2016-10-12 Wed

The old €10 notes are no longer recognized as legal tender in some parts of Netherlands as many businesses are now accepting only pin or debit cards. But if you simply cross the border in countries like Germany and Switzerland, hard cash is still given a lot of importance and almost 70 percent of transactions there happen in cash.

An official news report on 29th September stated that many stores in Netherlands are not accepting banknotes or currency. They are promoting cash-free transactions as they are faster, cleaner and safer. Dutch banks are looking at achieving a target of 60 percent electronic payments by 2018.

The case wasn’t the same a few years back and people were more willing to use paper money.