Shops that Refuse Payments in Notes and Coins Will Be Punished
5 Articles
5 Articles
Currently euro banknotes and coins are legal tender and must be accepted by traders, but in Portugal there are no specific sanctions. European law is being prepared for three years.
EU prepares sanctions for unjustified refusal of cash payments. In Portugal, accepting notes and coins is already the rule, but there are exceptions.
A new European legislation is being negotiated to reinforce the obligation to accept banknotes and coins in shops and to provide sanctions for establishments that refuse cash without justification; in Portugal, the acceptance of money is already the rule, but there is no specific penalty for those who disrespect it.
Stores that refuse cash payments may be punished under new European rules that are being negotiated. Banco de Portugal supports the initiative, which provides penalties for commercial establishments that do not accept notes and coins.
There is European legislation to be worked out for compulsory acceptance of cash, with penalties for non-compliance. In Portugal, Banco de Portugal welcomes this step, but it will not be given immediately.
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