Kommt jetzt die Annahmepflicht für Bargeld? Experte ist sich sicher

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01/29/20263:49 p.m

The Deutsche Bundesbank firmly expects that there will be a binding obligation to accept cash in brick-and-mortar stores in the future.

The digital euro is to be granted legal tender status, which means, among other things, that it must be accepted by payment recipients. But does that mean you can no longer pay with cash everywhere?

No, on the contrary: the current draft regulations of the EU Council and the European Parliament explicitly stipulate that retailers must accept cash in retail stores. This is intended to ensure that consumers continue to be free to choose how they want to pay.

Obligation to accept cash in stores

Hattingen, withdrawing money in the supermarket *** FOR EDITORIAL PURPOSES ONLY *** EDITORIAL USE ONLY ***

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Balz emphasized that the digital euro is not intended to displace cash. Rather, the digital euro is intended to exist as a modern means of payment alongside cash, with similar functionality to offline payments without internet access. In addition, there is no interest, just like with cash in your pocket.

The Bundesbank representative sees the measure as an important part of the legislation surrounding the digital euro and payment transactions as a whole. The aim is to strengthen and secure the status of physical cash as legal tender.

For him, it is crucial that the European Union creates a legal basis for the digital euro, but also explicitly secures the future of cash.

Why do you need an obligation to accept cash?

The introduction of an acceptance requirement is intended to prevent cashless payments from becoming the only option, an aspect that is important to many consumers as cash continues to make a key contribution to economic participation.

Studies show that cash is still firmly anchored in Germany despite the growing use of digital forms of payment. Citizens have the choice of whether they would prefer to pay digitally or with cash; retailers are largely obliged to accept both.

Digital euro should come in 2029

Consumers have demands for digital euros — An introduction of the digital euro should be possible in 2029. Karl-Josef Hildenbrand/dpa

The Council and the European Parliament are currently negotiating the European Commission’s legislative proposal in Brussels. Experts expect that the legislative process for the digital euro can be completed in 2026, and pilot operation could then begin in mid-2027.

This means that the regulations should be completed this year and providers selected for the development of the platform and infrastructure. According to Balz, the introduction of the digital euro will not take place until 2029 at the earliest.