Cashless payments are all the rage but people in Sweden have been told to squirrel away notes and coins in case of a cyber attack on the nation's banks.

Digital payments offer convenience for both buyers and sellers alike and the Scandinavian nation has been an eager adopter of the technology.

Now, government experts are concerned that people could be left without any money should its computer networks become victim to an attack. 

Sweden's Civil Contingencies Agency has issued guidance to every household telling residents to stockpile 'cash in small denominations' for use in emergencies.

The warning will ring alarm bells around the world as developed nations increasingly make the move to a cashless society.