Sweden: Ministry of Finance Proposes Bill on Obligation for Credit Institutions to Provide Physical Access to Cash and Places for Cash Deposits

On October 1, 2019, the Ministry of Finance submitted proposals for a new law that aims to ensure better access to cash services for businesses and consumers in Sweden. The proposal would require Swedish credit institutions and branches of foreign credit instructions to provide cash services to consumers.

The background to the proposal indicates a concern around access to cash in Sweden, stating that in April 2018 cash flow in circulation was SEK56.6bn, or 1.2 percent of Sweden’s gross domestic product (GDP), which is low in comparison with other countries.

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