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Betty Lin-Fisher, USA TODAYDecember 23, 2025 at 2:01 AM

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Americans have many payment options other than cash, but they don't want the choice of using paper and coin currency to disappear and support laws that would require most U.S. businesses to accept it, according a new study.

As an increasing number of businesses go cashless or put restrictions on whether they accept cash as payment, consumers want to keep the option – citing such factors as privacy and the lack of access to credit and debit cards for the unbanked.

In a study by Siena Research Institute of 5,000 Americans, 85% said they had paid cash for something within the last 30 days. Debit cards were the most popular form of payment among respondents, with 35% preferring them as compared to 24% who said they preferred cash and 24% who favored credit cards.

But 84% of respondents said they opposed the U.S. moving to a cashless society.

The study was commissioned by the Payment Choice Coalition, a group of businesses and organizations that support cash use.

1 / 21One last press for the penny: U.S. Mint turns currency into collector’s treasureTreasurer of the United States Brandon Beach holds the last penny stamped at the US Mint on November 12, 2025 in Philadelphia, Pennsylvania. Beach pressed the final pennies at an event held at the facility. The pennies pressed bear a special 'Omega' and will not be put in circulation, but will be auctioned off.Cash is good in emergencies, advocates say

“Cash is important and it's not going away,” said Jeff Thinnes, who represents the Payment Choice Coalition.

People’s support of cash usage and acceptance spans the political and income spectrum, said Thinnes, with some wanting the choice to protect their privacy and others noting the 25 million American households who are unbanked or underbanked and don’t have access to non-cash methods of payments.

Cash can also be helpful if there are natural disasters or national emergencies where electrical or communication grids across the country are disabled and access to machines to process electronic payments are not available, said Jay Zagorsky, an economist and clinical associate professor at Boston University's Questrom School of Business.

If the U.S. gets attacked, the banking system is going to be one of the first things targeted, he said.

“Future wars are probably going to be cyber wars and you might think you’re wealthy, but if you’re cut off from all electronic access to your funds, then you really can’t spend money,” Zagorsky, author of The Power of Cash, told USA TODAY.

While Zagorsky is an advocate for cash, he’s not suggesting people stop using electronic methods of payments. STILL, He suggests using cash at least once a week to keep the infrastructure going that circulates cash in society.

Eighty four percent of Americans recently surveyed do not support the U.S. becoming cashless.Cash has benefits, survey respondents say

Here are some highlights of the Siena study about perceptions of cash:

Ninety-two percent of respondents said paying with cash protects privacy better than digital or card payments. Three out of four or 75% said they felt it was easier to keep track of spending when using a card or payment app instead of cash. But 70% of respondents also said using physical cash makes it easier to stay within a budget.

For those using less cash, the reasons included the convenience of using cards or mobile payments (86%), less in-person shopping (62%), not carrying cash regularly (60%) and stores or businesses not accepting cash (30%).

Nearly six in 10 survey respondents, or 59%, said they believed all businesses, regardless of size, should be required to accept cash.

Pending legislation could preserve cash transactions

Various states and cities have their own cashless bans, but they vary widely, which creates “a muddy patchwork,” said Thinnes. The coalition is in support of the Payment Choice Act, which has versions in both the U.S. House and Senate and would require most businesses to accept cash payments for in-person payments of up to $500.

Eight-five percent of the survey’s respondents said they support a law that would require most brick and mortar stores to accept cash.

Zagorsky, who is not affiliated with the Payment Choice Coalition, said the Payment Choice Act is a start, but as it is written now, it would apply to retail establishments. That leaves out a lot of other important businesses, like restaurants and doctors offices, where people may also want to use cash, he said.

The pending legislation also requires reverse ATMs, which let people put cash in to get an electronic card loaded with money. But Zagorsky said the legislation doesn’t specify that those reverse ATMs have to be at convenient locations for consumers.

Are we headed to a cashless society?

A growing number of businesses are not accepting cash. For instance, Major League Baseball stadiums and many other professional sports arenas have gone cashless.

Twenty-nine percent of survey respondents said they had encountered a business that refused to accept paper and coin currency. That included restaurants, retail stores and entertainment venues.

Fifty-nine percent of respondents said they believed all businesses should be required to accept cash.

Payments: Are we moving toward a cashless, checkless society?

The use of cash and personal checks has dropped in recent years while credit and debit card payments rose, according to the latest 2025 Diary of Consumer Payment Choice, put out yearly by the Federal Reserve Financial Services FedCash Services.

Cash has been the third most-used form of payment for four straight years with 14% usage in 2024 behind credit cards (35%) and debit cards (30%). Personal check usage was 3%.

In a recent survey by Empower, 18% of people said they use cash daily and 1 in 5 say they only use it a few times a year. Nearly 4 in 10 or 37% said each generation relies less on cash than the one before it.

Still, Thinnes said the survey results show cash still is important to consumers.

“A majority of Americans do not see cash disappearing,” said Thinnes.

Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at [email protected] or follow her on X, Facebook or Instagram @blinfisher and @blinfisher.bsky.social on Bluesky. Sign up for our free The Daily Money newsletter, which breaks down complex consumer and financial news. Subscribe here.

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