Sweden reverses cashless trend, mandates stores accept banknotes starting July 1

Sweden mandates cash acceptance

From 1 July 2026, grocery stores and pharmacies in Sweden are legally required to accept cash payments. The obligation covers transactions up to approximately 5,920 kronor (0.1 of the 2026 base amount). Retailers may refuse payments involving more than 25 coins per transaction, and exceptions apply where cash handling could endanger staff. The rule is part of a broader push to ensure access to essential goods and medicines during system outages.

Central bank's crisis preparedness push

The new law follows a March 2026 recommendation from Sveriges Riksbank that every adult keep at least 1,000 kronor (about 90 euros) in cash at home. The central bank advised households to use multiple payment methods and hold at least two cards from different networks. It also opened two additional cash depots to safeguard the money supply.

“Each household should have at least 1,000 kronor per adult in cash for emergencies.”

Banks are now obliged to accept cash deposits from individuals and businesses, and card terminals must support temporary offline payments during network failures.

From cashless pioneer to cautionary tale

Sweden has been one of the world's most digitalised economies, with over 90% of in-store transactions conducted without cash. Cash in circulation stood at just 0.9% of GDP in 2023, compared with close to 12% in Poland. Only 71% of retailers accepted cash, and 40% of firms that abandoned banknotes did so in the past five years. Authorities now warn that total reliance on electronic systems creates vulnerability to cyberattacks, power disruptions and war.

Sweden0.9

Poland12

Sweden

0.9 % of GDP

Poland

12 % of GDP

Data from the article text

E-krona on hold

The country’s journey toward a central bank digital currency, the e-krona, was halted in 2023 after Russia’s full-scale invasion of Ukraine. Riksbank had conducted tests since 2017, but the invasion showed that physical cash remains vital for societal functions in a crisis. The e-krona project remains suspended.

Broader integration and welfare rules

Alongside the cash regulations, Sweden introduced other measures on 1 July. Authorities will no longer recognise marriages between close relatives conducted abroad. Nursing-home staff must demonstrate Swedish language proficiency. Social-assistance recipients who are able to work must seek employment or join activation programmes after receiving benefits for three months.