Netherlands

The Netherlands, despite being a low-cash country, has successfully maintained the stability of cash acceptance through targeted policies and measures implemented by the central bank and government, ensuring that cash remains a viable and inclusive payment method.

The Finance Minister announced legislative proposals to ensure affordable access to both cash withdrawals and deposits. Meanwhile, the banking sector is requested to maintain adequate cash services.

Twenty-three Dutch organisations closely involved in the payments system signed a new Cash Covenant this week. The agreement seeks to ensure that cash continues to function properly as a payment instrument in the face of a steady increase in electronic payments.

De Nederlandsche Bank (DNB) calls on stakeholders in the payment chain to enter into agreements to ensure that cash remains readily accessible and available in the Netherlands in the next five years.

The Dutch government is putting forward a package of measures to Parliament, aimed at fighting against money laundering. Two of these measures specifically target cash: banning cash payments above and scrapping the €500 note.

The Dutch National Bank (DNB) published its strategy for the next three years and it includes an improved cash cycle, payment structure innovation and overall system improvements.

Thanks to newly launched startup Cashly, Dutch consumers can now choose to shop online with cash.