General Discussion
In reply to the discussion: As seen at my local grocery store this morning at every check-out... [View all]stopdiggin
(14,570 posts)In the case being discussed today (with the OP and the picture) - none of this is actually happening. The retailer is just asking people who intend to pay cash - to try to tender exact amounts. In other words, "Would you please dig into your pockets for your pennies - rather then expect us to continuously hand them to you?"
Then 2) Yes again - in the case (down the road) when pennies are simply not in circulation - then a rounding factor (most likely predetermined by regulation) will go into effect. And, yes again - will only be in effect for cash transactions. Any transaction involving plastic (debit, credit, SNAP cards) or electronic 'taps' (phones, watches, cards) - will still be rendered in 1 cent increments. (i.e., $7.01 or $7.99) No change in either pricing, or in final amount paid.
So, yes - 'rounding' (when it actually arrives) - only for cash sales.