Cash Use in Australia

Eden Hatzvi, Jessica Meredith and Rose Kenney
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Eden Hatzvi: Reserve Bank of Australia
Jessica Meredith: Reserve Bank of Australia
Rose Kenney: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2014, 43-54

Abstract: This article uses results from the 2013 Survey of Consumers’ Use of Payment Methods and regression analysis to examine trends in cash use in Australia. The results show that cash remained the most common form of payment, though its use relative to other payment methods has declined over recent years. Older participants were more likely to use cash than younger participants and all participants were more likely to use cash for low-value transactions relative to other payment methods. In addition, participants were asked about their holdings of banknotes in their ‘wallet’ (i.e. on their person) and elsewhere, with the results suggesting that cash – particularly high-value denominations – was being used as a store of value and not just for transactional purposes.

Keywords: Cash; Cash use; Cash transactions; Banknote holdings; Banknote; Banknotes; Payments; Payments survey; Transaction diary; Payment methods; Payments use study; Survey of Consumers’ Use of Payment Methods; Probit regression; Tobit regression; Demographics and cash (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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