Nowadays the question is raised many times “How long do we need cash anymore?”. The role of cash in daily life purchasing transactions is even decreasing almost in every European country, but on the other hand during the early waves of the Covid-19 crises the amount of circulating cash increased in every country and the same happened in Central Europe at beginning of the Russian-Ukrainian war. So, the role of cash is rapidly changing, its transactional function gets even meaningless, but cash as a value-storage tool, and as a resort in critical social situations is still needed by the public. This changes in cash demand means complex challenge to central banks how to forecast and on the other hand to the printingworks how to manage their production capacity. The presentation introduces the result of an economic research that analysed the key drivers of cash holding ratio in selected European countries. The key finding of this analyse is that social uncertainty, the cost of financial transactions and the predictability of institutional changes also affect on cash holding. According to this we can predict that demand and parallelly production need for high value banknotes will remain stable in the upcoming years, but the demand for low face-value notes is expected to shrink year by year in almost every European countries.