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REPORT (COM(2023)0364 – C90216/2023 – 2023/0208(COD))

On the proposal for a regulation of the European Parliament and of the Council on the legal tender of euro banknotes and coins

A-10-2026-0184

Committee on Economic and Monetary Affairs · Rapporteur: Fernando Navarrete Rojas

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Parliament's amended version of a proposed regulation on the legal tender of euro banknotes and coins. It defines mandatory acceptance at full face value, bans surcharges, and lists exceptions where payees may refuse cash. It prohibits contractual terms and practices such as 'no cash' signs that exclude cash, and requires Member States to monitor acceptance of cash and take remedial measures. Member States must ensure effective access to cash, especially for vulnerable groups, and establish cash resilience plans for disruption of digital payments. National authorities are designated to handle complaints, and Member States report annually to the Commission and the European Central Bank. The Commission may adopt implementing acts requiring a Member State to act if exclusions of cash or poor access to cash persist. Euro cash and the digital euro are convertible at par, and payees must accept cash regardless of whether they accept digital euro.

Committee position. The Committee on Economic and Monetary Affairs proposes amendments to the Commission proposal, adding rules on exceptions to mandatory acceptance, a ban on ex ante unilateral exclusions of cash, monitoring and remedial measures, access to cash, resilience plans, and interaction with the digital euro.

Key points

  1. Legal tender of euro banknotes and coins means mandatory acceptance at full face value, with the power to discharge a payment obligation.
  2. Payees must not refuse euro banknotes or coins tendered in payment, and surcharges on settlement in cash are prohibited.
  3. Payees may refuse cash in good faith on legitimate grounds, where a different means of payment was agreed beforehand, or at unmanned points of sale.
  4. Legitimate grounds include disproportionate high-denomination banknotes, lack of change, and banknotes or coins not complying with anti-counterfeiting or anti-money-laundering rules.
  5. Contractual terms and commercial practices that exclude cash, such as 'no cash' signs, are prohibited and not binding on the payer.
  6. Member States must monitor acceptance of cash and compliance with the ban on exclusions, and take immediate remedial measures where needed.
  7. Member States must ensure effective access to cash, paying attention to vulnerable groups, and monitor access using common indicators.
  8. Member States must establish cash resilience plans for widespread disruption of digital payments, covering scenarios such as natural or human-made disasters.
  9. Member States must designate national competent authorities to receive complaints and ensure accessible complaint channels.
  10. The Commission adopts guidelines on common indicators and may adopt implementing acts requiring a Member State to take measures.
  11. Member States must lay down effective, proportionate and dissuasive penalties for infringements and notify the Commission within one year of entry into force.
  12. Euro banknotes and coins and the digital euro are convertible at par, and payees must accept cash irrespective of whether they accept digital euro.

Who is affected

  • Payees such as retailers and service providers must accept cash, except in listed cases, and cannot exclude it by contract.
  • Payers can discharge debts in cash at full face value and choose between cash and digital euro where both are mandatory.
  • Member States must monitor acceptance and access to cash, ensure access, and set up resilience plans and penalties.
  • Vulnerable groups, including older persons, persons with disabilities, people with low income or low digital skills and unbanked persons, get attention in access to cash.
  • National competent authorities receive complaints and report annually to the Commission and the European Central Bank.

Figures and deadlines

  • No party should be obliged to accept more than 50 coins in any single payment.
  • A two hundred euro banknote tendered for a debt of less than five euro is an example of disproportionate tender.
  • Member States must notify the Commission of penalty rules within one year after entry into force.
  • The first annual report is due one year after entry into force, with subsequent reports yearly.
  • The Commission reviews the regulation by five years after entry into force.
  • The regulation enters into force on the twentieth day following publication in the Official Journal.

Legal basis: Article 294(2) and Article 133 of the Treaty on the Functioning of the European Union.