Deloitte: Poland enters the phase of economic expansion

The divergence of economic moods in Poland...

Two Years On: War in Ukraine and Its Global Impact

On February 24, 2022, a full-scale Russian...

Poles Love Cash, EU Wants Limits: Clash Ahead?

FINANCEPoles Love Cash, EU Wants Limits: Clash Ahead?

Poland is a country where cashless payments are highly developed. Despite this, Poles love for cash is only growing stronger. In 2023, as many as 38% of Poles chose physical cash as their preferred form of payment when making purchases in retail and service outlets. This is an increase of 6 percentage points compared to the previous year. Meanwhile, cashless payments have seen a decline. Despite the popularity of cash, the topic of its elimination is increasingly revisited. This time, it’s being imposed by the European Union. Should we be worried? An expert from Tavex Company and Euronet Polska explains in a press release.


A study on payment methods preferred by Poles by Tavex shows that the ability to use cash in everyday life remains crucial in our country.

As many as 38% of Poles choose cash as their preferred form of payment when making purchases in retail and service outlets. Physical money is present in every age group. It is most often used by people aged 55-64 years (52%), 65+ (47%) and 25-34 (43%).

Significantly, we observe a substantial increase in the use of cash among the youngest Poles (18-24 years). In 2023, just over 1/5 (23%) of them chose physical cash as their main means of payment. This represents an increase of 18 percentage points within the year.

“Cash in the wallet, regardless of the denomination, gives us independence. It doesn’t require the internet, doesn’t depend on the state of the smartphone’s battery or updating apps. It’s always ready to use, regardless of the circumstances. It also simplifies life for older people who are not as proficient in technology and may struggle with banking systems. As our study shows, we’ll definitely not give up the possibility of having cash. This is not only important from the point of view of our freedom, but also due to the fact that cash payments are a critical element of the country’s payment infrastructure. They not only protect against cyber threats, but also against sudden moves, for example by card organizations, which can appear as commission increases.” – Aleksander Pawlak, CEO of Tavex.

According to the latest research conducted by Opinia24 on behalf of Tavex, almost 9 out of 10 Poles (84%) have physical cash in their wallets, and these are not small amounts. On a daily basis, most respondents carry more than 100 PLN (31%) or an amount in the range of 51-100 PLN (23%).

“There is a lot of discussion about the future of cash, but the key role of cash as a reliable means of payment in, for example, emergency situations when electronic systems fail, should not be forgotten. Additionally, for many people, cash payments symbolize financial security, especially in the context of an increase in the number of cyber attacks and internet scams. The ubiquitous availability of cash makes it a universal means of payment for everyone, regardless of technological skills or social status. In an era of increasing digitalization of everyday life, it is important to ensure equal access to financial transactions for all social groups. In addition, citizens should be guaranteed the possibility to decide whether they want to pay for goods and services with cash or another form, for example by a payment card. This approach is important for preserving individual financial freedom and the autonomy of choice” – comments Dariusz Marcjasz, Country Manager of Euronet Poland.

Limiting Cash Payments in the European Union – What Will Be the Consequences?

Last year, the issue of cash payment limits in Poland concluded. Planned changes were rejected. However, the topic is back again. This time it is considered at the European level.

The European Union plans to introduce new regulations regarding the limitation of cash payments. As part of the directive on preventing money laundering and financing terrorism, there is a plan to introduce a ban on cash payments exceeding 10 thousand euros.

“Introducing a cash payment limit can have negative consequences. First of all, it could limit the freedom of making agreements within the European Union as well as consumers’ freedom in deciding how they want to pay for a selected service. Our study reveals that 95% of Poles believe that the elimination of cash is a detrimental move for the economy and their own security.” – emphasizes Aleksander Pawlak, CEO of Tavex. “It’s also worth noting that many EU member countries already have detailed regulations on recording and registering transactions above a certain sum. In Poland, this threshold is 15 thousand euros. Thanks to this, relevant offices have full information about transactions above this amount. The introduction of restrictions on cash payments may cause such transactions to be carried out outside the borders of the European Union or in the gray zone, making it difficult to monitor them.” He adds.

For both entrepreneurs dealing with, for example, the sale of home appliances, cars or jewelry, and consumers, this solution will involve a range of new difficulties and restrictions. Therefore, it’s worth considering whether there are other, more effective ways of combating money laundering and financing terrorism that do not violate citizens’ freedom and do not lead to a loss of control over the payment market.

Check out our other content
Related Articles
The Latest Articles