While most people regularly think about their personal finances, most do not give a second thought about the cash that sits in their pocket and how much that actually costs them. Cash is seen by consumers as a low cost method of payment – 89 % of Germans think cash is the cheapest way to pay. To analyze these question the Center for Payment studies at the Research Center for Financial Services omittet a survey and found out, this isn’t the truth. Cash creates costs for all parties – retailers, banks, consumers and governments. The total cost of cash for the German state is a staggering 8.3 bn Euros per year. Meanwhile the total cost of cash for the private sector (banking / retail and individuals) was even higher 12.5 bn Euros. For example, cash costs the German retail industry alone, 6.7 bn Euros per year with costs including cash storage, cash handling, transport and security.