Paying with coins, yes, but... no more than a hundred!
Paying with coins, yes, but... no more than a hundred!
"The boss refused to let us pay the bill in coins alone. Does he have the right to do that?
Alain, Denys & Henri, Vaud
The Law on Currency and Payment Instruments (LUMMP) came into force on 1 May 2000. It replaces and takes over almost entirely the previous Federal Law on Currency dating from 1970. It also incorporates the provisions on banknotes previously contained in the National Bank Act.
The main feature of the LUMMP is that it designates the franc as the Swiss currency unit. Banknotes, coins and transfers denominated in Swiss francs at the SNB are also declared legal tender. These means of payment can be used to pay debts in full discharge of liabilities. As a result, anyone can accept banknotes as a means of payment without restriction. As for coins intended for cash transactions, they must be accepted up to a maximum of 100 coins. In fact, under article 3 of the LUMMP, anyone is obliged to accept up to 100 current Swiss coins as payment. In addition, any person is also obliged to accept Swiss banknotes in payment without any limit on the amount.
Therefore, if you wanted to pay with a maximum of 100 coins, the restaurateur was not entitled to refuse them. You could also have paid with a banknote of any value you wished, as there are no restrictions on this.
It should also be noted that only the SNB and the Confederation's public cash desks (postal and railway counters) are obliged to accept commemorative and hoarding coins, which are not means of payment in the strict sense of the term. Finally, if you wish to deposit your coins in your bank account, you will need to make your own rolls of coins before handing them in at the counter.
