Switzerland’s voters are about to put cash in the constitution

The Swiss may be about to reaffirm their fondness for cash with a vote that would give the francs in their wallets a place in the constitution.

Polls show that a plebiscite on Sunday sparked by campaigners seeking to legally enshrine the availability of physical money will probably win enough backing to pass in some form, in a result that would contrast with consumers’ increasing enthusiasm for digital transactions.

Proponents who gathered 157,000 signatures to trigger the popular vote insist that physical money is the ultimate guarantee of value in uncertain times.


“This is about ensuring that the people keep the possibility to turn to cash when facing negative interest rates or high bank transaction fees,” said Richard Koller, a representative of the Swiss Freedom Movement that campaigned for the initiative.

“We know that cash works without electricity, without the internet, without surveillance — that’s important to the Swiss.”