The Government of Canada is phasing out the penny. Starting February 4, 2013, pennies will no longer be distributed to businesses or financial institutions.
In our stores, pennies will continue to be accepted. For cash payments where change is owed, your change will be rounded to the nearest five-cent increment using the following Government of Canada rounding guidelines:
- Amounts ending in 1 cent and 2 cents are rounded down to the nearest 10 cents.
- Amounts ending in 3 cents and 4 cents are rounded up to the nearest 5 cents.
- Amounts ending in 6 cents and 7 cents are rounded down to the nearest 5 cents.
- Amounts ending in 8 cents and 9 cents are rounded up to the nearest 10 cents.
- Amounts ending in 0 cent and 5 cents remain unchanged.
Our rounding approach may not be adopted by third party service providers operating within our store environment. Please contact with those providers directly if you have any questions about their rounding policies related to the elimination of the penny.
Electronic transactions such as debit and credit cards don’t need to be rounded, and will not be impacted.
For more information, please visit the Government of Canada “Phasing out the Penny” site at www.actionplan.gc.ca/penny or call 1 800 O-Canada.