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| Crisis leads to more cash payments among small firms |
| Prag, 20.10.2020 |
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The central bank says that the coronavirus crisis has caused Czechs to withdraw more cash from ATMs than usual, Hospodářské noviny reported Monday.
However, this is not only to increase the ready money in their pockets – it is also because small firms have been making more cash payments at a time of uncertainty, the business daily said.
Vojtěch Benda from the Czech National Bank’s board said that demand for cash shot up after Covid-19 first hit the Czech Republic in March.
Mr. Benda told Hospodářské noviny that at the same time as political leaders were advocating cashless payments, cash deliveries had been higher than usual for the period of the year.
According to data from the country’s high street banks, Czechs are now more likely to make payments by card, bank transfer or using some other cashless method than they were prior to the pandemic.
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