The end of cash is in sight, according to a growing number of Dutch people. A fifth of those surveyed by the national bank say they expect to switch entirely to electronic payments in the next five years.

Nearly half of respondents still believe they will use cash in 2024, but less frequently than presently. Nearly three-quarters (73%) say electronic payment is becoming the norm, while 14% expect fewer shops to accept cash payments in future.

Nine in 10 people overall said they still carried cash or coins in their wallets, but 26% of young people relied exclusively on their bank card.

Despite falling out of favour, banknotes were seen as more trustworthy than in previous surveys. Almost twice as many people (63%) gave the current euro notes a ‘trust score’ of 8 out of 10 or higher than in 2005, when the proportion was 32%.

De Nederlandsche Bank (DNB) carried out the survey of 1,000 people about their attitudes to different types of money.