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Use of cash by companies in the euro area

It is our mission to make sure that cash remains widely available, accessible and accepted as a means of payment. It is easier for us to do this if we have a good understanding of how cash is used in the euro area.

The ECB survey on the use of cash by euro area companies helps us understand what companies think about cash, providing insights into how they use it, their willingness to accept it and how they anticipate this developing in the future. It also sheds light on the ways companies withdraw and deposit cash.

Survey results - 2024

Do companies accept cash?

Cash remains widely accepted by companies across the euro area. However, between 2021 and 2024 cash acceptance decreased from 96% to 88%, owing to – among other things – people using cash less. 94% of firms that currently accept cash intend to continue doing so.

What do companies think about different payment methods?

A third of companies prefer their customers to pay with card, while a quarter of firms favour cash payments. Since 2021 the proportion of companies that prefer credit transfers has increased by five percentage points, while preferences for direct debits have increased by six percentage points.

What makes companies accept a payment method?

Security and reliability remain the most important reasons for companies accepting a means of payment. Companies see cash as more cost-effective, reliable and private than cards and mobile payments. These findings are broadly unchanged compared with the 2021 survey results.

How do companies withdraw and deposit cash?

Most companies that deposit cash continue to do so directly at banks via self-service machines or at bank counters. And companies that withdraw cash, usually to ensure that they have enough change, still tend to do so via bank counters or ATMs.

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Full release

The full report contains a more detailed assessment of how companies use cash.

Read the report

About the survey

This survey, first conducted in 2021, examines how companies in the euro area view cash, while also offering insights into how they use it.

It specifically collects data on the current and future usage and acceptance of cash by euro area companies, while also shedding light on companies’ preferred payment methods, their criteria for deciding which payment methods to accept and their deposit and withdrawal behaviour.

The data for the 2024 survey were collected between February and March 2024 by Verian.

If you have any questions about the survey, contact banknotes1@ecb.int. 

Aggregate statistics

Want to learn more?

CHECK OUT RELATED PUBLICATIONS

The Eurosystem cash strategy

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2021 Use of cash by companies in the euro area

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The use of cash by households in the euro area

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