The Bank of Canada surveys Canadian consumers to get a better understanding of how they pay for goods and services. The Methods-of-Payment survey provides a representative snapshot of Canadians’ payment choices, with a focus on cash use.
As Canada’s sole issuer of bank notes, it is important for the Bank to understand the rapidly evolving payments landscape. The Methods-of-Payment survey was conducted in 2009, 2013, 2017, 2021, 2022, 2023 and 2024.
This survey includes a questionnaire and a diary where participants record their payments and cash withdrawals over the course of three days. Using this information, we calculate the share of payments made with cash, credit cards, debit cards and other methods.
The payment choices of consumers and merchants are a two-way street. If you are interested in the payment methods accepted by small and medium-sized businesses, check out the latest Merchant Acceptance Survey.
Latest results
- Cash use has been relatively stable since 2020, with bank notes being used for about 20% of point-of-sale purchases, accounting for 11% of the value of all transactions.
- Canadians held more cash in 2024, at about $156. However, once adjusted for inflation, their cash holdings had about the same purchasing power as in previous years.
- Mobile payments are becoming more popular at the point of sale, representing almost 5% of transactions.
To learn more about how Canadians pay, and their views on cash and cards, read the full survey report.
Cash on hand and ABM withdrawals
| Year | Average cash on hand ($) | No cash on hand (%) | Average ABM withdrawal ($) | Average ABM withdrawals per month (qty) | Made an ABM withdrawal in the past week (%) |
|---|---|---|---|---|---|
| 2009 | 72 | 5 | 113 | 4.3 | 50 |
| 2013 | 81 | 6 | 118 | 2.7 | 37 |
| 2017 | 106 | 11 | 140 | 2.3 | 27 |
| 2021 | 127 | 25 | 154 | 1.6 | 28 |
| 2022 | 130 | 21 | 156 | 1.7 | 29 |
| 2023 | 140 | 20 | 154 | 1.7 | 30 |
| 2024 | 156 | 21 | 176 | 2.1 | 32 |
Note: For the 2024 report, a new cleaning method was applied to 2021–24 cash withdrawal data, and thus estimates published in prior reports may vary slightly from those shown in this table.