Should you pay a bill of up to 20 euros in cash or by card? People in Germany have a preference on this question – even when they are abroad. However, there are differences depending on age.
For most Germans, cash is the preferred means of payment for small amounts – both in other European countries and in Germany. This is shown by a representative survey conducted by the opinion research institute YouGov on behalf of C24 Bank. More than half of those surveyed (53 percent) said they pay bills of up to 20 euros in cash within the European Union (EU).
A total of 42 percent use other payment methods. 17 percent each said they use debit/credit cards or giro cards for smaller amounts in the EU. Eight percent of respondents pay mobile with their smartphone or smartwatch. 2,065 people took part in the survey between June 11 and June 13.
“The fear of additional fees for card payments abroad deters consumers from using the card,” says Lasse Schmid, Managing Director of C24 Bank, according to the statement. Within Germany, it is often not possible to pay by card for smaller amounts. This experience is another reason why people are more likely to use cash when making payments abroad.
Older people pay more with cash
Even within Germany, almost half of those surveyed (49 percent) use cash for bills up to 20 euros. Almost one in four people in Germany uses a debit card for such amounts.
According to the survey, there is also a connection between age when deciding on a payment method. People aged 55 and over most often pay bills up to 20 euros in cash (domestic: 64 percent, abroad: 67 percent). The lowest proportion is among people aged between 25 and 34. In this age group, 30 percent of respondents abroad pay in cash, while the proportion in Germany is 27 percent.
Source: Stern
