This page has our latest news releases, reports and information releases relating to the future of cash and cash use.
Reserve Bank pleased with strong public interest in the Future of Money – news release 29/04/2022
Cash system redesign essential to support changing usage – news release 3/03/2022
Innovation key to the future of money and cash – news release 8/02/2022
The Future Money demands innovation – speech 8/02/2022
Reserve Bank outlines options for cash system reform – news release 30/11/2021
Reserve Bank consults on the future of money – news release 30/09/2021
Reserve Bank confirms consultations ‘key to the future of how New Zealanders pay and save’ – 7/07/2021
Reserve Bank seeks to preserve benefits of cash – 19/10/2020
Strong public preference for cards and electronic payments quantified – 30/10/2019
Reserve Bank seeks views on expanded stewardship role for cash – 2/10/2019
What's the future for cash in New Zealand – 19/06/2019
The Reserve Bank invited feedback on a series of issues papers to test our thinking about how we should approach our new role as steward of the money and cash system and make sure that central bank money continues to do its job in light of significant changes affecting how New Zealanders pay, receive and save money.
Future of Money – Cash System Redesign (Te Moni Anamata – He Whakahou i te Pūnaha Moni) is seeking feedback on issues facing the cash system and explores options to achieve greater efficiency and resilience. (Published 30 November 2021, feedback closed 7 March 2022).
Read more about the Future of Money – Cash System Redesign
Future of Money – Stewardship (Te Moni Anamata – Kaitiakitanga) seeks your feedback on how we should steward money and cash following a recent law change. (Published 30 September 2021, feedback closed 6 December 2021).
Read more about the Future of Money – Stewardship
Future of Money – Central Bank Digital Currency (Te Moni Anamata – Aparangi ā Te Pūtea Matua) wants your views on how we propose to explore whether a CBDC is right for Aotearoa. (Published 30 September 2021, feedback closed 6 December 2021).
Read more about the Future of Money – Central Bank Digital Currency
Future of Money – Summary of responses to our 2021 issues papers sets out the key themes in the feedback received.
Read more about the Future of Money – Summary of responses to our 2021 issues papers
The 2021 survey is the third in a series, following on from 2017 and 2019 (available below). The key findings from this survey are:
Download report: 2021 Cash Use Survey Summary Report (PDF 1.8MB)
Download report: 2021 Cash Use Survey Methodology Report (PDF 2.0MB)
Download report: 2021 Cash Use Survey Data Tables (XLSX 35KB)
We commissioned four independently run research workshops to better understand how New Zealanders value cash despite most of us not using it much.
‘While not universal, workshop participants’ valuing of cash money and a desire for its continued use is dominant… [T]he idea of a managed transition was also frequently heard.’
The needs of vulnerable groups and the maintenance of a payments choice giving autonomy and independence were principal drivers. Financial education, cultural users, privacy, ‘and a lack of faith in alternative [payments] systems’ were also considerations, the research report says.
‘It is widely and strongly felt that funding the continuation of the cash system is the responsibility primarily of the banks due to this being a perceived obligation of their right to do business in New Zealand and their perceived high profitability in New Zealand,’ says the Kantar New Zealand report. Alternatively, participants preferred taxpayer funding the system over expecting users who had less choice and money to pay directly.
[Please note this research used indicative costings for the cash system and cash use to stimulate discussion; however, these costings are not official Reserve Bank of New Zealand costings or to be relied upon for any purpose.]
Download The Value of Cash insights report (PDF 4 MB)
In June 2021, we released a special report on 'Cash and payments data update: COVID-19 special'.
Download the Cash and payments data update: COVID-19 special report (PDF 1.8 MB)
The report showed that the COVID-19 pandemic has accelerated the decline in transactional cash use, compounded by accelerating reductions in banks’ branch and cash services, and despite New Zealanders’ rush to cash in March 2020:
This December 2019 report presents research and analysis we did in 2019 as part of the Future of Cash – Te Moni Anamata programme. The programme is designed to anticipate and plan for New Zealand’s cash requirements for the next 15 to 20 years.
This June 2018 report presents research and analysis we did as part of the first stage of the Future of cash – Te Moni Anamata programme.
The future of cash in New Zealand – An internal project research report – June 2018
It presents the programme’s initial assessment (as at June 2018) of the current state of the cash system, which includes: