Sweden’s central bank has published its first direct recommendations to the public on how to prepare for possible disruptions to payment systems. The agency advises all adults in the country to keep 1,000 Swedish kronor in cash at home per person.
According to bank representatives, this amount is intended to cover approximately one week of essential purchases—food, medicine, and other essentials—in the event of a crisis, war, cyberattack, widespread power outage, or other emergency situations where digital payments (cards and mobile apps) may be unavailable.
“The public is an important part of Sweden’s overall defense and a key element in strengthening national preparedness,” the central bank noted in a press release.
Additional recommendations include:
Keeping cash in different denominations for ease of payment.
Having bank cards from at least two different payment systems (e.g., Visa and Mastercard) to minimize the risk of one system failing.
Regularly using cash in everyday life to “keep the system running” and get used to handling it.
Actively using the Swedish instant payment service Swish as a backup.
The new recommendations were published amid a deteriorating international situation and growing concerns about the vulnerability of the fully digitalized Swedish economy. Sweden is one of the most cashless countries in the world, with a minimal share of cash in everyday transactions. However, authorities are increasingly emphasizing that cash remains the only payment method independent of infrastructure and intermediaries.
The Central Bank emphasizes that this is only a guideline: families with special needs (children, the elderly, and the disabled) may require more or less cash.