Millions still rely on cash for ‘control and privacy’ while more of us are prepping for major disruption by keeping emergency stash at home

Cash usage has shrunk this year but has still been used by three in five people in the past two weeks, exclusive data for This is Money shows.

Meanwhile, nearly a quarter of retailers now no longer accept cash – with 14 per cent scrapping physical money acceptance in the past year, the Link Cash Index tracker shows.

It found 61 per cent of people used cash in the past two weeks, down from 69 per cent last year and 73 per cent in 2024.

Contactless cards at 42 per cent and phone payments at 30 per cent are the favourite way of making day-to-day payments.

Meanwhile, 13 per cent still prefer to pay in cash. This rises to 16 per cent of over 55s preferring this method versus 9 per cent of those aged 35-44.

The favorite places to use cash are supermarkets, convenience stores, giving money to friends and family, cafes and pubs.

However, at all of these, cash use has been falling since the last time this was measured, in June 2025, with convenience stores seeing the sharpest fall, down from 26 per cent to 19 per cent.

Pub cash spend meanwhile had the smallest fall, from 15 per cent to 13 per cent.

Nearly half of people say retailers refusing cash is inconvenient and of these, 42 per cent of these think cash should be accepted as a matter of principle.

The research also found many people choose cash because they like the experience, want control over budgeting, value privacy and as a point of principle.

And while one in 10 now say they are fully cashless, 56 per cent believe cash is vital in the event of digital payment outages.

The research asked people about contingency planning in case of a major disruptive event such as a power outage, IT failure, natural disaster or cyber-attack.

It revealed in a disruptive event to digital payment networks resulting in card or mobile payments not being accepted in shops, 17 per cent stash cash at home specifically for this type of scenario.

Meanwhile 54 per cent would withdraw cash, 41 per cent would use cash on hand and 36 per cent would use cash that they have at home.

Among those who have taken steps to prepare for major disruption, nearly a quarter have taken some type of action in the last three months – this includes having a battery powered torch at hand, buying more tinned goods and having a power bank at home.

Data from Link shows people withdrew almost £80billion from cash machines in 2025, representing an average of £1,350 per adult. The survey is from YouGov and of 2,137 adults.

Graham Mott, director of strategy at Link, said: ‘Cash continues to play an important role in the UK’s payment landscape.

‘While digital payments, like cards or increasingly, using your phone, are now the first choice for many, millions of people still rely on cash, not just for budgeting and day to day purchases, but also because they value choice, privacy and control.

‘What’s interesting to see in the latest data is the growing role of cash in resilience planning.

‘ With rising public concern about threats like power outages, cyber-attacks and disruption to card payments, more people are prepping by keeping some emergency cash at home.’