In Slovenia, Malta, Austria and Italy, the share of cash payments is still over 60%, whereas this is less than 30% in Finland and the Netherlands (see Figure 1). The ECB's previous survey, from 2022, showed that 59% of POS payments in euro area countries were made in cash.
Germany and Austria stand out as frontrunners in cash usage, with staggering statistics reflecting their reliance on tangible currency. Cash accounts for approximately 71% of transactions in Germany and 79% in Austria. Cultural factors deeply embedded in both societies contribute to this preference for cash.
How much cash should you take to Europe? While card payments are widely accepted in most European cities, it's still smart to carry some euros—especially for transport, tips, small purchases and rural areas where cash is king. As a general guide, we recommend starting your trip with €2,000 in cash.
Cash is Still King in Europe, but Declining Rapidly. While industry narratives often downplay the role of cash, cash remains a significant payment method at the European point-of-sale (POS). However, European policy initiatives present a unique contrast with concerted governmental efforts to reduce cash usage.
Hong Kong. Hong Kong is quickly heading towards a cashless society, with initial predictions even suggesting that 2025 could be the year that the country goes fully cash-free. ...
Sweden. Sweden is one of the countries at the forefront of the cashless movement. ...
UK Finance research has shown that 39% of adults live an almost cashless life. As well as predicting that cash payments in the UK will continue to decline, and that by 2031, cash will account for 6% of all payments.
At present, cash continues to be the most common means of payment for purchases in physical shops in Spain and is still widely used in Spanish society. Looking ahead, consumers' expectations show signs of a moderate shift in their payment habits towards digital means of payment.
Wherever you wander in Europe, it's wise to travel with cash euros. While ATMs and card facilities are widespread across the continent, this cannot always be relied upon. Some countries or areas off the beaten track have yet to fully embrace card payments, so cash means you won't get caught short.
While it can seem like cash is a relic of the past, it's still in fact the most common means of payment (at POS) across the EUR area, accounting for 52% of payments.
72% of 16-24 year olds now regularly use mobile payment services. This increase is reflected across all age groups, with 27% of those aged 45-54 now also regularly using this method. However, cash still remains a popular choice for making payments. Cash was used in a fifth of shop transactions last year.
Do customers in Germany prefer to pay in cash or by card? Payment behavior in Germany has changed significantly in recent years. According to the study “Payment behavior in Germany 2023” by Deutsche Bundesbank, cash continues to be the most commonly used method for transactions.
Cash. While many European countries have embraced alternative payment methods, cash remains the most common payment method in Italy. It's especially popular for purchases of €60 or less. The European Central Bank estimates that Italian customers use cash for 86% of in-person transactions.
Around the world, cards and apps are the default way to pay – but nowhere is the transition away from cash more obvious than in Sweden. The Bank of Sweden notes that the amount of cash in circulation in the country has halved since 2007.
According to media reports, Europe's trend of using cashless payment for goods rose during lockdown, with Visa recently hitting its one billionth contactless transaction. Yet many European nations were already well on the way towards being “cashless” before coronavirus.
Most places will accept cards or some other type of cashless payment. But even though big cities are very card-friendly, it's good to have at least some change on you. If you have to choose one or the other, choose cash. The Portuguese prefer it, so that would be your safest choice.
While cards are widely accepted across Finland, it's a good idea to carry some cash for small purchases, tips, or when visiting rural areas where card payments might not be accepted. Around 100-150 euros should cover smaller expenses. If you need more cash, ATMs are easily accessible throughout Finland.
In Belgium, the price of your meal or taxi ride includes the service charge. As a result, you do not have to leave a tip. However, you may if you received good service. You can give cash to your waiter or taxi driver or ask them to round the amount up to a higher figure if you are paying by card.
How much cash should I bring to Europe for 2 weeks?
A good rule of thumb is to carry $50-$100 a day in the local currency while travelling. Remember, though, that cash may not be the best option to pay for travel expenses. Credit cards offer great rewards, lower transaction fees, and can help you get a better exchange rate.
While most places accept contactless payments with a debit or credit card, it's always useful to have cash for tips, small purchases and at markets. If you're planning to go off the beaten track, say hiking in Andalucia or Tenerife, cafes and shops may not accept card payments so it's better to take some cash.
If you plan on visiting some of France's larger cities, such as Paris or Cannes, you'll probably be able to use your card for everything. Cashless payments are also much more convenient, since some French cities are notorious for their number of pickpockets. However, it's always good to have at least some cash on you.
According to the Swedish central bank, only 8% of the population used cash in 2022, and the amount of physical currency in circulation has dropped by half since 2007. With digital wallets, instant mobile transfers, and biometric identification, daily transactions in Sweden have become almost entirely virtual.
A commonly asked question is 'Do I need to carry cash in Switzerland? ' The simple answer is – in most cases – no however I believe it's always a good idea to have a small amount of cash with you for purchases such as a coffee or ice cream or for luggage storage lockers at train stations.
Tipping in Spain is very different from tipping in North America. Rather than being expected and almost mandatory, tipping is a reward for exceptional service. It's appreciated and is commonplace across the hospitality sector, at restaurants, tapas bars, and beach clubs in places from Bilbao to Barcelona.
