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Cash Rounding

All articles tagged with #cash rounding

us-money19 days ago•15 min saved

Penny Phaseout Clears Senate as Congress Considers Nickel and Cash-Rounding Rules

Senators approved the Common Cents Act, paving the way to end penny production (final minting in 2025) and to allow retailers to round cash transactions to the nearest five cents when exact change isn’t available, while keeping electronic payments exact; the nickel could be next, though a separate bill to suspend nickel production remains stalled in the House.

via The Independent|

#cash-rounding #common-cents-act #congress

business10 months ago•2 min saved

Penny Shortage Forces Grocery Stores to Rethink Change Policies

The US Treasury's decision to stop minting pennies by 2026 is causing grocery stores like Kroger and Kwik Trip to adjust, with some rounding cash transactions to the nearest five cents, potentially increasing costs for consumers and raising legal and logistical questions. The move aims to save costs but may lead to changes in pricing and payment practices, especially for cash transactions, affecting consumers and businesses alike.

via The Takeout|

#business #cash-rounding #cost-savings