Europe urged to keep cash at home

The European Central Bank (ECB) has called on citizens across Europe to keep cash at home in case of disruptions to digital payment systems. In a recent statement, the ECB highlighted that crises such as pandemics, war, or major power outages could render ATMs and point-of-sale devices unusable, and might even shut down online banking entirely. Officials explained that having cash reserves at home serves as a prudent safety measure against these risks.

According to the ECB, households should consider keeping between 70 and 100 euros in cash to cover essential expenses for up to three days in case of emergency. This recommendation comes as part of a broader push for preparedness, following several years in which the continent faced threats to its digital infrastructure from various crises.

As a result, several European countries are taking steps to safeguard access to money. Finland is planning to install special ATMs designed to withstand digital failures, while the Netherlands, Austria, and Sweden have all advised residents to maintain a small cash reserve at home. While some nations focus on personal preparedness, others are investing in upgrading payment systems and rebuilding critical infrastructure. The ECB emphasized that these measures aim to boost public resilience against potential large-scale disruptions.