According to a new report from the Bank for International Settlements, Sweden uses very little cash for transactions, relying instead on electronic payments (credit cards, debit cards and bank transfers).

Only about 3% of the Swedish economy is tied to cash transactions. By comparison, 9% of transactions in the Eurozone are cash and 7% of transactions in the US are cash.

Travelers are advised that they may find businesses throughout Sweden that no longer accept cash. One notable example is the public bus system. All public buses require prepaid tickets and they do not accept cash on board.

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