With the prominence of online banking and cashless payments in the United States, it can be easy to forget that cash was once king. There are still millions of people around the globe who frequently use cash as their primary means of payment. Even in the US, cash transactions account for more than one hundred billion dollars each year.
Top Five Countries Most Reliant on Cash:
- Romania: With 78% of all payments using cash, Romania still heavily relies on cash transactions every business day.
- Egypt: With nearly 70% of the country not using a bank account, Egypt’s citizens regularly use cash.
- Kazakhstan: With nearly 12 million residents relying on the Kazakhstani Tenge, the economy of Kazakhstan thrives off of cash payments.
- Bulgaria: The 73rd largest economy in the world is able to boom thanks to 63% of residents using cash on a daily basis.
- Ukraine: With one of the highest ratios of ATMs to residents, the Ukrainian people are frequently using paper to cover their expenses.
