(19 May 2025 – Sweden) Sweden’s central bank is urging a legislative rethink on cash use, proposing new obligations for merchants and banks to preserve cash access amid growing digital risks.
In a formal submission to the country’s ongoing Cash Inquiry, the Riksbank has called for laws requiring essential goods and service providers to accept cash payments, and for major banks to be legally responsible for handling cash services such as overnight deposits and small change.
“People should always be able to pay for food, healthcare and medicines both digitally and with cash,” said Erik Thedéen, Governor of the Riksbank. “The increasingly turbulent global situation, increased cyber attacks and also the major power outages in southern Europe show the importance of being able to make payments even when the internet is down.”
Thedéen also backed rules mandating that banks accept cash deposits from individuals, a service not currently required by law, to ensure broader financial inclusion and crisis resilience.
“The cash infrastructure is currently very vulnerable and urgent legislative action is needed to protect it. It is essential that businesses can make cash deposits and receive petty cash for people to be able to use cash in society at all. The banks should take more responsibility for the cash of both their corporate and private customers,” he added.
The Riksbank’s proposals mark a significant shift in tone for one of the world’s most digitised economies, where cash usage has plummeted but concerns around resilience, accessibility, and cybersecurity are forcing a policy recalibration.