Will cash disappear in the future?
No. Cash will continue to be the main means of payment for the foreseeable future. Cash has value in itself, its authenticity can be easily verified and it allows payments to be settled without the need for third parties. No other payment instrument combines these three characteristics as effectively as cash.

Will cash become obsolete with the spread of electronic payments?
No. The unique characteristics of cash ensure that it remains important in the future. Digital payment methods may be convenient for many people, but they are not suitable for everyone. Electronic payments will coexist with cash, but will not replace it as a payment instrument.

Can a business refuse a cash payment?
In March 2010, the European Commission issued Recommendation (2010/191/EU), based on a report by the Group of Experts on the Legal Tender of the Euro, which sets out the following in relation to the obligation to accept cash.

Businesses cannot refuse a cash payment unless the parties have agreed to another means of payment.
A label or sign indicating that the business does not accept payments in cash, or certain denominations of banknotes, is not sufficient. The business must provide a legitimate justification, for example the difficulty of maintaining a sufficient reserve of cash to return change, or specific security risks related to the physical presence of large sums of cash.
Public entities that provide essential services to citizens cannot refuse or restrict cash payment without sufficient reason. Otherwise, they would undermine the legal tender status of euro banknotes and coins protected by EU law.

Do national central banks have powers over banknotes and coins?
Yes. The power to issue euro banknotes lies with the ECB and the national central banks of the Eurosystem. On the other hand, the power to issue euro coins corresponds to each Member State, although the ECB approves the volume of coins that each of them can issue. All national central banks are involved in the logistics of supplying currencies and storing reserve stocks.

Is a commercial bank competent to determine if a banknote is counterfeit?
No. In case of doubt about the authenticity of a euro banknote, the commercial bank will send it to the national central bank (or the competent national analysis centre), which will determine whether it is authentic or not.

Is there more than one series of euro banknotes?
Yes. The first series (€5 to €500) of euro banknotes was issued in 2002 and remains legal tender. Between 2013 and 2019, the ECB and the national central banks of the Eurosystem introduced a second series, called the Europa series, of banknotes from €5 to €200 (the €500 note has been discontinued). The Europa series banknotes feature an updated design and incorporate improved security features.

Are all businesses required to offer cashback and cash-in-shop services? Are these services available in all countries?
Cashback and cash-in-shop services are alternative ways to withdraw cash, in addition to ATMs and bank branches, and it is up to businesses to decide whether they want to offer these services to their customers. According to our survey, in 2021, 11% of businesses in the euro area provided cashback services and 6% provided cash-in-shop services. However, in some euro area countries, these services are not yet available.

Can I get coronavirus by touching a banknote?
The amount of virus that could be spread by touching a banknote is so small that the risk of infection is negligible compared to other surfaces that people come into contact with daily. The ECB is working closely with European laboratories to evaluate the behavior of coronaviruses on different surfaces and ensure that cash handling is as safe as possible. Read this blog article for more information.

Source: https://www.ecb.europa.eu/euro/cash_strategy/faqs/html/index.es.html

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