BRUSSELS — A new report from the European Central Bank (ECB) recommends that citizens across Europe keep between €70 and €100 in cash at home as a fallback for emergencies like power outages, cyberattacks or other disruptions to digital payment systems.
What the ECB Study Finds
The study, titled “Keep calm and carry cash”, examines how demand for physical banknotes rose sharply during recent crises — including the COVID-19 pandemic, the war in Ukraine, the April 2025 blackout in parts of Spain, and the Greek debt crisis.
During every such emergency, people flocked to withdraw and hold more cash, often far above normal usage.
Why Keep €70-€100? What’s the Purpose
This amount is seen as enough to cover essential needs for about 72 hours — food, medicine, basic transport — in case digital/online payments fail.
Having cash at home acts as a “low-cost safeguard” during times of systemic instability.
The ECB points to examples from countries including the Netherlands, Austria, and Finland where governments are already suggesting similar precautions.
Broader Preparedness Strategy
The recommendation is part of a wider push by European authorities to strengthen crisis preparedness. In March 2025, the European Commission urged people to stockpile essentials for at least 72 hours — food, water, medicines, and also cash.
Some countries are also improving critical infrastructure: Finland is working on ATMs that remain operational even during system or cybersecurity failures.
Challenges & Considerations
Though cash is useful in emergencies, storing money at home has risks — theft, loss, or damage.
Not all shops or services may accept cash in every emergency, depending on the disruption.
The advice is not about replacing digital payments but ensuring they have a backup.
Key Takeaway
In an increasingly digital world, the ECB underscores that physical cash still has a crucial role. Keeping €70-€100 in cash per person at home is being recommended so that individuals and families can weather short disruptions to electronic payment systems. It’s part of being prepared rather than alarmed.
