Cash & Pandemic - Press coverage

30/3/2020

Cash & Pandemic - Press coverage

Positive

Ministry of Finance Luxembourg: “Information sur le paiement en argent liquide dans le contexte du Covid-19” [Cash payment information for the Covid-19]” (27 March 2020)

https://mfin.gouvernement.lu/fr/actualites/2020/Acceptationdelargentliquidecoronavirus.html
 

Bankrate: “Coronavirus and cash: Why consumers should be cautious, but not fearful of handling dollars” (27 March 2020)

https://www.bankrate.com/banking/savings/coronavirus-cash-concerns-virus-spread/
 

Sveriges Riksbank: “No evidence that the coronavirus spreads via banknotes” (26 March 2020) (https://www.riksbank.se/en-gb/press-and-published/notices-and-press-releases/notices/2020/the-coronavirus-is-not-spread-via-banknotes-and-coins/)
 

Bank of Finland Blog: “Käteisen käytöstä koronapandemian aikana [Use of cash during Corona pandemic]” (25 March 2020) (https://www.eurojatalous.fi/fi/blogit/2020/kateisen-kaytosta-koronapandemian-aikana/)
 

Financial Times (Opinion): “Banknote virus fears won’t stop Germans hoarding cash” (25 March 2020)

https://www.ft.com/content/7f88763c-6df0-11ea-89df-41bea055720b
 

Reserve Bank of New Zealand: “Cash and other payments systems ready for COVID-19” (19 March 2020) (https://www.rbnz.govt.nz/news/2020/03/cash-and-other-payments-systems-ready-for-covid-19)
 

G4S: “ESTA: NO RISK OF CONTAMINATION WITH COVID-19 ON BANKNOTES” (19 March 2020)

https://www.g4s.com/en-gb/media-centre/news/2020/03/19/esta-statement-on-cash-and-coronavirus
 

Bank of Canada: “Bank of Canada asks retailers to continue accepting cash” (18 March 2020) (https://www.bankofcanada.ca/2020/03/bank-canada-asks-retailers-continue-accepting-cash/)
 

Bundesbank: “Cash poses no particular risk of infection for public” (18 March 2020)

(https://www.bundesbank.de/en/tasks/topics/cash-poses-no-particular-risk-of-infection-for-public-828762)
 

Bank of Canada: “Bank of Canada asks retailers to continue accepting cash” (18 March 2020) (https://www.bankofcanada.ca/2020/03/bank-canada-asks-retailers-continue-accepting-cash/)
 

Central Bank of Luxembourg: “POSSIBLE IMPACT OF EURO BANKNOTES ON THE SPREAD OF THE CORONAVIRUS” (17 March 2020) (http://www.bcl.lu/en/Media-and-News/Press-releases/2020/03/coronavirus/index.html)
 

South African Reserve Bank: “The SARB warns the public that it is NOT withdrawing banknotes and coin because of COVID-19” (16 March 2020) (https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/9779/The%20SARB%20warns%20the%20public%20that%20it%20is%20NOT%20withdrawing%20banknotes%20and%20coin%20because%20of%20COVID-19.pdf
 

Bloomberg: “New Yorker Anxiety in Hamptons Leads to Hard Cash Demands” (15 March 2020)

https://www.bloomberg.com/news/articles/2020-03-15/new-yorker-anxiety-in-hamptons-leads-to-requests-for-hard-cash
 

New York Times: “A Bank in Midtown Is Cleaned Out of $100 Bills” (14 March 2020)

https://www.nytimes.com/2020/03/14/business/coronavirus-cash-shortage-bank.html
 

ATM Industry Association: “New Coronavirus Health Crisis – Separating Fact from Fiction” (12 March 2020)

https://www.atmia.com/news/new-coronavirus-health-crisis-separating-fact-from-fiction/12218/
 

MIT Technology Review: “No, coronavirus is not a good argument for quitting cash” (12 March 2020)

https://www.technologyreview.com/s/615356/coronavirus-contaminated-cash-quarantine/
 

Wall Street Journal: “As Coronavirus Spreads, Should You Have More Cash—or Less?” (12 March 2020)

https://www.wsj.com/articles/as-coronavirus-spreads-should-you-have-more-cashor-less-11583946881?mod=ig_coronavirus0312
 

Reuters: “Banknotes carry no particular coronavirus risk: German disease expert” (11 March 2020)

(https://www.reuters.com/article/us-health-coronavirus-germany-banknotes/banknotes-carry-no-particular-coronavirus-risk-german-disease-expert-idUSKBN20Y2ZT)
 

The Daily Star: “Bangladesh Bank has no plans to quarantine bank notes to check coronavirus spread” (11 March 2020)

https://www.thedailystar.net/business/news/bb-has-no-plans-quarantine-bank-notes-check-coronavirus-spread-1879120
 

MarketWatch: “World Health Organization: ‘We did NOT say that cash was transmitting coronavirus’” (9 March 2020) (https://www.marketwatch.com/story/who-we-did-not-say-that-cash-was-transmitting-coronavirus-2020-03-06)
 

Euronews:” Experts play down likelihood of banknotes spreading coronavirus” (6 March 2020) (https://www.euronews.com/2020/03/06/experts-play-down-likelihood-of-banknotes-spreading-coronavirus)
 

Mixed:

This is MONEY (UK): “Head of ATM network warns cash could be almost killed off by end of summer as shoppers switch to using cards and never go back” (28 March 2020)

https://www.thisismoney.co.uk/money/news/article-8163833/Head-ATM-network-warns-cash-killed-end-summer-shoppers-switch-cards.html
 

The Times: “Will coronavirus be the death of cash?” (27 March 2020)

https://www.thetimes.co.uk/article/will-coronavirus-be-the-death-of-cash-l0wgtkhrq?shareToken=fb1a119044ee40aef26505b818bafe5e
 

Arab News: “Pakistan to ‘quarantine,’ disinfect banknotes collected from hospitals” (26 March 2020)

https://www.arabnews.com/node/1647516/world

The Philippine Star: “Banks told to sanitize bank notes to kill virus” (26 March 2020)

https://www.philstar.com/business/2020/03/26/2003395/banks-told-sanitize-bank-notes-kill-virus
 

Tribune (Pakistan): “Pakistan puts currency printing press on high alert” (25 March 2020)

https://tribune.com.pk/story/2183418/2-pakistan-puts-currency-printing-press-high-alert/
 

AKI Press (Uzbekistan): “Paper money kept in bank vaults and cash departments disinfected in Uzbekistan” (25 March 2020)

https://akipress.com/news:638070:Paper_money_kept_in_bank_vaults_and_cash_departments_disinfected_in_Uzbekistan/
 

PYMNTS.com: “Fed Plans Release ff Clean Cash As Virus Spreads” (22 March 2020)

https://www.pymnts.com/coronavirus/2020/fed-plans-release-clean-cash-as-coronavirus-spreads/
 

National Bank of Poland (Twitter): “NBP informuje, że polskie banknoty są poddawane kwarantannie i można realizować transakcje przy ich pomocy.” [] (19 March 2020) https://twitter.com/nbppl/status/1240661800296820737
 

-> Gazeta Prawna (Poland): “NBP odkaża gotówkę. Pieniądze są poddawane działaniu wysokiej temperatury”[NBP decontaminates cash. Money is subjected to high temperatures]” (12 March 2020) https://biznes.gazetaprawna.pl/artykuly/1459470,nbp-odkaza-gotowke-koronawirus.html
 

CNN Business: “China is disinfecting and destroying cash to contain the coronavirus” (17 February 2020)

https://edition.cnn.com/2020/02/17/asia/china-is-disinfecting-cash-coronavirus-intl-hnk-scli/index.html
 

Al Arabiya: “Coronavirus: Kuwait Central Bank quarantines banknotes for four weeks” (12 March 2020)

https://english.alarabiya.net/en/News/gulf/2020/03/12/Coronavirus-Kuwait-Central-Bank-quarantines-banknotes-for-four-weeks
 

Hungary Today: “Coronavirus: Hungary’s Central Bank Quarantines and Cleans Banknotes” (11 March 2020)

https://hungarytoday.hu/coronavirus-hungarys-central-bank-quarantines-and-cleans-banknotes/
 

Bloomberg: “Fear of Virus-Tainted Dollars Opens New Front in War on Cash” (11 March 2020)

https://www.bloomberg.com/news/articles/2020-03-11/fear-of-virus-tainted-dollars-opens-new-front-in-war-on-cash
 

Reuters: “Fed quarantines U.S. dollars repatriated from Asia on coronavirus caution” (6 March 2020)

https://www.reuters.com/article/us-health-coronavirus-fed-dollars/fed-quarantines-us-dollars-repatriated-from-asia-on-coronavirus-caution-idUSKBN20T1YT
 

Decrypt: “South Korea quarantines banknotes to stem spread of coronavirus” (6 March 2020)

https://decrypt.co/21633/south-korea-quarantines-banknotes-stem-spread-coronavirus
 

The Guardian: “From banknotes to handrails: 10 objects that help spread coronavirus” (3 March 2020)

https://www.theguardian.com/world/shortcuts/2020/mar/03/from-banknotes-to-handrails-10-objects-that-help-spread-coronavirus
 

Negative

Money Wise: “As the Coronavirus Pandemic Spreads, Is It Safe to Use ATMs?” (25 March 2020)

LendEDU took a trip through New York to scientifically test for germs found on ATMs. The results may keep you away.

https://moneywise.com/a/lendedu-coronavirus-safe-to-use-atms
 

Financial Times: “Contactless card payment limit to rise to £45 to stem spread of virus” (24 March 2020)

https://www.ft.com/content/aa525259-5dd0-4e42-a70e-070e8117629e
 

LINK UK: “COVID19 and Cash – LINK update” (24 March 2020)

As expected, consumers’ ATM and cash use has fallen significantly, (by around 50%) over the past few days and this is likely to continue as people move to follow the Prime Minister’s instructions to stay at home.

https://www.link.co.uk/about/news/covid19-and-cash-link-update/
 

Bank of Portugal: “Vai ser possível efetuar pagamentos “sem contacto” até 50 euros [It will be possible to make “contactless” payments up to 50 euros]” (24 March 2020)

“With contactless technology, the card does not leave your hand and you do not need to enter your personal code in the terminal. […] In your daily purchases, give preference to “contactless” payments.”

https://www.bportugal.pt/comunicado/vai-ser-possivel-efetuar-pagamentos-sem-contacto-ate-50-euros
 

The Moscow Times: “Russians Urged to Reject Cash to Slow Coronavirus Spread” (24 March 2020)

https://www.themoscowtimes.com/2020/03/24/russians-urged-to-reject-cash-to-slow-coronavirus-spread-a69734
 

Finextra: “Costa Coffee goes cashless as Coronavirus disrupts business model” (19 March 2010)

https://www.finextra.com/newsarticle/35487/costa-coffee-goes-cashless-as-coronavirus-disrupts-business-model
 

New York Times: “Russia in Digital Payments Push as It Limits Banknote Circulation” (24 March 2020)

https://www.nytimes.com/reuters/2020/03/24/technology/24reuters-health-coronavirus-russia-banknotes.html
 

NBC Philadelphia: “Paper Money Shunned for Fear of Virus Spread” (20 March 2020)

https://www.nbcphiladelphia.com/news/coronavirus/paper-money-shunned-for-fear-of-virus-spread/2334898/
 

Nairobi News: “Coronavirus: CBK directs banks to quarantine cash for a week – VIDEO” (18 March 2020)

https://nairobinews.nation.co.ke/news/coronavirus-cbk-directs-banks-to-quarantine-cash-for-a-week
 

CNN Business: “Do NOT take a bunch of cash out of the bank because of coronavirus” (18 March 2020)

https://edition.cnn.com/2020/03/18/economy/banks-cash-coronavirus/index.html
 

Microsoft News: “No school and no cash - Kenya's answer to coronavirus” (17 March 2020)

"While the immediate objective is to reduce the risk of transmission of Covid-19 [coronavirus] by handling banknotes, this will also reduce the use of cash in the economy over the medium term," the Central Bank of Kenya said.

https://www.msn.com/en-us/news/world/no-school-and-no-cash-kenyas-answer-to-coronavirus/ar-BB11hyOC
 

Kenya: Government encourages cashless transactions to reduce risk of coronavirus transmission (15 March 2020)

https://www.youtube.com/watch?v=ByQUIzYLeEM

Business Insider: “Coins carry viruses better than paper money, experts say as China begins sterilizing cash” (10 March 2020)

https://www.businessinsider.com/coronavirus-coins-carry-viruses-better-than-paper-money-experts-say-2020-3?r=US&IR=T
 

Financial Tribune (Iran): “Contactless Payment Tool to Cut Viral Transmission in Iran” (8 March 2020)

Iran's central bank is expanding infrastructure for contactless #payment via QR codes & digital wallets in a bid to limit the coronavirus outbreak via circulation of #banknotes among the public or exchange of debit cards in retail outlets

https://financialtribune.com/articles/business-and-markets/102489/contactless-payment-tool-to-cut-viral-transmission-in-iran