The Federal Minister of the Economy plans to make it mandatory for businesses to accept cash payments, even though not all merchants currently do. Those who refuse to accept cash may face sanctions. Some establishments have already shifted to a cashless system due to COVID-19 concerns. However, there are legally accepted reasons for refusing card payments, and there is currently no Belgian law to punish those who refuse cash payments. While 45% of payments in Europe are still made in cash, the Federal Minister intends to legislate on this issue. The article also includes tags for cash, bank, card, and cashless.
The Federal Minister of the Economy intends to legislate to oblige businesses to accept payment by cash, which not all merchants necessarily do, who might therefore be sanctioned.
In this Brussels establishment, since the covid, we accept more than card payments. “We are in a cashless system, we will direct people to the credit card. Cash, we avoid it as much as possible now”.
Less cash for more security is also the reason put forward by the SNCB, which will refuse cash payments for tickets purchased on board from May 1. A refusal already applied in STIB buses and De Lijn in Flanders. But is it legal?
“Coins and banknotes are legal tender, we cannot normally refuse them except for security reasons or if we want to pay with a large note for a very small amount”, explains Morgane Kubicki, communication manager at Financité.
Here are the legally accepted refusals for card payments:
The problem: even if the European texts affirm that cash is legal, there is no Belgian law to sanction those who refuse it. “There is a vagueness. There is no sanction provided for by law in the event of refusal, unlike electronic payment”.
According to an ECB study, 45% of payments are still made in cash. Pierre-Yves Dermagne, Federal Minister for the Economy, will therefore try to legislate on this subject.
As the debate over cashless payments versus cash payments continues, one thing is clear: there is currently a lack of clarity and laws surrounding the issue in Belgium. While some businesses have chosen to go completely cashless, others, including the SNCB, have prohibited cash payments for safety reasons. However, as it stands, there is no Belgian law that punishes businesses who refuse to accept cash. This issue has caught the attention of the Federal Minister of Economy who aims to change this by introducing legislation to oblige businesses to accept cash payments. As the country moves towards a more digital economy, the future of cash payments remains uncertain.
