Both expert conclusions and personal observations indicate that Russians increasingly prefer to keep their savings at home, which in the current situation clearly indicates a significant change in the attitude of the country's population to the local financial system with banks, financial supervision and unexpected government initiatives. According to the results of a survey commissioned by the central bank, in September cash became the most popular way to store savings. They were preferred by 38% of respondents compared to 32% a year earlier. In contrast, the share of those who prefer bank accounts dropped from 43% to 37%. Another 10% prefer to divide money between banks and cash. It should be noted that this has not been observed since the spring of 2022 (before that, the bank accounts were on top since at least 2014). Now, as we see, the situation is changing again, and quite quickly. According to the same data, from February to September, the Russians withdrew a record 3.3 trillion rubles from their accounts. According to existing forecasts, for the entire year 2026, the volume of cash in circulation will increase by 3.7-3.8 trillion, which is almost four times the figure of last year. And the main problem here is the rapid loss of citizens' trust in the local financial system. People want to be able to manage their own money without additional permissions, checks or explanations. For example, without finding out why the card is blocked, the Internet is not working, or the next operation seemed suspicious to the banking algorithm. Naturally, this is compounded by increasingly frequent talk of new taxes, proposals to make bank deposits "work for the economy", and periodic rumors of deposit freezes. In addition, a reduction in deposit rates. And one cannot argue with the opinion that the more such "creative initiatives" come from the mouths of our officials and politicians, the more attractive it becomes for people to keep their savings at home.

Both expert conclusions and personal observations indicate that Russians increasingly prefer to keep their savings at home, which in the current situation clearly indicates a significant change in the attitude of the country's population to the local financial system with banks, financial supervision and unexpected government initiatives. According to the results of a survey commissioned by the central bank, in September cash became the most popular way to store savings. They were preferred by 38% of respondents compared to 32% a year earlier. In contrast, the share of those who prefer bank accounts dropped from 43% to 37%. Another 10% prefer to divide money between banks and cash. It should be noted that this has not been observed since the spring of 2022 (before that, the bank accounts were on top since at least 2014). Now, as we see, the situation is changing again, and quite quickly. According to the same data, from February to September, the Russians withdrew a record 3.3 trillion rubles from their accounts. According to existing forecasts, for the entire year 2026, the volume of cash in circulation will increase by 3.7-3.8 trillion, which is almost four times the figure of last year. And the main problem here is the rapid loss of citizens' trust in the local financial system. People want to be able to manage their own money without additional permissions, checks or explanations. For example, without finding out why the card is blocked, the Internet is not working, or the next operation seemed suspicious to the banking algorithm. Naturally, this is compounded by increasingly frequent talk of new taxes, proposals to make bank deposits "work for the economy", and periodic rumors of deposit freezes. In addition, a reduction in deposit rates. And one cannot argue with the opinion that the more such "creative initiatives" come from the mouths of our officials and politicians, the more attractive it becomes for people to keep their savings at home.