Russians Prefer Cash Over Bank Deposits

For the first time since 2022, 37% of Russians surveyed by the «Public Opinion» Foundation in August named cash as the best way to store savings.

Consensus

In August 2026, more Russians preferred holding savings in cash than in bank accounts.
The share of Russians favoring cash as a savings method reached its highest level since October 2022.
The share of Russians preferring bank accounts as a savings method reached its lowest level since December 2022.
There was a significant increase in the amount of cash in circulation in July 2026.
The proportion of Russians saving money decreased in the first half of 2026 compared to the same period in previous years.
A growing number of Russians reported that their incomes did not keep pace with rising prices.

The withdrawal of funds from bank deposits is partly due to customers closing and reopening deposits in different banks to get higher interest rates, which is described as a 'statistical trick'. — vm
The Moscow Times reported that the share of people favoring cash reached a maximum since 2022 and bank accounts a minimum since December 2022. — tg_dwglavnoe
The Bank of Russia noted that the increase in cash in circulation was not unprecedented and resembled dynamics from early 2023. — vedomosti
The share of income directed toward savings dropped from 10% to 4.4% in the first half of 2026 due to rising expenses. — vesti