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Federal Office advises: This is how much cash you should have at home – despite the trend towards card payments

2023-05-26T03:21:43.556Z

Highlights: In the event of power outages, card payment is no longer possible. A sudden power outage or technical defect can paralyze card devices from one second to the next. It makes the most sense to have the money ready in small bills. In addition to cash, citizens should store a number of other things at home in order to be well equipped in emergency situations. These include a flashlight, a camping stove and a battery-powered radio. A complete checklist in case of a blackout can be found here.



A sudden power outage or technical defect can paralyze card devices from one second to the next. That's why a cash deposit makes sense.

Hamburg – Whether in the supermarket, in a café or at the parking ticket machine: Despite Germany's great love of cash, card payment is now possible almost everywhere. Many shops are even abolishing paper payments altogether, including electronics stores in Hamburg. Nevertheless, there are good reasons to have some bills in reserve.

Cash in the event of a disaster: In the event of power outages, card payment is no longer possible

"Contactless payment by card and, increasingly, by smartphone has meanwhile become the standard," according to a study by the research and education institute EHI Retail Institute (formerly EuroHandelsinstitut), although cash is still the most popular means of payment for the majority of Germans. The share of cash sales in stores has fallen to 38.5 percent. 58.8 percent of purchases are paid for by card. In special cases, however, this can become a problem.

Technical failures, cyber attacks or extreme weather can lead to disruptions that make card payment or contactless payment impossible. "Remember to have a sufficient cash reserve in the house, because in the event of a power failure, the ATMs will no longer work," explains the Federal Office of Civil Protection and Disaster Assistance (BBK) in the "Guide to Emergency Preparedness and Correct Action in Emergency Situations". Most recently, experts warned of large-scale power outages due to the energy crisis.

This is how much cash you should store: Upper Austrian Civil Protection recommends 500 euros

Although these are usually fixed within a few hours, in emergency situations it can take several days for power to be available again and card devices to function as usual again, according to BBK. While the German Federal Office does not provide precise information on how much money should be stockpiled, the Upper Austrian Civil Defense recommends a certain amount.

You should store at least a few bills at home in case of emergency. © Felix Schlikis/imago/Symbolbild

In addition to a supply of cash, citizens should store other items, according to the Federal Office

"Every household should have a cash reserve at home – around 500 euros are recommended," says the Civil Protection on its information page for crisis situations. It makes the most sense to have the money ready in small bills. According to the savings bank, there is currently no maximum limit for cash withdrawals. However, if you want to pay contributions over 10,000 euros in cash, you must show an ID.

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In addition to cash, citizens should store a number of other things at home in order to be well equipped in emergency situations. These include a flashlight, a camping stove and a battery-powered radio. A complete checklist in case of a blackout can be found here. (tt)

Source: merkur

All life articles on 2023-05-26

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