Access to cash: Sweden is thinking twice about all cashless

New cash machines will be installed in 17 Swedish towns after the country changed its laws to require the country’s major banks to offer cash withdrawals even in rural areas.

The new law means that six of Sweden’s largest banks have to allow customers to deposit and take out cash from their branches, without having to travel too far.

As part of this, Bankomat – a company co-owned by Sweden’s banking giants – said it would install 17 new cash machines across the country in the first half of 2021.

Ten of these towns will get their first cash machines, and seven will have their current cash machines upgraded.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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