Growing international guidance on household emergency preparedness is placing renewed emphasis on the role of cash. Reports that Irish households may soon be advised to keep a small amount of cash at home reflect a broader shift across Europe. The European Central Bank has highlighted that cash is now considered a critical element of national crisis planning, particularly in scenarios where digital payment systems fail.
Tánaiste Simon Harris has confirmed that the Office of Emergency Planning is preparing advice to help people plan for situations where electronic payments may not be available. The risks are not theoretical. Power outages, cyber attacks and geopolitical instability all have the potential to disrupt digital systems for extended periods. In such circumstances, cash may be the only functioning method of payment.
The stability and resilience of cash continue to be recognised across the euro area. The Eurosystem Cash Strategy describes cash as an essential pillar of payment freedom and financial inclusion. The ECB’s SPACE survey found that in 2024 cash remained the most used payment method at physical points of sale in 14 of the 20 euro area countries, particularly for smaller transactions under 50 euro.
In Ireland, the use of cash has remained steady since the pandemic. While the number of individual cash transactions fell by 5 percent, the overall value of cash payments stayed unchanged. Survey responses cite privacy, anonymity and greater spending awareness as key benefits. The Department of Finance has also reported a slight increase in cash usage, with 92 percent of people using it in 2025.
The ECB has noted that sustained demand for cash, despite the growth of digital payments, demonstrates that it cannot be fully replaced. During major crises, demand for cash rises sharply, highlighting its value as a dependable offline payment method.
Several European countries have already issued guidance encouraging households to maintain a supply of cash for emergencies. Sweden’s central bank and its civil contingency agency advise households to hold enough cash for a week’s essentials and to keep using cash from time to time. The Dutch National Forum on the Payment System recommends that adults keep roughly 70 euro in cash and children 30 euro. Germany, Austria and Finland advise households to keep sufficient reserves for expected household needs, with some recommending enough to last up to 72 hours during a system failure.
The UK has also examined this issue, with a 2025 Treasury Committee report urging consideration of formal guidance. The Bank of Portugal recently reiterated the importance of cash following lessons learned during a national blackout earlier that year.
While encouraging households to keep cash on hand is a sensible step, policymakers stress that cash should not be viewed only as an emergency fallback. Reliable access to cash remains essential for many people, and it must continue to function as a viable everyday payment option. Ensuring this requires ongoing policy support, regulatory oversight and the maintenance of a resilient cash infrastructure.
As ECB Executive Board member Piero Cipollone remarked, cash continues to play a vital role in society and is expected to remain a permanent part of the European payments landscape.
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