Cash is an increasing part of WFP’s global portfolio. In 2019, WFP transferred US$ 2.1 billion to nearly 28 million people in 64 countries across the world - 38 percent of total assistance. This note provides twelve key lessons to help enhance the positive effects of cash-based programmes, and to reduce any risks which might impede effectiveness. It also identifies six main effects of cash transfer programmes implemented by WFP.