Cash remains a popular payment method in the UK, new research has found.

A survey by Accenture found that almost two-thirds of Brits use cash for payments at least five times a month, second only to debit cards, which are used over five times a month by three quarters of those surveyed.

The survey, which polled over 3,000 Brits, found that cash was “significantly” more popular than digital wallet apps, with Apple Pay and Google Pay used by 17 per cent and 10 per cent respectively.

Cash and debit cards were the most popular payment methods for ‘small ticket’ items such as groceries, at around a third, while less than one in ten used their digital wallets.

The majority preferred credit cards – 41 per cent – for larger purchases, closely followed by debit cards at over a third.

“The UK’s transition to becoming a ‘cashless society’ has been spoken about as an inevitability for years,” said Sulabh Agarwal, global payments lead at Accenture.

He continued: “However, cash remains a crucial method of payment for most UK consumers, who still rely on its accessibility and convenience and ability to budget in the current high inflation macro-economic climate.”

In October, the Post Office revealed that cash withdrawals totalled £777 million - up 12 per cent year on year.

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