66% Just to have it on hand
- 53% They’re going somewhere that only accepts cash
- 28% Tipping
- 14% Discount for paying with cash
- 9% Exchanging it for foreign currency
- 3% Pay for everything with cash.
Third Party Trust surveyed 1,000 people.