Kwik Trip Phases Out Pennies, Rounds Cash Transactions Down
Kwik Trip, a major convenience store chain serving nearly 12 million customers weekly, is phasing out pennies. The change, effective from October 16, 2023, will see cash transactions rounded down to the nearest five cents, benefiting customers. Credit card and digital transactions, including those via cash app, remain unaffected.
The decision comes due to a lack of clear guidance from the U.S. Department of Treasury. Kwik Trip's register systems have been updated to automatically apply the new rounding rules on cash transactions. The policy is temporary, lasting until a permanent legislative solution is enacted.
President and CEO Scott Zietlow apologized for any confusion the change may cause. He assured customers that the move aims to simplify transactions and reduce the use of small coins. The change will occur gradually as stores run out of pennies, with no specific date set for each store.
Kwik Trip's elimination of pennies will impact cash transactions, rounding them down to the nearest five cents. This change, influenced by a lack of guidance from the U.S. Department of Treasury, is expected to simplify transactions and benefit customers. The policy is temporary and will be implemented gradually as stores deplete their penny stocks.
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