40% prefer to receive cashMoney in physical form such as banknotes and coins. More

40% of the LINK survey respondents prefer to receive cash as a gift compared to 29% who prefer a bank transfer into their account. This is followed by gift cards with 14% and cheques 4%. However, 8% said they don’t like to receive moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More as a Christmas gift in any form.

Cash also proves popular across all age ranges including Generation Z and Millennials. 45% of 16–24-year-olds surveyed preferring cash as a Christmas present compared to a bank transfer (36%). 43% of 25-39 year-olds prefer cash compared to 36% who prefer to have it paid directly into their account.

40% prefer to give cash

The data also shows people prefer to give cash as a gift as well, with 40% saying they’d give cash followed by gift cards (26%) and bank transfers (20%).

According to the research, when asked to choose from a given list what the top reasons for giving cash as a Christmas present were:

• That the recipient can use it to buy whatever they want (44%)
• That it can be spent anywhere, unlike gift cards or vouchers. 42% said that they prefer cash for this reason.
• That gift cards can be risky as the future of some shops is unknown at the moment. Nearly a quarter (23%) said they preferred cash for this reason.

£42 for family and £18 for friends

Respondents would also give more cash to a closer family member or loved one, than they would to a friend. Among those who would give cash as a Christmas gift, the average amount they’d give to a family member is £42, compared to only £18 for a friend.

We’re happier with cash as a gift

Graham Mott, Director of Strategy, LINK, said “The nation has spoken and for anyone stuck for a last-minute gift, it looks like we’re happier with cash as a gift rather than a bank transfer or other ways to give money. Cash is tactile and seems more personal than a digital paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More and to be honest, the new polymerA substrate used in the printing of banknotes, made of biaxially oriented polypropylene (BOPP) polymer. Polymer banknotes were first introduced in Australia and are widely used around the world. More notes are pretty smart.”

Cash Etiquette

For some however, giving cash may be perceived as unimaginative, unthoughtful or even downright lazy. As always, the internet provides solutions to problems most people never had. This blog provides fascinating advice on the subtle etiquette of giving and receiving cash. One essential takeaway: “Generally, it’s not cool to give financial gifts to your significant other for any occasion.”

For those who lack creativity, there are countless ideas online for inventive ways to give cash; you can find tutorials for anything from banknotes frozen inside giant ice cubes to cash-filled chocolate boxes. This tutorial will teach you how to make a notepad out of banknotes.

Happy Holidays!

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