On my 9-13-12 blog , I mentioned about the last Canadian penny being minted on May 2012. Well, now the act of rounding up change when Canadian pennies are hardly in circulation has already started since Feb. 4,2013 .At this same time too, the Government of Canada has stopped distributing pennies.
Cashless or electronic transactions(credit cards,debit cards,etc) will not be affected. All the stores here in town have already posted how the rounding would be as based on federal guidelines:
Here’s an example of a simple dollar transaction with some cents involved in the rounding process:
ROUNDING DOWN: $1.01 or $1.02 $1.00 ROUNDING UP: $1.03 OR $1.04 $1.05
$1.06 or $1.07 $1.05 $1.08 OR $1.09 $1.10
As for transactions ending in either 0 or 5, no rounding out made.
It’s a way of getting used to it, I guess but personally, I will miss the penny.
A penny for my thoughts indeed!