The Central Bank today announced a voluntary national rounding scheme to begin on 28 October.
When customers get change in shops, the amount will be rounded to the nearest 5c, reducing the need of 1c and 2c coins.
In 2013 a successful trial was held in Wexford, where 85% of consumers and 100% of retailers wanted the policy introduced nationally.
Under the scheme, rounding will be conducted on a voluntary basis and will only be applicable to cash payments.
One and two cent coins will remain legal tender, with the total amount of any bill rounded up or down to the nearest five cent.
How will Rounding Work?
When you are paying by cash, the change you are given is rounded up or down to the nearest five cent.
- If the total ends in 1 or 2 round to 0
- If it ends in 3 or 4 round to 5
- If it ends in 6 or 7 round to 5
- If it ends in 8 or 9 round to 10
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