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The Swiss central bank’s own study on the topic found that 

Cash is kept for this purpose by 37% of Swiss households. The majority of these respondents say they hold less than CHF 1,000 as a store of value,

From Swiss National Bank Payment Survey (2017).

The average amount of cash held in a wallet is CHF 133 and the majority of household with cash have less than CHF 1,000. Which does make you wonder what exactly all those CHF 1,000 notes are being used for,

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