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Bank of Canada urges businesses to accept cash

Apr 16, 2020

Many consumers and businesses avoid using cash in order to limit the transmission of COVID-19

Bank of Canada

Bank of Canada urges businesses to accept cash. Source: pixabay.com

The Bank of Canada encourages retailers to keep accepting cash so that Canadians have access to the goods and services they need. According to the statement, refusing cash purchases will put a burden on businesses that depend on cash, thus have limited payment options.

At the same time, the Bank says citizens can use payment methods that are most comfortable for them.

There are many individuals who, for a variety of reasons, do not have access to credit or debit cards and must pay with coins and bills. We know that SARS-CoV-2 (COVID-19) can stick to surfaces for a few hours to a few days, and this may include hard currency. Still, we can find ways to ensure that all Canadians have access to essential goods and services, even if they are using cash. Risk can be mitigated in retail settings using a variety of methods, including ensuring access to hand hygiene for all employees
Dr. Isaac Bogoch, an infectious disease physician and scientist at the Toronto General Hospital Research Institute

The Bank of Canada adds that risks posed from handling cash aren’t bigger than those posed by touching other common surfaces. The most important thing to do is to follow the public health guidelines on COVID-19 and wash hands often.

Since Canada issues polymer banknotes, it becomes possible to clean them with a bit of soap and water as they are resistant to moisture.

The Bank is also cooperating with financial institutions thus ensuring that there’s no disruption to the cash supply during the pandemic.

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