The costs of payment methods for consumers are difficult to determine, not recorded in a harmonised manner on an international level and consequently vary significantly from country to country. Our study provides a brief overview of international costs studies. Subsequently, we report the results of a representative survey for Germany conducted in 2023. Households were asked about the costs they incurred when using various means of payment. Financial costs were recorded, including fees for account management, ATM cash withdrawals or for payment cards, as well as the financial impact in the case of loss or fraud. Non-monetary costs in the form of the time required and the costs of data disclosure were also included. A comparison of the costs incurred for cash, debit cards and credit cards from the consumer perspective reveals a mixed picture. Cash incurs the lowest cost per transaction. However, looking at costs in relation to the transaction amount, debit card payments are cheaper than cash. Cards differ considerably: debit cards are significantly more cost-effective for consumers than credit cards in every respect. The findings indicate that from the consumer perspective in Germany, the costs of cash and that of the most cost-effective cashless alternative are similar.