In 2023, Russians withdrew a record 33.3 trillion rubles from their cards – Kommersant
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In 2023, individuals withdrew 33.3 trillion rubles from their cards, compared to 2022, the figure increased by a record 13%, writes RBC with reference to Bank of Russia statistics on bank card transactions. Money transfers via cards last year increased by only 8%, to 79.3 trillion rubles.
According to the Bank of Russia, the volume of cash withdrawals from cards in 2023 grew at the fastest rate in at least the last ten years. However, the increase in the volume of money transfers via cards, on the contrary, turned out to be the smallest for the specified period.
Thus, in 2023, individuals withdrew 13% more from their cards than in 2022. However, in 2022 this figure increased by only 6%, in 2021 – by 5%, and in 2020 decreased by 2%. Money transfers via cards in 2023 grew by only 8%. At the end of 2022, they grew by 23%, in 2021 – by 33%, in 2020 – by 26%. A representative of the Bank of Russia noted that the slowdown in the growth of money transfers using cards occurred against the backdrop of an increase in similar transactions in the Faster Payments System.
The total volume of transactions on individual cards in 2023 amounted to almost 167 trillion rubles. Compared to 2022, the figure increased by 12%. In 2022, growth was 16%, in 2021 – a ten-year record 26%.
According to the Bank of Russia, as of December 1, 2023, the volume of cash in circulation amounted to 17.91 trillion rubles. By December 28, another 374.7 billion rubles had been converted into cash. Thus, the increase in cash in circulation of Russians by the end of 2023 made up about 1.94 trillion rubles. In 2022, the increase was 2.28 trillion rubles, up to 16.35 trillion rubles.
Read more about how the Bank of Russia monitors citizens’ payments in the Kommersant article. “Cash payments are included in the register”.
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