DonLever Posted February 3, 2013 Share Posted February 3, 2013 Tomorrow, the Mint stops sending pennies to banks and other financial insitutions. While the Mint has stopped making the pennies for a few months now, they were still sending them out to banks. http://www.montrealgazette.com/business/money/Penny+demise+good+news+businesses+charities/7906195/story.html So when will businesses do this rounding up and down of pennies? I suppose when they run out of pennies and can't get anymore from the bank. And how does rounding works? Is it like this? .91 will be .90 .92 will be .90 .93 will be .95 .94 will be .95 .95 will be .95 .96 will be. 95 .97 will be 1.00 .98 will be 1.00 .99 will be 1.00 Link to comment Share on other sites More sharing options...
Opmac Posted February 3, 2013 Share Posted February 3, 2013 http://www.mint.ca/store/mint/learn/rounding-6900008#.UQ7IbFNwq5I Link to comment Share on other sites More sharing options...
PlayStation Posted February 3, 2013 Share Posted February 3, 2013 Can I pay for coffee with a cheque? Link to comment Share on other sites More sharing options...
Shift-4 Posted February 3, 2013 Share Posted February 3, 2013 Not concerned either way Link to comment Share on other sites More sharing options...
hudson bay rules Posted February 3, 2013 Share Posted February 3, 2013 If I was a retailer I'd alter my prices so that the amount including taxes would come out nice and even. Rather than charging $1.85 plus 13% for $2.09 I'd charge $1.86 plus 13% for $2.10. Pennies have been useless for more than a decade. Link to comment Share on other sites More sharing options...
key2thecup Posted February 3, 2013 Share Posted February 3, 2013 So can we still go to the bank with all our pennies and exchange for dollars? Link to comment Share on other sites More sharing options...
Shift-4 Posted February 3, 2013 Share Posted February 3, 2013 If I was a retailer I'd alter my prices so that the amount including taxes would come out nice and even. Rather than charging $1.85 plus 13% for $2.09 I'd charge $1.86 plus 13% for $2.10. Pennies have been useless for more than a decade. Link to comment Share on other sites More sharing options...
hudson bay rules Posted February 3, 2013 Share Posted February 3, 2013 So can we still go to the bank with all our pennies and exchange for dollars? Link to comment Share on other sites More sharing options...
hudson bay rules Posted February 3, 2013 Share Posted February 3, 2013 So, how many pennies does everyone think you have? I'd say about 70 or so myself. One roll and a bit. Link to comment Share on other sites More sharing options...
Shift-4 Posted February 3, 2013 Share Posted February 3, 2013 So, how many pennies does everyone think you have? I'd say about 70 or so myself. One roll and a bit. Link to comment Share on other sites More sharing options...
Champions of Nothing Posted February 3, 2013 Share Posted February 3, 2013 Where I work we've been rounding for years. We don't work with pennies. Link to comment Share on other sites More sharing options...
SkeeterHansen Posted February 3, 2013 Share Posted February 3, 2013 So, how many pennies does everyone think you have? I'd say about 70 or so myself. One roll and a bit. Link to comment Share on other sites More sharing options...
CIA Posted February 3, 2013 Share Posted February 3, 2013 I work in retail and we have been told to always round in the customers favour. So if we're giving back change say 0.62 cents...the customer gets 0.65. If the customer has to pay 0.62 (or even 0.64), we only charge 0.60. Weird but I guess it's to keep people from complaining. Link to comment Share on other sites More sharing options...
Cromeslab Posted February 3, 2013 Share Posted February 3, 2013 My Canuck piggybank is full of pennies Link to comment Share on other sites More sharing options...
WHL rocks Posted February 3, 2013 Share Posted February 3, 2013 I'm going to the bank to buy me $100 in pennies. Link to comment Share on other sites More sharing options...
hudson bay rules Posted February 3, 2013 Share Posted February 3, 2013 I'm going to the bank to buy me $100 in pennies. Link to comment Share on other sites More sharing options...
Buggernut Posted February 3, 2013 Share Posted February 3, 2013 Tomorrow, the Mint stops sending pennies to banks and other financial insitutions. While the Mint has stopped making the pennies for a few months now, they were still sending them out to banks. http://www.montrealg...6195/story.html So when will businesses do this rounding up and down of pennies? I suppose when they run out of pennies and can't get anymore from the bank. And how does rounding works? Is it like this? .91 will be .90 .92 will be .90 .93 will be .95 .94 will be .95 .95 will be .95 .96 will be. 95 .97 will be 1.00 .98 will be 1.00 .99 will be 1.00 Link to comment Share on other sites More sharing options...
Heretic Posted February 3, 2013 Share Posted February 3, 2013 Remember - this only affects cash transactions. Link to comment Share on other sites More sharing options...
Wetcoaster Posted February 4, 2013 Share Posted February 4, 2013 Remember - this only affects cash transactions. Link to comment Share on other sites More sharing options...
Tearloch7 Posted February 4, 2013 Share Posted February 4, 2013 If I was a retailer I'd alter my prices so that the amount including taxes would come out nice and even. Rather than charging $1.85 plus 13% for $2.09 I'd charge $1.86 plus 13% for $2.10. Pennies have been useless for more than a decade. Link to comment Share on other sites More sharing options...
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