ECB Advises Holding Cash at Home for Crisis Situations

The European Central Bank (ECB) recommends that citizens keep a small cash reserve at home, approximately 70 to 100 euros per person, as a safety net during times of crisis.

According to a study published on 24/09, cash remains crucial when digital payment systems fail. The ECB highlights that the Covid-19 pandemic and other crises have increased the demand for cash.

The ECB likens cash to a 'reserve' for the financial system, emphasizing its importance when other means fail. Countries like Finland and Austria are already adapting their infrastructure to ensure access to cash in case of disruptions.