Payments Report 2021

The position of cash as legal tender needs strengthening

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Parts of cash infrastructure secured

Published: 3 November 2021

The Riksbank, politicians and other authorities share concerns that the development towards a cashless society entails problems and have therefore implemented a number of measures. In January 2021, for instance, a new act came into force that requires certain major banks to provide withdrawal services for private persons and to receive deposits from institutions and companies. The Riksbank has also implemented measures to be able to maintain its critical operations in the event of a crisis. During spring 2021, a cash handling office was opened in Jönköping and during 2022 another office will be opened in Falun. However, it is important to remember that cash is one of several payment alternatives that Sweden needs to have access to in the event of a crisis or elevated preparedness. Moreover, it is problematic to use cash in this type of situation if it is not also used in normal situations.