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  • Frank Tian

Cash In Wallet

๐Ÿ’ต How much cash do you have in your wallet?

And how much is outside your wallet?

Here is the latest report from the Fed:

๐Ÿ‘‰ Cash Use

Over the past 6 years, the cash use % has been decreasing.

Credit card picks up most of the share cash lost.

The pandemic further limits cash use, especially for small $ payments.

As the economy reopens, the cash use % slightly rebounds in 2021.

๐Ÿ‘‰ Cash Holding

Cash holding is still high compared to pre-pandemic years.

People likely reduce visits to ATMs and keep cash for uncertainty.

The average cash in the wallet is $67.

The average cash outside the wallet is $347.

Cash will continue to be an important payment form in the US.

Especially for households with low income.


Fed cash report

Tal Schwartz reports a similar phenomenon in Canada in his latest post.

Which is part of his excellent Canadian Fintech Newsletter.


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