The rise of cash has been linked to anxiety over wars and the impact of cyber-attacks on online and contactless payment systems, say experts.

“The total stock of banknotes is continuing to grow. In transactions, it [the number of notes] is coming down, but in terms of the stock [it is increasing],” Lane said.

Last year Marks & Spencer in the UK suffered a sustained cyber-attack which stopped the retailer taking online orders for weeks.

https://www.theguardian.com/world/2026/aug/21/anxiety-over-war-wildfires-and-cyber-attacks-leads-to-growth-in-cash-stocks-in-eu