Business · Economy · 12 hrs ago
More Russians say they prefer keeping savings in cash
A September 2026 survey found that 37% of Russians preferred keeping savings in cash, while 38% preferred bank accounts.
The survey, conducted for Russia’s central bank, showed the gap between the two groups had narrowed to one percentage point.
Central Bank head Elvira Nabiullina said cash use had risen, possibly because of tax changes and problems with cashless payments.
She said withdrawing cash does not add to the total money people can spend; it only changes how they hold it.
Cash can be used when internet or payment systems are unavailable, but money kept at home earns no interest and can lose value as prices rise or be stolen or destroyed.
Bank accounts and deposits may earn interest, depending on their terms, so people can keep some cash while placing the rest according to their needs.
A September 2026 survey found that 37% of Russians preferred keeping savings in cash, up from 32% a year earlier.
The share preferring bank accounts fell to 38% from 43%, narrowing the gap between the two choices to one percentage point.
Another 10% said they preferred dividing their savings between cash and an account.
Bank of Russia Governor Elvira Nabiullina said cash demand had risen and cited adaptation to tax changes and difficulties with cashless payments as possible reasons.
Nabiullina said withdrawing money changes its form of storage but does not create additional demand in the economy.
- Who
- Russians surveyed by inFOM for the Bank of Russia.
- What
- More respondents said they preferred keeping savings in cash, while support for bank accounts fell.
- When
- The survey was conducted in September 2026; comparisons were made with September 2025.
- Where
- Russia.
- Why
- Possible reasons for increased cash demand include adapting to tax changes and difficulties with cashless payments, according to Nabiullina.
Cash preference
Bank-account preference
Preferred storage
Cash preference
Support rose to 37% in September 2026, from 32% a year earlier.
Bank-account preference
Support fell to 38%, from 43% a year earlier.
32% of respondents preferred cash, 43% preferred bank accounts and 9% preferred a combination.
Nabiullina said demand for cash had risen and named possible reasons for the increase.
The survey found that 37% preferred cash, 38% preferred bank accounts and 10% preferred a combination.
- Cash preference
- 37% in September 2026, up from 32% a year earlier
- Bank-account preference
- 38% in September 2026, down from 43%
- Combined preference
- 10% in September 2026, up from 9%
- Cash share of money supply
- Rose from 14% to 14.4%, according to data cited at a press conference
Sources
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