News

Survey: Men carry more cash than women

March 14, 2012

Women are increasingly passing up the ATM and relying on their debit cards to shop, while men are fonder of old-fashioned paper money, according to the results of a new survey cited in an article at timescolonist.com. 

Twenty-eight percent of women surveyed  said they rarely or never withdraw cash. Just over three-quarters said they carry $50 or less in their wallet.

By contrast, a third of the men surveyed said they often carry more than $50, and only 22 percent said they regularly avoid the bank machine.

In a news release, RBC vice-president Wayne Bossert said that while Canadians are still willing to carry cash, debit cards are becoming the favored means of payment.

 "We are increasingly becoming a cashless society," Bossert said.

The results of the survey also suggested that only one-third of women will use an ATM up to twice a week in an effort to keep cash on hand, compared to 41 percent of men.

The poll was conducted for RBC/Shoppers Drug Mart by Ipsos Reid between Feb. 21 and Feb. 27. It included 1,013 Canadians who were surveyed at random. 

For more on this topic, visit our trends/statistics research center.