The Dutch Central Bank (DNB) has issued a recommendation urging citizens to maintain an emergency cash reserve sufficient to last for three days, in light of escalating geopolitical tensions and potential cyber threats that could compromise the nation’s payment infrastructure.
Recommended cash amounts for emergencies
According to the bank’s advisory released this week, adults should keep €70 and children €30 in cash as a safeguard. This amount is intended to cover essential expenses for a 72-hour period, which could include necessities such as food, water, medication, and transportation.
Preparedness for unexpected disruptions
“Think of a power failure, a technical disruption at your bank or the Wi-Fi going down. Then you might not be able to pay the way you are used to. But paying with cash is almost always possible,” the DNB stated in its advisory. This guidance comes on the heels of heightened concerns regarding the reliability of electronic payment systems amidst increasing cyber threats.
The DNB also emphasized the importance of having a debit card on hand and suggested utilizing contactless payment options via smartphones or smartwatches. This advice follows a significant power outage that affected Spain and Portugal on April 28, which left many without access to card payment systems and ATMs, forcing them to rely on cash for basic necessities.
In March, the European Commission introduced a preparedness plan that encouraged citizens to stockpile essential supplies for at least 72 hours in anticipation of emergencies stemming from natural disasters or conflicts. Among the recommended items were cash, medications, power banks, and radios, underlining the necessity of being prepared for unforeseen circumstances.