September 22
2021
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Trajan Shipley
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30th July 2021
Banking & Finance Covid-19

ECB: risk of COVID-19 transmission via cash is very low 

The European Central Bank (ECB) has published a paper assessing the risk of transmission of COVID-19 through euro cash (including both coins and banknotes), finding that the risk is very low and that therefore cash is a safe means of payment to use. 

During the start of the COVID-19 pandemic, fears regarding the risk of transmission of the virus via cash were widely covered throughout social and traditional media, which led people to avoid cash as a means of payment. According to figures of the report, despite an increase in March 2020, the value of banknotes issued (outflows from central banks) during 2020 decreased to around 70% and 90% of the average level of the previous five years.

The paper notes that while the virus

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