When the Lights Go Out, Cash Still Works

Frane Maroevic, General Director, International Currency Association

Yesterday’s enormous power outage across Spain and Portugal was more than just an inconvenience, it was a wake-up call. Tens of thousands of people stood in endless lines at supermarkets and pharmacies, only to discover they couldn’t buy anything because their cards and mobile phones were useless.

Suddenly, the digital convenience we all rely on just… stopped working. This crisis underscored the critical importance of keeping an emergency stash of cash.

Cash always works, especially in times of crisis.

When digital networks fail due to technical faults, cyber incidents, natural disasters, or even conflict, cash works. As we saw yesterday, those with cash could buy food, medicine, and fuel, while those without couldn’t buy anything.

But for cash to remain a lifeline, we need to keep it flowing. If we let it fade out of our daily lives, it becomes more cumbersome and expensive to use.

Keeping cash in circulation ensures it will be there when you need it most.

So next time you pull out your wallet, think about some of the amazing benefits of cash like privacy. Not that you have anything to hide, but do you really need to share everything?

Every time you pay with cash, you’re not leaving a digital trail for hundreds of companies to follow, sell, and resell to create a marketing profile of you.

In an age of constant data surveillance, paying in cash offers a rare moment of freedom.

As power is restored in Spain and Portugal, remember to keep an emergency stash of cash, and use it regularly. You never know when you will need it, but it will always work for you.