A grocer in a Tyrolean tourist resort refused to accept 200 and 500 euro notes “for security reasons”, as it was said. Not all guests understood. The Tyrolean Chamber of Labor intervened again and the affected food market sent a clear signal.
The discussion about cash in the Constitution strangely blossomed this summer – not only in faraway Vienna, but also in Tyrol. As reported, the food retailer MPreis was sharply criticized by the Chamber of Labor for only accepting card payments in two branches in Innsbruck. In early July, they came back and allowed cash again.
Even large bills are cash
However, in some industries there seemed to be some ambiguity about whether cash is real – regardless of the size of the banknotes. In the tourist resort of Leutasch, there was an information letter at the cash register at the beginning of August, which stated that banknotes of 200 and 500 euros were not accepted “for security reasons”.
Legal tender
The “Krone” confronted the AK Tirol, which had become active in the field of cash together with the consumer information association. “Cash, i.e. euro banknotes and coins, is legal tender in Austria. A general refusal of banknotes with higher denominations is therefore in principle not permitted,” says AK chairman Erwin Zangerl, “especially with the currently very high food prices in Tyrol, which are generally known, payment with a 200 euro note will in any case be are common.”
Clear statement from grocers
AK’s legal department became active and contacted the store management, who said: “We would like to indicate that we share your opinion and that there are no instructions from the head office to the branch(es), 200 and 500 euro banknotes are not accepted. The relevant branch in Seefeld (above photo is of the Leutasch branch, note) was instructed immediately upon receipt of your letter to remove the letter enclosed by themselves and to accept the said certificates.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
