The recommendation is among the proposals that the Swedish Central Bank launches in connection with its annual payment report.
It's a matter of judgment. If you go too low, cash becomes too irrelevant. We thought 10,000 was a pretty good balance, says Riksbank Governor Erik Thedéen.
It also goes some way to removing the reasoning that “only criminals use cash”. Now we are putting a framework around this, so that we can say that it is good to use.
In recent years, there have been reports of criminal gangs trading luxury goods for cash, which has led the NK department store to stop accepting cash since February 2024.
