Swedish citizens are advised to carry cash in case electronic payments are disrupted as a result of war. This recommendation was published on the website of the Swedish Central Bank (Riksbank).
The Swedish payment system is particularly vulnerable to military or cyberattacks due to its high level of digitization. According to the Central Bank, only about 10% of purchases in the country’s stores are made with cash; all other transactions are conducted via bank cards or digital payments.
To maintain normal cash circulation and ensure its functionality during crises, including military conflicts, the Riksbank recommends regularly using cash for payments. This practice will help people and organizations better recognize genuine banknotes and coins.
The bank’s website states that if citizens and companies get used to using cash, it will make it much easier to use even in the event of system failures.
Swedes are advised to set aside a sufficient amount of cash in small denominations in advance to cover their family’s needs for a week. The minimum recommended amount is 1,000 Swedish kronor per adult, preferably in a variety of denominations.
This amount is intended to cover approximately one week’s worth of essential purchases and may vary depending on the number of people in the household and their specific needs.
Regular use of cash also helps maintain the functioning of the monetary system. It is recommended that you keep track of your payment cards and PINs in case contactless payments by card or mobile phone stop working.
Additional information on this topic can be found on the source website: [AntiCredit] (https://anticredit.org.ua/).