Sweden's Central Bank Urges Citizens: Keep Cash, Use 2 Card Networks for Emergencies

• Sweden's Riksbank advises citizens to keep cash at home due to fears of digital system failure from cyberattacks, war, or power crises.
• Each adult should keep at least 1000 Swedish Kronor in cash for essential goods for about a week during emergencies.
• The bank also recommends having two separate card networks, like Visa and Mastercard, to ensure payment continuity if one fails.
• Concerns arise as cash use in Sweden has significantly decreased, risking payment system collapse if digital systems fail.
• Geopolitical tensions, including the Russia-Ukraine war, are a major reason for Nordic countries to prioritize resilient payment systems.