Germany
Election trend
Parties

Should cash be abolished?

Poll results

Should cash be abolished?
Support
Reject
Don't know
57%
81%
4%
PolitPro Community – 3972 respondents – 09.11.2023-16.11.2023

Poll information

Should cash be abolished? 57% of respondents were in favor of abolishing cash, while 81% were against.

:undecided% chose the answer "Don't know". The survey was conducted among 3972 users of the PolitPro app during 09.11.2023-16.11.2023. The results are not representative, but may give a rough idea of the political mood around the issue.

Pros - What's in favor?

  1. Security: Abolishing cash could increase security, as electronic payments are more traceable and can reduce the risk of theft, robbery and money laundering. Using electronic payment methods such as credit cards or mobile payment systems can better monitor transactions and detect suspicious activity more quickly.
  2. Efficiency: electronic payments are faster and more efficient than cash transactions. Handling cash requires time and resources, both for businesses and consumers. Eliminating cash could speed up payment processes and reduce costs.
  3. Combating undeclared work and tax evasion: Electronic payments are easier to track and offer better control over financial transactions. This could help curb undeclared work and tax evasion, as illegal activities could be carried out less inconspicuously.

Cons - What's against it?

  1. Privacy: cash transactions allow people to remain anonymous and keep their financial activities confidential. Abolishing cash could affect the privacy of citizens, as every transaction could be digitally recorded and potentially monitored by government institutions.
  2. Accessibility: not all people have access to electronic payment methods or are familiar with using such technologies. Elderly people, those with low incomes, or those in rural areas may have difficulty switching to electronic payments. The elimination of cash could therefore lead to the exclusion of certain population groups.
  3. Dependence on technology: Electronic payments are dependent on a functioning technological infrastructure. Disruptions to the payment system or cyberattacks could lead to failures and make it more difficult to access funds. Cash, on the other hand, is independent of technical problems and offers a certain degree of financial security.