The Government will not require businesses to accept a cash payment when it is the customer’s only means of payment – but will continue to monitor the availability and use of physical currency in Jersey.
Economic Development Minister Kirsten Morel has published his response to the Economic and International Affairs Scrutiny Panel’s report on its review exploring the acceptance of cash payments in Jersey.
The review, which sought the opinions of islanders last year, garnered 136 written submissions from individuals, businesses and organisations – as well as 2,696 responses to an anonymous five-minute survey.
Around a dozen recommendations were included in the panel’s subsequent report, including that Deputy Morel “should, by 30 April 2025, issue interim guidance to businesses indicating that they should accept a cash payment where it is the customer’s only way of paying”.
But the Minister has said this is “not considered necessary”, arguing that “policy remains that businesses should be free to choose their preferred payment methods”.
Last year, it emerged that the number of Jersey notes being ordered by local banks each year has fallen by over £200 million since 2014.
“Businesses should be free to choose their preferred payment methods”
One of the panel’s recommendations had suggested that, as part part of the formation of an “acceptance of cash payments strategy”, Deputy Morel should “give consideration and identify actions to negate the impact on the economic inclusion of all islanders should cash acceptance fall further or be removed completely”.
In his response, Deputy Morel said that the Government “remains committed to supporting the availability of cash to enable businesses and consumers to make their own decisions around their preferred payment method”.
The Minsiter added that he would “continue to work with colleagues to monitor the availability and use of cash in Jersey and will take action if market failures are identified”.
Several recommendations were partially accepted, including one that will see Deputy Morel liaise with members of the banking sector “to request that they give sufficient notice to both their customers and Government of any branch closures”.
Deputy Morel also said he would be writing to the Charity Commissioner, after the panel recommended he should consider “how charitable organisations can be assisted by the both the Government of Jersey and the private sector including banks, during the transition to digital payments”.
“There are places where you are not welcome if you only use cash”
Deputy Montfort Tadier, who chairs the Economic and International Affairs Scrutiny Panel, also recently conducted an experiment in which he sought to rely entirely on cash for seven days.
He told Express that, while it was “mostly plain sailing”, there were “definitely snags”.
“What it makes clear is that there are places where you are not welcome if you only use cash,” he noted, adding that he hoped to publish the full results of his challenge soon.
Deputy Tadier explained: “The extreme example is the person who ends up huffing at me, making me feel as if I’ve done something wrong – but actually I’m just buying something off them.”