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How do Canadians perceive access to cash?

Author

Listed:
  • Heng Chen
  • Daneal O’Habib
  • Hongyu Xiao

Abstract

This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. The results reveal strong alignment between subjective perceptions and distance-based metrics, with most Canadians reporting easy access to cash sources. Those who reported lower perceived cash accessibility need to travel longer distances and tend to be young, university-educated, low-income, unemployed or cashless.

Suggested Citation

  • Heng Chen & Daneal O’Habib & Hongyu Xiao, 2024. "How do Canadians perceive access to cash?," Staff Analytical Notes 2024-24, Bank of Canada.
  • Handle: RePEc:bca:bocsan:24-24
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    More about this item

    Keywords

    Financial services; Regional economic developments;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies

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