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Sweden recommends citizens keep £81 in cash per adult in case of payment system crash

The central bank of Sweden says rapid digitisation could cause vulnerabilities in payment systems

Karl Flinders
By
Published: 05 Mar 2026 15:16

Sweden’s central bank has advised citizens to keep SEK1,000 (£81) in cash at home as part of its emergency plans in the event of payment system problems.

Riksbank, as it is known in Sweden, said access to money could be short term, or longer term in the event of crises or even war.

The current geopolitical environment could explain the timing, and Riksbank said “increasing digitisation could make payment systems more vulnerable”. It warned the public to ensure they have different ways to pay and recommended cash, cards and access to payment services via mobile phones be available to citizens.

“The general public is an important part of Sweden’s total defence and central to strengthening national preparedness in the payments market. Having access to different payment methods improves the public’s ability to make payments in the event of temporary disruptions, crises and – in the worst case – war,” said Riksbank.

It said SEK1,000 in cash per adult, in different denominations, should be a benchmark to cover a week’s worth of essential purchases, adding: “Households may need more or less cash at hand, depending on the number of people in the household or the specific needs of the household.”

Nordic advance

Sweden, along with fellow Nordic countries, have long been touted as likely to be the first economies to go cashless or near cashless.

The Swedish public were also encouraged to use cash at regular intervals during normal times to keep the cash systems running. When it comes to cards, Riksbank recommended two cards from different networks, as well as mobile phone payment services, which “use a different underlying infrastructure compared to card payments such as Visa and Mastercard”. This means that the possibility to pay with one type of card can be maintained even if disruptions arise for another card. 

Riksbank said access to payment service via mobile phone, such as Swedish mobile payment system Swish, should be secured.

UK usage falling

UK Finance reported last year that cash payments fell below 10% of the total number of payments made in the UK.

In its report, which plotted the advance of digital finance at the expense of traditional methods, the banking industry body said it expected cash to fall to 4% of payments.

It reported a decline in the use of cash, which accounted for less than 10% of the 48.6 billion payments made in 2024. Around 1.2 million people relied mainly on cash for everyday spending in 2024, compared to 1.5 million the previous year. Its headline figure revealed that 57% of UK adults used mobile wallets – apps that enable customers to make payments using their mobile phones – to complete transactions in 2024, up from 42% in 2023.

The Covid-19 pandemic accelerated the use of digital payment methods as people chose digital options over cash as they attempted to avoid physical contact as the disease spread throughout communities. Many people, particularly older generations, took up digital payments for the first time and continued to use them after the pandemic. However, there is a risk that vulnerable members of society who are unbanked could struggle in a cashless society.

Read more about cashless society

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