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Who Holds Cash? – Cash Product Office – Federal Reserve System

Categories : Cash is universal
June 20, 2016
Published in : Banknote/Note, North America, Universality, US, Usage
64.2% of the US population always hold cash and 89% hold cash to some extent.
Guillaume Lepecq

Using data from the 2012 Diary of Consumer Payment Choice [1] (DCPC) this paper analyses and segments the groups of people who hold cash in the US.

The DCPC shows that 64.2% of the US population always hold cash and 89% hold cash to some extent. The first group only partially overlaps with the 30% who prefer cash as their primary payment instrument.

The research further segments the group of people who always hold cash and concludes that out of a total of 64.2% :


At the other end of the spectrum, 10.1% of the population never hold cash. This group can be broken down into three segments:



[1] The 2012 DCPC was a joint project by the Federal Reserve Bank of Boston’s Consumer Payments Research Center (CPRC), the Federal Reserve’s Cash Product Office in San Francisco (CPO), and the Federal Reserve Bank of Richmond’s Payments Studies Group (PSG). It is used as a benchmark for the CPRC’s Survey of Consumer Payment Choice as well as a tool for strategic planning and economic analysis.

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