Longyearbyen is now a predominantly cash-free settlement, a shift accelerated by the Covid-19 pandemic.
In 2019, SpareBank Norway closed less profitable branches, including Longyearbyen’s only bank, shuttered on December 31st, 2019. The town’s bank had a short history, marked by a single robbery in 2018, swiftly resolved. Since the closure, residents lack cash services, and the northernmost ATM ceased to operate. Many businesses now only accept credit cards, while Svalbardbutikken and the local pharmacy still welcome cash.
The bank’s former building now houses the Norwegian Social Agency NAV, sharing space with the post office.
