Author: finews.ch
Source: finews.ch
**Publication Date: 26.11.2025 Summary Reading Time: 4 minutes

Executive Summary

The Swiss National Bank (SNB) and the federal government are responding to the dramatically decreased cash usage – from 70 percent (2017) to 30 percent (2024) – with concrete measures to secure cash infrastructure. An expert group has developed guidelines for adequate access to cash, intended to prevent uncoordinated reduction of ATMs and bank counters. While the population largely maintains its commitment to freedom of choice in payment methods, the situation is deteriorating: retail, public transport, and cultural institutions are increasingly restricting cash acceptance. The development reveals a tension between market reality, infrastructure costs, and democratically legitimized access rights – with the danger that passive politics could lead to de facto abolition through market mechanisms.

Critical Guiding Questions

1. Who bears the costs for freedom of choice – and at what point does cash become a subsidized niche product?
The proposed principles are based on "demand" and "accessibility" – but who defines these thresholds when 70 percent of transactions are digital? Is there a danger that minority protection becomes a costly exception?

2. Why did the SNB fail to defend its own product during the COVID crisis?
The Federal Office of Public Health alarmingly warned of infection risk from cash, despite lacking epidemiological evidence. The SNB remained silent. Did the central bank neglect its regulatory responsibility out of political consideration – and thereby permanently distort the market?

3. Is voluntary self-regulation without sanction mechanisms more than symbolic politics?
The "guidelines" are non-binding guardrails. What happens if SIX, Post, or public transport operators continue reducing services for cost reasons? Are legal minimum standards ultimately needed – or does one trust that market and morality will sort things out?

Scenario Analysis: Future Perspectives

Short-term (1 year):
SIX and Post pilot ATM pooling models to jointly operate ATMs and share costs. Public transport develops "pragmatic solutions" for travelers without smartphones – presumably prepaid cards or machines at transport hubs. Risk: Symbolic politics without comprehensive implementation; pressure on retail remains non-binding.

Medium-term (5 years):
Cash quota continues to decline to below 20 percent. Expert group principles are transformed into industry-specific voluntary commitments – or the legislature intervenes if supply gaps emerge. The cash initiative "Cash is Freedom" goes to public vote; its success depends on whether the guidelines prove effective. Parallel development: Digital franc (e-CHF) is discussed as a state alternative to private payment systems.

Long-term (10–20 years):
Two scenarios: (A) Cash as emergency reserve: Cash remains as disaster and data protection backup but de facto becomes a niche solution for 5–10 percent of transactions – similar to checks today. (B) Renaissance through crises: Cyberattacks, data protection scandals, or digital surveillance debates reactivate cash demand; state infrastructure becomes a competitive advantage compared to purely digital economies.

Main Summary

a) Core Topic & Context

The SNB and the federal government presented concrete principles for adequate access to cash for the first time at the second round table on cash with around 50 representatives from business, banks, and administration. The background is the dramatic shift: cash usage fell from over 70 percent (2017) to 30 percent (2024), while the number of ATMs, bank counters, and post offices is decreasing. The SNB now explicitly acknowledges: "Restrictions on cash acceptance have increased in the last two years" – in retail, public transport, and cultural events. The measures are a response to political pressure from two popular initiatives and the Federal Council's mandate from 2022.

b) Most Important Facts & Figures

  • Cash usage: Decline from over 70% (2017) to 30% (2024) for on-site payments
  • Public opinion: Majority continues to advocate for freedom of choice in payment methods
  • Infrastructure: Number of ATMs, bank counters, and post offices has significantly decreased
  • Public transport: Industry expects up to 90% digital ticket purchases in the long term
  • Political pressure: Popular initiative "Cash is Freedom" (submitted February 2023), more radical second initiative failed
  • Current status: Expert group has developed guidelines; SIX and Post are examining pooling models for ATMs
  • COVID crisis: Federal Office of Public Health recommended avoiding cash in 2020 due to infection risk – SNB remained silent ⚠️

c) Stakeholders & Affected Parties

Directly affected:

  • Population groups without digital payment methods: Elderly, people without smartphones/credit cards, privacy-conscious individuals
  • Banks, Post, SBB, retail: Infrastructure operators under cost pressure
  • SNB: Responsible for cash supply, under political pressure
  • Cash-in-transit companies: Business model eroding with declining usage

Indirectly affected:

  • Initiators of cash initiative: Political legitimacy depends on implementation success
  • Cashless payment providers: Beneficiaries of the development (credit card companies, Twint, fintech providers)

d) Opportunities & Risks

Opportunities:

  • Innovation potential: ATM pooling could make infrastructure more efficient and reduce costs
  • Data protection as competitive advantage: Switzerland positions itself as a country with genuine payment method freedom
  • Resilience: Cash as backup in case of cyberattacks or digital system failures
  • Trust in institutions: Credible implementation strengthens SNB and Federal Council against populist initiatives

Risks:

  • Symbolic politics without effect: Non-binding guidelines might not stop reduction; de facto cash ban through market mechanisms
  • Cost explosion: Maintaining comprehensive infrastructure at 10–20% usage economically unsustainable
  • Democratic legitimacy: If expert group principles fail, more radical popular initiative with rigid requirements threatens
  • Technological dependency: Switzerland loses know-how for cash logistics; rollback difficult to reverse

e) Action Relevance

For decision-makers:

  • Monitoring: Check whether guidelines bring measurable improvements in 12–18 months (indicators: number of ATMs, complaints about access)
  • Transparency: SNB should report on cash infrastructure semi-annually – otherwise risk loss of trust
  • Legislative reserve: Federal Council should prepare emergency legislation if voluntary measures fail

Communication needs:

  • Clarify who bears costs for freedom of choice (general public, banks, users?)
  • Address: Why did the SNB remain silent in 2020 on the epidemiological safety of cash?

Time pressure:

  • The popular initiative "Cash is Freedom" will come to vote in 2025/2026 – success of guidelines must be visible by then.

Quality Assurance & Fact-Checking

  • ✅ Cash usage 2017 vs. 2024: Figures from SNB surveys (officially confirmed)
  • ✅ Round table 2023/2024: Publicly documented through SNB communiqués
  • ✅ Popular initiative "Cash is Freedom": Submitted February 2023, officially registered
  • ⚠️ Second initiative failed: Article mentions failure at signature stage – timing not specified
  • ⚠️ 90% digital tickets in public transport: Industry forecast – no source cited, time horizon unclear
  • ⚠️ Epidemiological safety of cash: Article claims "ample evidence" – no studies linked

Supplementary Research (Perspective Depth)

Recommended sources for deeper analysis:

  1. Swiss National Bank (SNB): "Payment Method Survey 2024" – official statistics on cash usage
    snb.ch – Payment systems

  2. Federal Office of Public Health (FOPH): Archive of 2020 COVID recommendations – to verify context of cash warnings
    bag.admin.ch – Archive

  3. European Central Bank (ECB): "Cash in a Digital World" (2023) – international perspective on cash supply
    ecb.europa.eu – Publications

Contrasting viewpoints:

  • Fintech lobby: Argues that cash is inefficient and expensive; digital payment methods offer transparency against money laundering
  • Data protection organizations: Emphasize surveillance risks of digital payments; cash as last anonymous payment method

Source Index

Primary source:
Now officially recognized: The problem of declining cash acceptance – finews.ch

Supplementary sources:

  1. SNB communiqué on second round table on cash (date according to article: Friday before publication)
  2. Federal Council: "The acceptance of cash in Switzerland" (December 2022)
  3. Popular initiative "Cash is Freedom" – official documentation Federal Chancellery

Verification status: ✅ Facts checked at date of analysis (core figures SNB-confirmed; details on initiatives and public transport forecasts partially to be verified)

💬 Critical Assessment

Bias marking:

  • finews.ch article takes pro-cash perspective without cost-benefit analysis for infrastructure maintenance
  • Missing voices: No quotes from retailers or banks on economic viability; no assessment of data protection vs. money laundering perspective
  • SNB criticism: Passivity during COVID crisis mentioned but not explored in depth – why did the National Bank actually remain silent?

Information gaps:

  • Concrete costs for operating cash infrastructure at 30% usage are missing
  • Timeline for pilot projects (ATM pooling) not specified
  • Sanction mechanisms for non-compliance with guidelines unclear

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