Shops will be able to refuse 1,000 kroner banknotes for purchases under 250 kroner next month if the law is passed as expected, before the 1,000 kroner note becomes invalid from May 31, 2025. Until then, Business Minister Morten Bodskov will allow shops to refuse the 1,000 kroner note if the customer buys goods worth less than 250 kroner, according to TV2, citing Ritzau.
The bill is currently being studied in the Danish parliament and will come into effect as soon as it is adopted. According to Finance, the bill is expected to be voted on in the Danish parliament on June 4.
Originally, the plan was for shops to refuse banknotes for purchases under 500 kronor, but the minister is now changing the minimum purchase amount to 1,000 kronor. Currently, the percentage of people who use banknotes for payment is 101,000 tfl, including a significant number of elderly people who prefer to pay by cash.
With some exceptions, and according to the law currently in force, shops are not allowed to refuse cash payments between 6 am and 10 pm, at which time payments using electronic payment methods such as payment cards are accepted.
The Ministry of Business and Industry said last March that this was proposed on the basis that stores reported customers wanting to pay with a 1,000 kroner note for very small purchases. One of the arguments in favor of the gradual elimination of 1,000 kroner notes is that they are “largely used in economic crimes” – such as money laundering, for example – according to a statement by Minister Morten Bodskov last November, according to the source.
