How do Canadians perceive access to cash?

Heng Chen, Daneal O’Habib and Hongyu Xiao

No 2024-24, Staff Analytical Notes from Bank of Canada

Abstract: This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. The results reveal strong alignment between subjective perceptions and distance-based metrics, with most Canadians reporting easy access to cash sources. Those who reported lower perceived cash accessibility need to travel longer distances and tend to be young, university-educated, low-income, unemployed or cashless.

Keywords: Financial services; Regional economic developments (search for similar items in EconPapers)
JEL-codes: J15 O1 R51 (search for similar items in EconPapers)
Date: 2024-10
New Economics Papers: this item is included in nep-ban and nep-pay
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