Cash in the UK 2020 – Survey Results

Enryo, a financial services consultancy, conducted four public surveys of over 2,000 people in the UK from April 2020 to January 2021 and an additional survey in March 2021. It has just issued its report and presented a webinar of its results.

Enryo’s work suggests that cash transactions fell from 7.2 billion in 2019 to 3.4 billion in 2020, a 53% drop. Part of this reduction is, of course, due to fewer transactions. The Bank of England’s Clearing House Automated Payment System data from 14 January 2021 showed that aggregate debit and credit card purchases were down 35% on February 2020. Enryo’s survey data was in line with this, showing a 34% drop in day-to-day transactions but a 41% increase in online purchases.