Poles use cash less and less often

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There is no denying that modern banking is becoming more and more popular in Poland. Young Poles are particularly interested in mobile financial management. Seniors still choose cash. However, the statistics speak clearly: Poland will be more and more cashless. And I think we should be happy about that, because our money will finally be completely safe.

What do the statistics tell us?

As many as 21% of Poles confirm that during the last 6 months they used cash much less frequently. 33% of respondents do not carry any cash in their wallet at all. In the coming months, they still intend to carry out non-cash transactions in the first place. It is also pleasing that more and more seniors are opening bank accounts and are willing to use payment cards, which are assigned to the basic product of the bank, which is a personal account.

The future of traditional money is a big question mark. Most people appreciate the comfort and safety of using banking services and depositing funds on accounts. Financial awareness and the need for development in line with innovative technologies is also growing. In this respect, Poland is a leader.

Forecasts for the future

Did you know that financial market experts confirm that by 2021 payment card transactions will be processed much more frequently than cash payments? It is almost certain that most Poles will have a personal account with an available online platform.

ATMs and traditional bank branches will also be less and less popular. On the other hand, we are going to use payment machines more and more often. Young people want to manage their finances through an online personal account. Such accounts allow not only for payments, but also for contact with specialists working in a bank, taking out cash loans or investing.

Why should I give up cash?

The reason is simple. The money deposited in the bank is much more secure. Having a personal account, we also have a chance to manage the collected funds in a much more convenient way.

There is no denying that non-cash transactions are faster than traditional transactions. If anyone else is concerned about the flow of personal data or the loss of funds credited to your account, we will calm you down. It's not possible. Personal account hacking happens much less often than stealing a wallet with cash on the streets of cities.

Will we catch up with Sweden?

Sweden is undoubtedly the leader when it comes to giving up cash. Did you know that even a street newspaper retailer has a payment terminal in this country? Some shops have posted information that cash purchases will not be made. Most Swedes admit that they have not used the traditional form of money for a long time.