The UK Central Bank, which has seen a sharp shift away from cash transactions since the beginning of the coronavirus pandemic, has decided to take care of all those who do not want or like to use payment cards. The institution commissioned a study of the level of transmission of the coronavirus via banknotes and has just published their results. Customers who prefer traditional payment methods can relax.
- The Bank of England conducted a study to check whether paying with cash increases the risk of contracting the coronavirus
- For this purpose, the money was covered with a large dose of the virus, such as would come from a person coughing or sneezing directly onto banknotes.
- After being “infected” they were stored at room temperature and the amount of virus was checked at intervals
- In the first weeks of the pandemic, the WHO issued a recommendation to give up cash in favor of paying by card – precisely for fear of an increased spread of the virus
- You can find more up-to-date information on the TvoiLokony home page
WHO warns against using cash
While the move away from banknotes is a long-term trend worldwide, the pandemic has clearly accelerated it. In March, the demand for money in the UK increased sharply as unsure of tomorrow’s citizens were massively withdrawing their savings from banks. By contrast, during the spring lockdown, they almost stopped using cash. The policy of encouraging the use of only payment cards has also done its job. Fearing an increase in infections, shops, restaurants and hotels urged consumers to make contactless payments, and some even refused to accept cash. Even in the summer months, the situation did not return to last year’s normal.
- WHO warns: COVID-19 coronavirus can spread on banknotes
However, such quick changes may result in depriving many people of access to cash. This is primarily about disadvantaged citizens, the elderly and people in a remote province. For this reason, the Bank of England commissioned studies to see how long the SARS-CoV-2 virus persists on banknotes.
How much virus is on the banknotes?
The study included a very high dose of the coronavirus, such as what would come from a person coughing or sneezing directly onto banknotes. Tests were carried out on paper and polymer 10-pounds. Once “infected” they were stored at room temperature and checked at specified intervals. It found that the virus levels remained stable for the first hour, but dropped sharply over the next five hours. After a day, both types of banknotes dropped to less than 1 percent.
Thus, the risk of coronavirus transmission through banknotes turned out to be much lower than, for example, by breathing virus-laden air or touching baskets and shopping carts or door handles and self-service terminals (cash registers, scales) in the store. Still, the bank warns that “having low levels of a virus does not mean it cannot cause infection.” At the same time, however, the study provides traders with arguments to revert to traditional payment methods that will make life easier for the masses of cash-only consumers.
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