The Central Bank of Aruba published its Confidence in Cash report, summarising findings from a 2024 consumer survey on cash usage, recognition of Aruban florin banknote security features, and confidence in banknote authenticity and quality. The survey indicates that cash remains widely used for everyday transactions, while respondents anticipate a gradual shift towards electronic payments over the next three to five years. Cash usage remains frequent, with 23.2% of respondents using cash daily and 30.9% weekly, while 4.5% reported never using cash. The most commonly used banknote was Afl. 25 (33.7%), followed by Afl. 100 (23.3%) and Afl. 50 (21.6%), and the most used coins were Afl. 1.00 (29.1%) and Afl. 5.00 (26.0%). ATM withdrawals were most often monthly (28.8%) or weekly (26.3%), with 63.0% using only their own bank’s ATMs. Looking ahead, 92.4% expected to still use cash in the next three to five years, but 70.6% anticipated using it less often, primarily due to the increasing convenience of electronic payments (83.7%). Confidence in banknotes was strong, particularly for cash withdrawn from ATMs (authenticity rating 8.61 out of 10), although recognition of security features was fragmented and verification behaviour was limited, with 47.5% not checking any banknotes in the prior six months; overall banknote quality was rated 8.47 out of 10.
Central Bank of Aruba 2025-10-29
Central Bank of Aruba publishes Confidence in Cash survey showing continued reliance on cash and high trust in florin banknotes
The Central Bank of Aruba's Confidence in Cash report reveals that while cash remains prevalent for daily transactions, there is an anticipated shift towards electronic payments in the next three to five years. The survey highlights strong confidence in banknote authenticity, particularly for ATM withdrawals, despite fragmented recognition of security features.