Monday , January 25 2021

NBP criticizes banks for a “moneyless economy”. The President has considered cash the basis of freedom



President of the National Bank of Poland, prof. Adam Glapiński has announced that he will start working on a “national strategy for money security”. I want, among other things, to encourage a wider use of physical money, as opposed to electronic payment methods that are increasingly being promoted.

President Glapiński announced that the NBP would renew its postulate to include an appropriate provision in its Delegation Services Act, which would strengthen the rights of consumers, certainly deciding that they have the right to pay money at any time and at any time.

He criticized, among other things, the activities of shops, restaurants or offices that do not accept cash payments due to the pandemic. He asked for the option to pay in cash in all transactions.

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Praising the money and believing that its use is widespread, the NBP president assured that the bank had established procedures to stop the transmission of coronavirus on the surface of coins or banknotes. Among other things, he mentioned about the quarantine of the day at a time when the NBP was spending money.

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The President, confirming the correctness of his words, stated that it is still about 10 per cent. The Poles have no account in & nbspbank, and & nbspk knew 10 percent. he takes out all the money immediately.

– We Poles have always been guardians of freedom and we are sensitive to any attempt to limit it. The elimination of out-of-cash money in the context of some banking, media and international concerns does not help to expand and strengthen people’s freedom – & nbsp; Glapiński emphasizes.

He added that it is quite the opposite. This policy poses a risk to the security and sovereignty of nation-states and to the individual freedom of citizens.

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– NBP accepts digital payment methods, but does not forget the & nbspo & nbspo & nbspa & nbspa & nbspa basis. During the pandemic, cash has ceased to be just a payment instrument and has become an important element in stabilizing the infrastructure of the entire state – said the head of the central bank.

Criticism of banks

Adam Glapiński talks about the introduction of cashless transactions. At the same time, he criticized banks for limiting the monetary service of & nbsparties and reducing ATMs.

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He noted that 500 machines have been lost in the last six months. Although the NBP has repeatedly appealed, not all appointments are often available on & nbspbankomats. He stressed that this policy of the banks should be changed.

– It happens that the operators set an artificial limit on the number of payments – & nbsp stated Glapiński.

Zloty on the euro

When he announced the treasury security strategy, the NBP president made it clear that Poland’s strength in the pandemic is its currency, which is stored by the central bank.

He noted that full control allows flexible monetary policies to be adapted to economic conditions.

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In this way, the NBP once again sends a signal to the government and society that it would prefer its currency over the euro, which Poland committed to joining the European Union many years ago.

Since March, the value of & nbspobieg’s money in Poland has increased by about PLN 80 billion, and so on by a third. It is already around PLN 320 billion. It should be remembered that in the first phase of the pandemic, banks and ATMs were besieged by customers who withdrew savings from banks for fear of the unknown consequences of the crisis.

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