In a new initiative from the government, which is set to take effect immediately after approval, stores will be allowed to reject 1000-kroner bills for purchases under 250 kroner. This amendment proposal has been put forward by Minister of Business Morten Bødskov (Social Democrats), who has adjusted the original proposal after input from the Danish Association of the Elderly (Ældre Sagen) and the Consumer Council Think. The previous proposal set the limit at 500 kroner. The change is part of a larger plan to phase out the 1000-kroner bill, which will be invalidated in Denmark from May 31, 2025. According to the government, this bill is often used in connection with financial crime, and the phase-out is seen as a step towards combating this. The Minister of Business has explained in a letter to the Business Committee of the Danish Parliament that the change should “find a better balance between the considerations behind the bill and the shopping patterns of the elderly and single individuals.” This comes after feedback from organizations representing older citizens who often use cash in their daily shopping. In Denmark, stores are currently allowed to reject cash payments between 06:00 and 22:00 if they also accept other payment methods such as payment cards. However, with the new bill, there will be an exception for the 1000-kroner bill for small purchases. The proposal is already being processed in the Danish Parliament and is expected to be voted on on June 4. It has been introduced following reports from stores about customers attempting to pay small amounts with the large bill, which can be cumbersome for the stores to handle. This change in the law is part of a broader strategy to reduce the use of cash in Danish society, where only ten percent of payments in physical stores are made with cash today.
Danish Government to Allow Stores to Reject 1000-Krone Notes
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