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.

» Published:

Cash withdrawals continue to decrease
Photo: isabell Höjman/TT

Share this article

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.

Tags

Author

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

More news

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Saving in New Ways

Swedish Households Shift from Borrowing to Saving in New Ways

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Stockholm Stock Exchange Opens with Slight Gains

Stockholm Stock Exchange Opens with Slight Gains

Gold Certificate Company Lists on Stockholm Stock Exchange

Gold Certificate Company Lists on Stockholm Stock Exchange

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices