Three out of four Czechs withdraw cash only for security, most commonly once a month

According to a survey conducted by the polling agency Ipsos, only a quarter of Czechs withdraws cash from ATMs more than once a month. The vast majority of respondents stated that they take out money only for security reasons, such as having cash on hand in an emergency, or because certain places only accept cash as payment.

The survey also found that the younger generation tends to use cashless payment methods more frequently, with 38% of respondents aged 18-24 stating that they prefer to pay with cards or through mobile payment systems. In contrast, among those over 55 years old, only 13% selected cashless payment methods.

Additionally, the survey revealed that more than half of Czechs (54%) do not carry more than 500 CZK (around 23 USD) in cash on them, while only 11% have more than 2,000 CZK (around 92 USD).

The Covid-19 pandemic has also impacted cash usage, with 18% of respondents saying they use cash less frequently due to hygiene concerns.