Money and payments

The Bank of Finland is the national monetary authority and is responsible for the issuance of banknotes and coins. The Bank is also tasked with maintaining the cash supply in Finland in cooperation with banks and other entities involved in the cash supply chain. A smooth cash supply is important for the economy as it enables efficient transactions and convenient fund transfers.

In addition, the Bank of Finland is responsible for the oversight of payment and settlement systems and for the development and maintenance of payment systems. Secure and efficient systems are a precondition for reliable payment flows in society.

Payment

To put it simply, payment is transferring money from one party to another, and it is a key factor in all economic activity.

Bank holidays

Here you can see the list of national holidays when banks are closed.

Euro banknotes and coins

The Bank of Finland issues banknotes in Finland according to demand and with the authorisation of the European Central Bank (ECB).

Digital euro

Digitalisation is changing the way we pay. A digital euro would be an electronic form of cash for the digitalised world.

Topical

Analysis 14 Jul 2021

COVID-19 pandemic causing permanent change in payment habits

Nearly half of Finns have reduced their use of cash during the pandemic, and most believe that their use of cash has decreased permanently.

Analysis 14 Jul 2021

Payment and settlement systems subject to oversight

Payment and settlement systems comprise the financial market infrastructure.

Analysis 31 May 2021

Future of payments at hand

The central bank is responsible for the reliability of payment systems and must be able to respond swiftly to developing payment forms.

Simply Short 19 May 2021

COVID-19 is accelerating the payment revolution

Cash payments have been on the decline for years now, but the pandemic has accelerated the process.

Analysis 21 Apr 2021

The future of cash in Finland - a basic service secured by law?

Cash must be available and it must be possible to use cash for as long as people need and want it.

More news

The Bank of Finland’s tasks include helping maintain the reliability and efficiency of the payment system and the overall financial system, and contributing to the development of these systems.

Payment is a critical activity for the functioning of society. Electronic payment is very popular in Finland, with the majority of daily payments being carried out electronically as credit transfers or card payments. Cash payment also continues to play a part.

Payment statistics

Finnish Financial Ombudsman Bureau (FINE)

Financial Supervisory Authority

Frequently asked questions

How can you prepare for a payment system disruption?
How can you prepare for a payment system disruption?
1. Open another bank account with a different bank and activate the account.
2. Use an instant payment app as an alternative to card payments.
3. Put aside some cash to cover your needs for a few days.
Read more
How can I ensure that payments are safe?

How can I ensure that payments are safe?

Many banks provide information on safe payments on their websites. Information on safe payments is also available from Finance Finland.
Can a shop refuse to accept payment in cash?

Can a shop refuse to accept payment in cash?

Under the principle of freedom of contract that prevails in Finland, shops are free to choose the forms of payment they wish to accept, provided they communicate the position clearly to customers before the latter decide to make a purchase. The Bank of Finland takes the view that it is important that cash be accepted as a form of payment in relation to services of importance to the general public. The Bank of Finland monitors the availability of cash services.