Economics
France to Shut Almost 40% of Cash-Handling Centers
- 14 centers to close by end-2022 with cash use seen falling 25%
- Pandemic has accelerated the decline of cash in the nation
Photographer: Jean-Sebastien Evrard/AFP/Getty Images
This article is for subscribers only.
The Bank of France will shut down more than a third of its cash handling centers by the end of 2022 as the Covid-19 pandemic accelerates a decline in the use of notes and coins.
Operations will cease at 14 of the 37 centers that stock currency and replace damaged notes and coins. The central bank estimates the network would be 40% underused if it remained as expansive as it is now.