Azerbaijan.US
Even as digital payments expand and card usage becomes more common, keeping cash at home remains a widespread practice in Azerbaijan.
Informal surveys and everyday conversations suggest that trust – not convenience – is the deciding factor. Many people say they feel safer when money is physically within reach, rather than stored on a card or in an account they cannot directly control.
One of the main concerns is fraud. Stories of unauthorized card transactions, online scams, and data leaks circulate widely on social media, reinforcing fears that money held electronically can disappear without warning. For some, even a single negative experience is enough to abandon non-cash payments altogether.
Others point to low returns on deposits. With interest rates offering little incentive, keeping money in a bank account feels unnecessary to those who value liquidity over marginal gains. In such cases, cash at home is seen as just as practical – and more transparent.
At the same time, convenience is slowly shifting habits. Many Azerbaijanis now rely on bank cards for everyday expenses such as public transport, utilities, and shopping. Yet even among regular card users, it is common to keep a portion of savings in cash as a fallback option.
Economic reality also plays a role. For households living from paycheck to paycheck, the question of where to store money is often theoretical. When income is quickly absorbed by daily expenses, long-term saving – whether in cash or in banks – becomes secondary.
Experts note that the persistence of cash is not unique to Azerbaijan. In many countries with developing financial ecosystems, trust in institutions evolves more slowly than technology. Until consumers feel consistently protected from fraud and confident in dispute-resolution mechanisms, cash is likely to remain part of everyday financial behavior.
In this sense, the preference for cash reflects less a rejection of modern banking and more a demand for reliability, security, and confidence – qualities that financial systems must earn over time.
