Cash withdrawals continue to decrease

The Swedes are using less and less cash. During the second half of 2024, it averaged 396 kronor per person per month – a decrease of 7 percent compared to 2023.

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Cash withdrawals continue to decrease
Photo: isabell Höjman/TT

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The statistics, which are based on withdrawals from Bankomat's cash machines, show that the decrease is less than the historical average. It averages around ten percent annually when it comes to withdrawals of cash.

"It may be that the rapid decline in cash withdrawals that we have seen for a long time is starting to level out. A possible explanation for this is that most people who can and want to switch to digital payments have already done so. For those who use cash, it is still important that the option exists", says Johan Nilsson, marketing manager for the company Bankomat in a press release.

The deposits also decreased slightly, from 175 kronor per person and month in 2023 to 164 kronor.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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