ID-based public key cryptography (ID-PKC) has many advantages over certificate-based public key cryptography (CA-PKC), and has drawn researchers’ extensive attention in recent years. However, the existing electronic cash schemes are constructed under CA-PKC, and there seems no electronic cash scheme under ID-PKC up to now to the best of our knowledge. It is important to study how to construct electronic cash schemes based on ID-PKC from views on both practical perspective and pure research issue. In this paper, we present a simpler and provably secure ID-based restrictive partially blind signature (RPBS), and then propose an ID-based fair off-line electronic cash (ID-FOLC) scheme with multiple banks based on the proposed ID-based RPBS. The proposed ID-FOLC scheme with multiple banks is more efficient than existing electronic cash schemes with multiple banks based on group blind signature.