OTTAWA — A new survey from the Bank of Canada shows Canadians are keeping more cash in their wallets in an increasingly digital world.

The central bank said Thursday that its 2024 survey on payment methods shows Canadians kept an average of $156 in cash on hand, $16 more than in 2023.

Adjusted for inflation, the Bank of Canada said the value of cash on hand has been "quite stable" since 2017 despite small variations over the COVID-19 pandemic.

The survey showed customers are using ATMs and bank branches more often, however, and also taking more cash out per withdrawal.

Broken down by age group, those 55 and older were most likely to have cash on their person at 86.8 per cent, more than 10 percentage points higher than other demographics.

But it was the youngest surveyed cohort, those

See Full Page